NewEdge Advisors LLC Cuts Stake in Cadence Design Systems, Inc. $CDNS

NewEdge Advisors LLC cut its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 15.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,716 shares of the software maker’s stock after selling 2,018 shares during the quarter. NewEdge Advisors LLC’s holdings in Cadence Design Systems were worth $2,978,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Cadence Design Systems in the fourth quarter worth $1,352,922,000. J. Stern & Co. LLP raised its stake in shares of Cadence Design Systems by 10,159.3% in the fourth quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock valued at $923,129,000 after acquiring an additional 2,924,470 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Cadence Design Systems by 218.6% in the fourth quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock valued at $798,087,000 after acquiring an additional 1,751,927 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Cadence Design Systems by 232.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,430,599 shares of the software maker’s stock valued at $397,521,000 after purchasing an additional 999,862 shares during the period. Finally, Scge Management L.P. acquired a new position in Cadence Design Systems during the 2nd quarter worth $187,663,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total value of $69,741.00. Following the transaction, the director directly owned 8,004 shares in the company, valued at $3,101,149.80. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $391.00, for a total transaction of $782,000.00. Following the sale, the vice president directly owned 126,586 shares in the company, valued at approximately $49,495,126. The trade was a 1.56% 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. Insiders sold a total of 140,557 shares of company stock valued at $54,631,737 over the last three months. 0.49% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on CDNS shares. Piper Sandler upped their price target on Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a research note on Wednesday, May 27th. Benchmark restated a “buy” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Finally, Rosenblatt Securities lifted their price target on shares of Cadence Design Systems from $410.00 to $420.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $405.69.

Cadence Design Systems Stock Up 0.2%

Shares of NASDAQ CDNS opened at $323.77 on Friday. The company has a market capitalization of $89.16 billion, a price-to-earnings ratio of 64.37, a price-to-earnings-growth ratio of 3.47 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. The business has a 50-day moving average of $361.75 and a two-hundred day moving average of $331.10. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating 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 business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the business posted $1.65 EPS. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. 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, analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

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.