Proficio Capital Partners LLC Invests $978,000 in Cadence Design Systems, Inc. $CDNS

Proficio Capital Partners LLC purchased a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, Holdings Channel.com reports. The fund purchased 2,607 shares of the software maker’s stock, valued at approximately $978,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. George Kaiser Family Foundation purchased a new position in shares of Cadence Design Systems during the second quarter worth approximately $725,000. MUFG Securities EMEA plc raised its position in Cadence Design Systems by 113.9% in the 4th quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock worth $3,488,000 after purchasing an additional 5,943 shares during the period. Sun Financial Inc purchased a new position in Cadence Design Systems in the 4th quarter worth $1,225,000. Leonteq Securities AG bought a new stake in Cadence Design Systems in the fourth quarter worth $1,105,000. Finally, Indivisible Partners purchased a new stake in Cadence Design Systems during the fourth quarter valued at about $4,795,000. 84.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Robert W. Baird lifted their price objective on Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a research report on Wednesday, May 27th. Wells Fargo & Company increased their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Finally, Benchmark reaffirmed a “buy” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $405.69.

Cadence Design Systems Price Performance

CDNS opened at $334.68 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The stock has a market capitalization of $92.17 billion, a PE ratio of 66.54, a price-to-earnings-growth ratio of 3.56 and a beta of 1.15. The stock’s 50 day moving average price is $349.91 and its 200-day moving average price is $332.76.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.06. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The firm’s revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 earnings per share. 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. On average, equities research analysts predict that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Insider Transactions at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the sale, the director owned 8,004 shares of the company’s stock, valued at approximately $3,101,149.80. The trade was a 2.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the transaction, the chief executive officer owned 253,519 shares in the company, valued at $105,210,385. This represents a 8.98% 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. In the last 90 days, insiders sold 89,599 shares of company stock worth $35,710,627. 0.49% of the stock is owned by corporate insiders.

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.