Proficio Capital Partners LLC Takes Position in Cadence Design Systems, Inc. $CDNS

Proficio Capital Partners LLC bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,607 shares of the software maker’s stock, valued at approximately $978,000.

Several other institutional investors also recently bought and sold shares of the stock. Avalon Trust Co bought a new stake in Cadence Design Systems in the 2nd quarter valued at $30,000. Fiduciary Financial Advisors bought a new position in shares of Cadence Design Systems during the 2nd quarter valued at about $31,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cadence Design Systems during the 4th quarter valued at about $28,000. Arlington Trust Co LLC grew its position in shares of Cadence Design Systems by 154.3% during the second quarter. Arlington Trust Co LLC now owns 89 shares of the software maker’s stock valued at $33,000 after purchasing an additional 54 shares in the last quarter. Finally, Imprint Wealth LLC bought a new stake in shares of Cadence Design Systems in the third quarter worth about $31,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Stock Down 7.6%

Shares of NASDAQ:CDNS opened at $313.04 on Wednesday. The firm has a market capitalization of $86.21 billion, a PE ratio of 62.23, a price-to-earnings-growth ratio of 3.64 and a beta of 1.14. The business has a 50 day simple moving average of $345.84 and a two-hundred day simple moving average of $333.94. 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 0.36, a current ratio of 1.74 and a quick ratio of 1.53.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.58 billion. During the same period in the prior year, the business posted $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. On average, equities analysts predict that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CDNS shares. Citigroup boosted their target price 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. Rosenblatt Securities lifted their price objective on Cadence Design Systems from $410.00 to $420.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Stifel Nicolaus increased their target price on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Finally, Robert W. Baird raised their target price on shares of Cadence Design Systems from $415.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $405.69.

Insiders Place Their Bets

In other news, Director Vincentelli Albert Sangiovanni sold 1,250 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $320.88, for a total value of $401,100.00. Following the transaction, the director directly owned 40,794 shares in the company, valued at approximately $13,089,978.72. This represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total transaction of $69,741.00. Following the completion of the transaction, the director owned 8,004 shares in the company, valued at approximately $3,101,149.80. The trade was a 2.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 7,221 shares of company stock valued at $2,570,606. Insiders own 0.49% of the company’s stock.

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.