CoreCap Advisors LLC Trims Stake in Cadence Design Systems, Inc. $CDNS

CoreCap Advisors LLC lessened its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 74.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,243 shares of the software maker’s stock after selling 6,668 shares during the period. CoreCap Advisors LLC’s holdings in Cadence Design Systems were worth $842,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CDNS. Pacific Excel Wealth Advisors Inc. purchased a new position in shares of Cadence Design Systems in the 2nd quarter valued at $227,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Cadence Design Systems by 16.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 15,784 shares of the software maker’s stock worth $5,924,000 after acquiring an additional 2,245 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Cadence Design Systems by 15.5% during the 2nd quarter. Versant Capital Management Inc now owns 530 shares of the software maker’s stock worth $199,000 after acquiring an additional 71 shares in the last quarter. CX Institutional lifted its position in Cadence Design Systems by 7.6% during the second quarter. CX Institutional now owns 2,241 shares of the software maker’s stock valued at $841,000 after acquiring an additional 159 shares during the last quarter. Finally, Ballast Advisors LLC purchased a new position in Cadence Design Systems in the first quarter worth $121,000. 84.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cadence Design Systems news, Director James D. Plummer sold 1,511 shares of Cadence Design Systems stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total transaction of $576,204.74. Following the sale, the director owned 23,264 shares of the company’s stock, valued at $8,871,493.76. The trade was a 6.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $391.00, for a total transaction of $782,000.00. Following the completion of the sale, the vice president owned 126,586 shares of the company’s stock, valued at approximately $49,495,126. The trade was a 1.56% decrease in their position. 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 sold a total of 140,557 shares of company stock worth $54,631,737 in the last quarter. 0.49% of the stock is owned by insiders.

Cadence Design Systems Stock Up 0.2%

Shares of CDNS stock opened at $339.24 on Friday. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The stock has a market cap of $93.42 billion, a P/E ratio of 67.44, a P/E/G ratio of 3.63 and a beta of 1.15. The stock has a 50 day moving average of $368.63 and a 200 day moving average of $330.66. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Robert W. Baird increased their price objective on shares of Cadence Design Systems from $415.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, July 28th. Stifel Nicolaus upped their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Wall Street Zen raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Rosenblatt Securities boosted their price objective on shares of Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, KeyCorp restated an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $405.69.

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.