Cadence Design Systems, Inc. $CDNS Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC lessened its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 81,038 shares of the software maker’s stock after selling 5,308 shares during the quarter. Cadence Design Systems comprises about 0.8% of Peregrine Capital Management LLC’s holdings, making the stock its 22nd biggest position. Peregrine Capital Management LLC’s holdings in Cadence Design Systems were worth $22,518,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Brown Lisle Cummings Inc. raised its stake in shares of Cadence Design Systems by 860.0% during the 1st 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 period. University of Texas Texas AM Investment Management Co. acquired a new stake in Cadence Design Systems in the 4th quarter valued at $28,000. Swiss RE Ltd. purchased a new stake in Cadence Design Systems in the 4th quarter worth $29,000. Lodestone Wealth Management LLC purchased a new stake in Cadence Design Systems in the 4th quarter worth $30,000. Finally, Imprint Wealth LLC acquired a new position in Cadence Design Systems during the third quarter worth $31,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Anirudh Devgan sold 25,005 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the sale, the director directly owned 8,004 shares in the company, valued at approximately $3,101,149.80. The trade was a 2.20% 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. Over the last 90 days, insiders have sold 178,557 shares of company stock worth $66,925,452. 0.49% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Robert W. Baird increased their price objective on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Citigroup lifted their price objective on Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, KeyCorp increased their target price on Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $386.59.

Cadence Design Systems Trading Up 0.7%

Shares of CDNS stock opened at $375.32 on Wednesday. The company’s 50-day moving average price is $366.84 and its 200-day moving average price is $323.79. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The stock has a market cap of $103.52 billion, a price-to-earnings ratio of 87.49, a PEG ratio of 4.41 and a beta of 1.15. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) 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 firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the business earned $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. As a group, equities analysts predict that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Cadence Design Systems Company 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.