Patton Fund Management Inc. Has $241,000 Stake in Cadence Design Systems, Inc. $CDNS

Patton Fund Management Inc. reduced its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 91.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 869 shares of the software maker’s stock after selling 9,376 shares during the period. Patton Fund Management Inc.’s holdings in Cadence Design Systems were worth $241,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CDNS. Boomfish Wealth Group LLC increased its stake in Cadence Design Systems by 2.5% during the 1st quarter. Boomfish Wealth Group LLC now owns 3,268 shares of the software maker’s stock valued at $908,000 after purchasing an additional 79 shares in the last quarter. Cornerstone Wealth Group LLC lifted its stake in shares of Cadence Design Systems by 19.1% in the first quarter. Cornerstone Wealth Group LLC now owns 952 shares of the software maker’s stock valued at $265,000 after buying an additional 153 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in shares of Cadence Design Systems during the first quarter valued at about $180,000. Realta Investment Advisors grew its holdings in shares of Cadence Design Systems by 8.2% during the first quarter. Realta Investment Advisors now owns 3,942 shares of the software maker’s stock valued at $1,095,000 after buying an additional 299 shares during the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of Cadence Design Systems by 2.8% during the first quarter. Sterling Capital Management LLC now owns 13,350 shares of the software maker’s stock worth $3,710,000 after acquiring an additional 365 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In related news, Director James D. Plummer sold 1,511 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total transaction of $576,204.74. Following the completion of the sale, the director directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of Cadence Design Systems stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total value of $10,377,075.00. Following the sale, the chief executive officer owned 253,519 shares in the company, valued at $105,210,385. This trade represents a 8.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 178,557 shares of company stock valued at $66,925,452 in the last ninety days. Insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Up 0.7%

CDNS opened at $375.32 on Wednesday. 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 market capitalization of $103.52 billion, a P/E ratio of 87.49, a PEG ratio of 4.41 and a beta of 1.15. The company’s 50-day moving average is $366.84 and its 200 day moving average is $323.79. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted $1.57 EPS. The company’s revenue for the quarter 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. Research analysts expect that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CDNS shares. Citigroup upped their target price on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Rosenblatt Securities reissued a “buy” rating and set a $360.00 price objective on shares of Cadence Design Systems in a report on Friday, April 24th. Wells Fargo & Company increased their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Piper Sandler raised their target price on Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Finally, Robert W. Baird lifted their target price 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 research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $386.59.

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.