NewEdge Wealth LLC Purchases Shares of 2,907 Cadence Design Systems, Inc. $CDNS

NewEdge Wealth LLC purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,907 shares of the software maker’s stock, valued at approximately $1,091,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Avalon Trust Co bought a new stake in Cadence Design Systems in the second quarter worth about $30,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cadence Design Systems during the 4th quarter valued at about $28,000. Imprint Wealth LLC bought a new position in shares of Cadence Design Systems during the 3rd quarter valued at about $31,000. Arlington Trust Co LLC grew its stake in shares of Cadence Design Systems by 154.3% in the 2nd quarter. Arlington Trust Co LLC now owns 89 shares of the software maker’s stock worth $33,000 after purchasing an additional 54 shares during the last quarter. Finally, Whipplewood Advisors LLC grew its stake in shares of Cadence Design Systems by 933.3% in the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on CDNS shares. Stifel Nicolaus raised their target price on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a report on Wednesday, May 27th. Weiss Ratings upgraded Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Wells Fargo & Company lifted their target price on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Finally, Robert W. Baird boosted their target price on Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus price target of $405.69.

Cadence Design Systems Stock Up 1.7%

Shares of NASDAQ:CDNS opened at $319.02 on Friday. The firm has a 50 day simple moving average of $353.70 and a 200 day simple moving average of $331.25. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. The company has a market cap of $87.86 billion, a PE ratio of 63.42, a price-to-earnings-growth ratio of 3.36 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.06. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the company posted $1.65 EPS. The company’s quarterly revenue 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, research analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Insider Buying and Selling at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 51,822 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $395.00, for a total value of $20,469,690.00. Following the completion of the sale, the chief executive officer directly owned 278,524 shares of the company’s stock, valued at approximately $110,016,980. This represents a 15.69% decrease in their position. The sale was disclosed in a legal filing 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 7,081 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $393.91, for a total value of $2,789,276.71. Following the sale, the vice president owned 32,181 shares of the company’s stock, valued at $12,676,417.71. The trade was a 18.04% 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. Insiders have sold a total of 89,599 shares of company stock valued at $35,710,627 in the last ninety days. Company insiders own 0.49% of the company’s stock.

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.