Cadence Design Systems, Inc. $CDNS Shares Acquired by Wedmont Private Capital

Wedmont Private Capital increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 211.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 30,119 shares of the software maker’s stock after purchasing an additional 20,450 shares during the quarter. Wedmont Private Capital’s holdings in Cadence Design Systems were worth $9,945,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Cadence Design Systems by 1.1% during the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock worth $3,939,561,000 after acquiring an additional 135,206 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Cadence Design Systems by 21.8% in the 2nd quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker’s stock valued at $1,835,227,000 after purchasing an additional 874,392 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Cadence Design Systems by 1.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,385,655 shares of the software maker’s stock valued at $1,270,704,000 after purchasing an additional 48,937 shares during the last quarter. J. Stern & Co. LLP grew its holdings in shares of Cadence Design Systems by 10,159.3% during the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after purchasing an additional 2,924,470 shares during the period. Finally, Amundi grew its holdings in shares of Cadence Design Systems by 3.8% during the 1st quarter. Amundi now owns 2,060,334 shares of the software maker’s stock worth $572,488,000 after purchasing an additional 75,492 shares during the period. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cadence Design Systems

In related news, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $350.07, for a total transaction of $437,587.50. Following the sale, the director directly owned 39,544 shares of the company’s stock, valued at $13,843,168.08. This represents a 3.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita Brennan sold 180 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $285.51, for a total transaction of $51,391.80. Following the sale, the director owned 7,824 shares in the company, valued at approximately $2,233,830.24. This trade represents a 2.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 6,960 shares of company stock worth $2,185,879. 0.49% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CDNS shares. Piper Sandler boosted their price objective on shares of Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Robert W. Baird increased their target price on shares of Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 28th. Bank of America lifted their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Oppenheimer reissued a “market perform” rating and issued a $300.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $405.06.

Cadence Design Systems Trading Up 0.9%

CDNS traded up $2.98 during mid-day trading on Friday, hitting $351.82. 444,552 shares of the stock were exchanged, compared to its average volume of 2,446,450. The firm’s fifty day moving average is $319.31 and its two-hundred day moving average is $337.01. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The company has a market cap of $96.89 billion, a PE ratio of 69.96, a PEG ratio of 3.81 and a beta of 1.13. 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 earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.06. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.Cadence Design Systems’s revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. 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. Equities analysts forecast that Cadence Design Systems, Inc. will post 6.41 earnings per share for the current fiscal year.

Cadence Design Systems Profile

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware, and semiconductor intellectual property. Its products help engineers design, verify, analyze, and manufacture complex semiconductor chips, printed circuit boards, and electronic systems.

The company’s offerings include digital and custom/analog integrated-circuit design tools, functional verification and emulation platforms, semiconductor intellectual property, and system analysis solutions.