Burling Wealth Partners LLC Buys Shares of 11,495 Cadence Design Systems, Inc. $CDNS

Burling Wealth Partners LLC purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 1st quarter, HoldingsChannel reports. The firm purchased 11,495 shares of the software maker’s stock, valued at approximately $3,194,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whipplewood Advisors LLC boosted its stake in shares of Cadence Design Systems by 933.3% in the 1st 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 last quarter. Brown Lisle Cummings Inc. raised its stake in Cadence Design Systems by 860.0% during the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in Cadence Design Systems during the fourth quarter worth $28,000. Swiss RE Ltd. acquired a new position in Cadence Design Systems in the fourth quarter valued at $29,000. Finally, Lodestone Wealth Management LLC bought a new stake in Cadence Design Systems during the fourth quarter valued at $30,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Buying and Selling

In related news, Director James D. Plummer sold 1,511 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the completion of the sale, the director directly 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 filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was 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 approximately $3,101,149.80. This trade represents a 2.20% decrease in their ownership of the stock. 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 157,057 shares of company stock worth $60,272,277 over the last 90 days. 0.49% of the stock is owned by company insiders.

Cadence Design Systems Stock Down 0.1%

Shares of NASDAQ CDNS opened at $329.93 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The firm has a market cap of $91.00 billion, a PE ratio of 76.91, a P/E/G ratio of 3.91 and a beta of 1.15. The company’s fifty day simple moving average is $375.40 and its 200 day simple moving average is $328.75. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share 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 the consensus estimate of $1.46 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The business’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. As a group, sell-side analysts forecast 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 brokerages have weighed in on CDNS. Rosenblatt Securities increased their price target on Cadence Design Systems from $375.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Piper Sandler boosted their price objective on Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Wells Fargo & Company upped their target price on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Finally, Citigroup lifted their target price on Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned 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 $393.65.

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.