Oxbow Advisors LLC Acquires Shares of 10,300 Cadence Design Systems, Inc. $CDNS

Oxbow Advisors LLC bought a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the first quarter, HoldingsChannel reports. The firm bought 10,300 shares of the software maker’s stock, valued at approximately $2,862,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tensor Edge Capital LLC bought a new position in shares of Cadence Design Systems in the 1st quarter worth about $27,926,000. Leelyn Smith LLC lifted its position in Cadence Design Systems by 5.7% during the 1st quarter. Leelyn Smith LLC now owns 5,014 shares of the software maker’s stock valued at $1,393,000 after acquiring an additional 271 shares during the period. PFG Investments LLC bought a new stake in Cadence Design Systems during the first quarter worth about $372,000. Turtle Creek Wealth Advisors LLC boosted its stake in Cadence Design Systems by 18.9% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 1,888 shares of the software maker’s stock worth $525,000 after acquiring an additional 300 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Cadence Design Systems during the first quarter worth about $1,825,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cadence Design Systems news, Director James D. Plummer sold 1,511 shares of Cadence Design Systems stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the completion of the sale, the director owned 23,264 shares of the company’s stock, valued at approximately $8,871,493.76. This trade represents a 6.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 51,887 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $370.00, for a total value of $19,198,190.00. Following the completion of the transaction, the chief executive officer owned 303,525 shares of the company’s stock, valued at $112,304,250. This represents a 14.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 178,557 shares of company stock worth $66,925,452 over the last 90 days. 0.49% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Rosenblatt Securities reissued a “buy” rating and issued a $360.00 price target on shares of Cadence Design Systems in a research report on Friday, April 24th. KeyCorp upped their price target on Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Wells Fargo & Company raised their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Finally, Robert W. Baird raised their price objective on Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus price target of $386.59.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $373.14 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. The firm has a market cap of $102.92 billion, a P/E ratio of 86.98, a P/E/G ratio of 4.42 and a beta of 1.15. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. The firm has a 50-day simple moving average of $369.80 and a two-hundred day simple moving average of $324.78.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm posted $1.57 earnings per share. The business’s revenue was up 18.6% on a year-over-year basis. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. Analysts predict that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal 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.