Rafferty Asset Management LLC Sells 4,714 Shares of Cadence Design Systems, Inc. $CDNS

Rafferty Asset Management LLC trimmed its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,584 shares of the software maker’s stock after selling 4,714 shares during the quarter. Rafferty Asset Management LLC’s holdings in Cadence Design Systems were worth $44,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Y.D. More Investments Ltd bought a new position in shares of Cadence Design Systems during the third quarter valued at approximately $26,000. Caitlin John LLC purchased a new stake in shares of Cadence Design Systems in the 3rd quarter worth approximately $29,000. Strategic Wealth Investment Group LLC purchased a new stake in shares of Cadence Design Systems in the 2nd quarter worth approximately $32,000. Promus Capital LLC bought a new position in Cadence Design Systems during the 2nd quarter valued at approximately $33,000. Finally, Robbins Farley purchased a new position in Cadence Design Systems during the third quarter valued at $35,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 20,000 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the transaction, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $66,586,960. This represents a 9.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John M. Wall sold 27,805 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total value of $8,857,838.85. Following the completion of the transaction, the chief financial officer owned 69,957 shares in the company, valued at approximately $22,286,201.49. This trade represents a 28.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 56,475 shares of company stock worth $18,505,486. 1.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Morgan Stanley dropped their target price on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Wells Fargo & Company dropped their price target on shares of Cadence Design Systems from $410.00 to $375.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Stifel Nicolaus set a $395.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, February 18th. Needham & Company LLC restated a “buy” rating and set a $390.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, February 18th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $360.00 target price on shares of Cadence Design Systems in a research note on Thursday. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $376.50.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $301.40 on Friday. The business has a 50-day simple moving average of $305.71 and a two-hundred day simple moving average of $325.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.67 and a current ratio of 2.86. The firm has a market cap of $82.18 billion, a price-to-earnings ratio of 74.24, a price-to-earnings-growth ratio of 3.56 and a beta of 1.01. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Tuesday, February 17th. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.08. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. Cadence Design Systems had a net margin of 20.93% and a return on equity of 29.34%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 earnings per share. Cadence Design Systems has set its Q1 2026 guidance at 1.890-1.950 EPS and its FY 2026 guidance at 8.050-8.150 EPS. On average, analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

About Cadence Design Systems

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.