Kelleher Financial Advisors Buys New Stake in Cadence Design Systems, Inc. $CDNS

Kelleher Financial Advisors purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,692 shares of the software maker’s stock, valued at approximately $635,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CDNS. Avalon Trust Co acquired a new position in shares of Cadence Design Systems in the 2nd quarter valued at about $30,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cadence Design Systems in the fourth quarter worth about $28,000. Imprint Wealth LLC acquired a new stake in Cadence Design Systems during the third quarter worth about $31,000. Arlington Trust Co LLC grew its holdings in Cadence Design Systems by 154.3% during the second quarter. Arlington Trust Co LLC now owns 89 shares of the software maker’s stock worth $33,000 after acquiring an additional 54 shares during the period. Finally, Whipplewood Advisors LLC raised its position in Cadence Design Systems by 933.3% during the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Stock Up 0.3%

Cadence Design Systems stock opened at $324.82 on Friday. The stock has a market capitalization of $89.45 billion, a PE ratio of 64.58, a price-to-earnings-growth ratio of 3.49 and a beta of 1.15. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69. The business has a 50 day simple moving average of $360.72 and a 200-day simple moving average of $331.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the firm posted $1.65 EPS. The business’s revenue was up 24.2% on a year-over-year basis. 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. On average, analysts anticipate that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Insider Activity at Cadence Design Systems

In other news, VP Paul Scannell sold 7,081 shares of Cadence Design Systems stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $393.91, for a total value of $2,789,276.71. Following the sale, the vice president owned 32,181 shares in the company, valued at $12,676,417.71. This trade represents a 18.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 dated Thursday, June 11th. The stock was sold at an average price of $381.34, for a total transaction of $576,204.74. Following the sale, the director directly owned 23,264 shares of the company’s stock, valued at $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. Insiders sold a total of 140,557 shares of company stock valued at $54,631,737 in the last three months. Company insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the subject of a number of analyst reports. Piper Sandler boosted their price target on Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Wall Street Zen raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Benchmark reiterated a “buy” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Finally, Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a report on Wednesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $405.69.

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.