Sequoia Financial Advisors LLC Purchases 2,115 Shares of Cadence Design Systems, Inc. $CDNS

Sequoia Financial Advisors LLC grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 24.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,607 shares of the software maker’s stock after purchasing an additional 2,115 shares during the period. Sequoia Financial Advisors LLC’s holdings in Cadence Design Systems were worth $2,947,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CDNS. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Cadence Design Systems by 3.1% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker’s stock worth $287,000 after buying an additional 31 shares in the last quarter. Westfuller Advisors LLC grew its holdings in shares of Cadence Design Systems by 8.2% in the first quarter. Westfuller Advisors LLC now owns 408 shares of the software maker’s stock valued at $113,000 after acquiring an additional 31 shares in the last quarter. Spirepoint Private Client LLC increased its position in shares of Cadence Design Systems by 4.6% during the fourth quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker’s stock valued at $226,000 after acquiring an additional 32 shares during the last quarter. Townsquare Capital LLC increased its position in shares of Cadence Design Systems by 3.6% during the fourth quarter. Townsquare Capital LLC now owns 977 shares of the software maker’s stock valued at $305,000 after acquiring an additional 34 shares during the last quarter. Finally, Global Assets Advisory LLC lifted its holdings in Cadence Design Systems by 2.1% during the fourth quarter. Global Assets Advisory LLC now owns 1,726 shares of the software maker’s stock worth $540,000 after acquiring an additional 35 shares during the period. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. KeyCorp upped their price objective on Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Wells Fargo & Company boosted their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Rosenblatt Securities restated a “buy” rating and set a $360.00 price objective on shares of Cadence Design Systems in a report on Friday, April 24th. Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $400.00 target price on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.00.

Cadence Design Systems Trading Down 1.6%

Shares of CDNS stock opened at $377.92 on Tuesday. The stock has a market capitalization of $104.24 billion, a price-to-earnings ratio of 88.09, a PEG ratio of 4.55 and a beta of 1.15. The company’s fifty day simple moving average is $375.79 and its two-hundred day simple moving average is $327.44. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period last year, the company 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. As a group, analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Insider Buying and Selling at Cadence Design Systems

In other news, CFO John M. Wall sold 21,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $309.45, for a total value of $6,653,175.00. Following the completion of the transaction, the chief financial officer directly owned 86,875 shares in the company, valued at approximately $26,883,468.75. This trade represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total transaction of $576,204.74. Following the transaction, the director directly owned 23,264 shares of the company’s stock, valued at approximately $8,871,493.76. This represents a 6.10% decrease in their position. 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 178,557 shares of company stock worth $66,925,452. 0.49% of the stock is owned by corporate insiders.

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.