Rafferty Asset Management LLC Lowers Stock Holdings in Cadence Design Systems, Inc. $CDNS

Rafferty Asset Management LLC reduced its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,584 shares of the software maker’s stock after selling 4,714 shares during the quarter. Rafferty Asset Management LLC’s holdings in Cadence Design Systems were worth $44,113,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDNS. Peterson Wealth Services grew its position in Cadence Design Systems by 1,501.3% during the third quarter. Peterson Wealth Services now owns 187,115 shares of the software maker’s stock valued at $65,726,000 after acquiring an additional 175,430 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Cadence Design Systems by 83.3% in the 3rd quarter. Pacer Advisors Inc. now owns 182,348 shares of the software maker’s stock worth $64,052,000 after acquiring an additional 82,856 shares during the last quarter. Stanley Laman Group Ltd. purchased a new stake in shares of Cadence Design Systems in the 3rd quarter valued at $6,177,000. Patton Fund Management Inc. grew its holdings in shares of Cadence Design Systems by 1,743.7% during the 3rd quarter. Patton Fund Management Inc. now owns 13,994 shares of the software maker’s stock valued at $4,916,000 after purchasing an additional 13,235 shares during the last quarter. Finally, Westerkirk Capital Inc. purchased a new position in Cadence Design Systems in the 2nd quarter worth $2,024,000. Institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Oppenheimer upgraded shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price target for the company in a research report on Monday, December 1st. Citigroup initiated coverage on Cadence Design Systems in a report on Monday, November 24th. They set a “buy” rating and a $385.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Stifel Nicolaus set a $395.00 price objective on Cadence Design Systems in a research report on Wednesday, February 18th. Finally, Morgan Stanley cut their target price on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus target price of $376.50.

Insider Activity

In other Cadence Design Systems news, CFO John M. Wall sold 27,805 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total value of $8,857,838.85. Following the completion of the sale, the chief financial officer directly owned 69,957 shares in the company, valued at $22,286,201.49. This trade represents a 28.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Paul Scannell sold 5,490 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total value of $1,863,470.70. Following the transaction, the vice president owned 20,321 shares in the company, valued at $6,897,557.03. This trade represents a 21.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 56,475 shares of company stock worth $18,505,486. 1.99% of the stock is owned by company insiders.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $301.40 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.67 and a current ratio of 2.86. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The firm has a market cap of $82.18 billion, a P/E ratio of 74.24, a P/E/G ratio of 3.56 and a beta of 1.01. The business’s 50 day moving average price is $305.71 and its 200-day moving average price is $325.91.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Tuesday, February 17th. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.08. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. Cadence Design Systems had a return on equity of 29.34% and a net margin of 20.93%.The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.88 earnings per share. Cadence Design Systems has set its Q1 2026 guidance at 1.890-1.950 EPS and its FY 2026 guidance at 8.050-8.150 EPS. On average, equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current 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.