Pittenger & Anderson Inc. Lowers Stake in Cadence Design Systems, Inc. $CDNS

Pittenger & Anderson Inc. cut its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 88.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 486 shares of the software maker’s stock after selling 3,568 shares during the period. Pittenger & Anderson Inc.’s holdings in Cadence Design Systems were worth $135,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Whipplewood Advisors LLC grew its holdings in Cadence Design Systems by 933.3% in the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares during the period. Brown Lisle Cummings Inc. grew its stake in Cadence Design Systems by 860.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in Cadence Design Systems in the 4th quarter worth $28,000. Swiss RE Ltd. acquired a new position in Cadence Design Systems during the fourth quarter worth $29,000. Finally, Lodestone Wealth Management LLC acquired a new position in Cadence Design Systems during the fourth quarter worth $30,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $384.17 on Monday. The company has a market capitalization of $105.96 billion, a price-to-earnings ratio of 89.55, a PEG ratio of 4.55 and a beta of 1.15. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The business has a 50-day moving average price of $374.82 and a 200 day moving average price of $327.01. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share 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 company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm posted $1.57 earnings per share. Cadence Design Systems’s revenue 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. Sell-side analysts expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on CDNS shares. Citigroup lifted their target price on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Piper Sandler lifted their price target on Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Robert W. Baird boosted their price target on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. 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, Stifel Nicolaus raised their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.00.

Insider Transactions at Cadence Design Systems

In other news, VP Paul Cunningham sold 2,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $391.00, for a total value of $782,000.00. Following the sale, the vice president directly owned 126,586 shares in the company, valued at approximately $49,495,126. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 7,081 shares of Cadence Design Systems stock in a transaction on Monday, June 1st. The shares were sold at an average price of $393.91, for a total value of $2,789,276.71. Following the completion of the transaction, the vice president owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. This trade represents 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 178,557 shares of company stock worth $66,925,452 in the last three months. 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.