Sigma Planning Corp Cuts Stake in Cadence Design Systems, Inc. $CDNS

Sigma Planning Corp cut its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 64.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,701 shares of the software maker’s stock after selling 3,117 shares during the period. Sigma Planning Corp’s holdings in Cadence Design Systems were worth $473,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Checchi Capital Advisers LLC boosted its holdings in shares of Cadence Design Systems by 17.3% in the 1st quarter. Checchi Capital Advisers LLC now owns 1,963 shares of the software maker’s stock valued at $545,000 after purchasing an additional 289 shares during the last quarter. Calamos Wealth Management LLC increased its holdings in shares of Cadence Design Systems by 4.6% during the 1st quarter. Calamos Wealth Management LLC now owns 866 shares of the software maker’s stock worth $241,000 after buying an additional 38 shares during the last quarter. Calamos Advisors LLC purchased a new position in shares of Cadence Design Systems in the 1st quarter worth $241,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Cadence Design Systems by 140.4% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,743 shares of the software maker’s stock worth $1,040,000 after buying an additional 2,186 shares during the period. Finally, Bryn Mawr Trust Advisors LLC boosted its holdings in Cadence Design Systems by 22.4% in the first quarter. Bryn Mawr Trust Advisors LLC now owns 908 shares of the software maker’s stock valued at $252,000 after acquiring an additional 166 shares during the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Paul Scannell sold 10,500 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $339.00, for a total transaction of $3,559,500.00. Following the completion of the sale, the vice president directly owned 33,946 shares in the company, valued at $11,507,694. This trade represents a 23.62% decrease in their ownership of the stock. The sale was disclosed in a legal 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 James D. Plummer sold 1,511 shares of Cadence Design Systems 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 sale, the director directly owned 23,264 shares in the company, valued at approximately $8,871,493.76. The trade was a 6.10% 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 quarter. Company insiders own 0.49% of the company’s stock.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of research reports. Citigroup boosted their price target on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Stifel Nicolaus lifted their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. KeyCorp boosted their target price on Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Finally, Robert W. Baird raised their price target 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Cadence Design Systems Trading Down 0.1%

CDNS opened at $329.93 on Tuesday. The firm’s 50 day moving average is $375.40 and its 200-day moving average is $328.75. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. 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 capitalization of $91.00 billion, a P/E ratio of 76.91, a P/E/G ratio of 3.91 and a beta of 1.15.

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, beating the consensus estimate of $1.91 by $0.05. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.57 earnings per share. 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. Analysts expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Cadence Design Systems 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.