Sequoia Financial Advisors LLC Acquires 2,115 Shares of Cadence Design Systems, Inc. $CDNS

Sequoia Financial Advisors LLC grew its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 24.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,607 shares of the software maker’s stock after acquiring an additional 2,115 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Cadence Design Systems were worth $2,947,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in shares of Cadence Design Systems in the fourth quarter worth approximately $1,352,922,000. J. Stern & Co. LLP grew its stake in Cadence Design Systems by 10,159.3% in the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after buying an additional 2,924,470 shares in the last quarter. Wellington Management Group LLP grew its stake in Cadence Design Systems by 218.6% in the 4th quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock worth $798,087,000 after buying an additional 1,751,927 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Cadence Design Systems by 120.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker’s stock worth $351,470,000 after buying an additional 615,440 shares during the last quarter. Finally, Scge Management L.P. purchased a new stake in shares of Cadence Design Systems during the 2nd quarter valued at $187,663,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a report on Wednesday, May 27th. Citigroup raised their price target on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $360.00 price target on shares of Cadence Design Systems in a research note on Friday, April 24th. KeyCorp upped their price objective on Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Thursday, July 2nd. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $387.00.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $377.92 on Tuesday. The firm has a fifty day simple moving average of $375.79 and a two-hundred day simple moving average of $327.44. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company has a market capitalization of $104.24 billion, a PE ratio of 88.09, a P/E/G ratio of 4.55 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the firm earned $1.57 earnings per share. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. 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. Research analysts expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Insider Buying and Selling at Cadence Design Systems

In other news, Director James D. Plummer sold 1,511 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total value of $576,204.74. Following the transaction, the director owned 23,264 shares in the company, valued at approximately $8,871,493.76. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 10,500 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $339.00, for a total transaction of $3,559,500.00. Following the sale, the vice president owned 33,946 shares of the company’s stock, valued at $11,507,694. This represents a 23.62% decrease in their ownership of the stock. 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 quarter. Company insiders own 0.49% of the company’s stock.

Cadence Design Systems Profile

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.