SwitchPoint Financial Planning LLC Purchases New Position in Cadence Design Systems, Inc. $CDNS

SwitchPoint Financial Planning LLC purchased a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, Holdings Channel reports. The fund purchased 10,354 shares of the software maker’s stock, valued at approximately $3,886,000. Cadence Design Systems accounts for 2.2% of SwitchPoint Financial Planning LLC’s holdings, making the stock its 5th biggest holding.

A number of other hedge funds also recently bought and sold shares of the business. Whipplewood Advisors LLC grew its position in shares of Cadence Design Systems by 933.3% in the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares during the period. Brown Lisle Cummings Inc. raised its position in shares of Cadence Design Systems by 860.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Cadence Design Systems during the 4th quarter worth about $28,000. Swiss RE Ltd. purchased a new position in Cadence Design Systems in the 4th quarter valued at about $29,000. Finally, Avalon Trust Co purchased a new position in Cadence Design Systems in the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 280 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $339.00, for a total value of $94,920.00. Following the transaction, the vice president owned 31,720 shares of the company’s stock, valued at $10,753,080. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $323.32, for a total transaction of $646,640.00. Following the transaction, the vice president directly owned 124,586 shares of the company’s stock, valued at approximately $40,281,145.52. This trade represents a 1.58% 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 91,129 shares of company stock worth $36,206,647 in the last 90 days. Insiders own 0.49% of the company’s stock.

Cadence Design Systems Trading Up 3.8%

Shares of Cadence Design Systems stock opened at $347.55 on Friday. The stock has a 50 day moving average of $349.11 and a 200 day moving average of $333.21. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. The firm has a market capitalization of $95.71 billion, a price-to-earnings ratio of 69.10, a PEG ratio of 3.59 and a beta of 1.15. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, July 27th. The software maker reported $2.11 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 company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The company’s revenue for the quarter 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. As a group, research analysts predict that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on CDNS. Wells Fargo & Company boosted their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Bank of America boosted their price target on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Finally, Benchmark reissued a “buy” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.