HighTower Advisors LLC Increases Position in Cadence Design Systems, Inc. $CDNS

HighTower Advisors LLC grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 32.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,861 shares of the software maker’s stock after purchasing an additional 18,664 shares during the quarter. HighTower Advisors LLC’s holdings in Cadence Design Systems were worth $28,472,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in shares of Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after purchasing an additional 676 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in Cadence Design Systems by 3.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock valued at $560,000 after buying an additional 80 shares during the last quarter. Thompson Davis & CO. Inc. purchased a new stake in Cadence Design Systems in the second quarter valued at approximately $205,000. NewEdge Advisors LLC boosted its holdings in shares of Cadence Design Systems by 39.3% in the second quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock valued at $10,720,000 after acquiring an additional 9,807 shares during the period. Finally, Glenview Trust co acquired a new stake in shares of Cadence Design Systems in the second quarter valued at approximately $226,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Scannell sold 280 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total value of $94,920.00. Following the completion of the sale, the vice president owned 31,720 shares of the company’s stock, valued at approximately $10,753,080. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $320.88, for a total transaction of $401,100.00. Following the sale, the director owned 40,794 shares in the company, valued at $13,089,978.72. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 7,041 shares of company stock worth $2,500,865. 0.49% of the stock is owned by insiders.

Analysts Set New Price Targets

CDNS has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Oppenheimer reissued a “market perform” rating and set a $300.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Stifel Nicolaus boosted their price target on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Finally, Benchmark reaffirmed a “buy” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.69.

Cadence Design Systems Trading Down 2.9%

Shares of Cadence Design Systems stock opened at $284.11 on Wednesday. The firm has a market cap of $78.24 billion, a price-to-earnings ratio of 56.48, a price-to-earnings-growth ratio of 3.14 and a beta of 1.14. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The company’s 50-day simple moving average is $338.15 and its 200-day simple moving average is $333.97. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the company earned $1.65 EPS. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. As a group, equities research analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Cadence Design Systems Profile

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware and semiconductor intellectual property (IP). Its products help engineers design, verify and analyze integrated circuits, printed circuit boards and complete electronic systems.

The company offers solutions spanning digital and custom IC design, functional verification, digital and analog simulation, emulation and prototyping, system analysis, and 3D computational fluid dynamics.