PNC Financial Services Group Inc. Purchases 3,562 Shares of Cadence Design Systems, Inc. $CDNS

PNC Financial Services Group Inc. boosted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 369,717 shares of the software maker’s stock after buying an additional 3,562 shares during the period. PNC Financial Services Group Inc.’s holdings in Cadence Design Systems were worth $115,566,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CDNS. Y.D. More Investments Ltd purchased a new position in shares of Cadence Design Systems in the third quarter worth $26,000. Caitlin John LLC purchased a new stake in shares of Cadence Design Systems during the third quarter valued at $29,000. Imprint Wealth LLC bought a new stake in Cadence Design Systems in the 3rd quarter worth about $31,000. Lodestone Wealth Management LLC bought a new stake in Cadence Design Systems in the 4th quarter worth about $30,000. Finally, Cloud Capital Management LLC purchased a new position in Cadence Design Systems in the 3rd quarter worth about $35,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $295.03, for a total value of $53,105.40. Following the transaction, the director directly owned 7,470 shares in the company, valued at approximately $2,203,874.10. This trade represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Scannell sold 1,071 shares of Cadence Design Systems stock in a transaction on Monday, May 18th. The stock was sold at an average price of $345.06, for a total transaction of $369,559.26. Following the transaction, the vice president owned 32,181 shares in the company, valued at $11,104,375.86. This represents a 3.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 41,251 shares of company stock valued at $13,294,350 in the last ninety days. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Trading Up 3.8%

Cadence Design Systems stock opened at $350.89 on Thursday. The business has a 50-day simple moving average of $309.84 and a two-hundred day simple moving average of $310.60. The company has a market cap of $96.78 billion, a P/E ratio of 81.79, a P/E/G ratio of 4.00 and a beta of 1.13. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $376.45. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.05. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.57 EPS. 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. Analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Analyst Ratings Changes

CDNS has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $395.00 price target on shares of Cadence Design Systems in a report on Wednesday, February 18th. Piper Sandler boosted their price objective on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Wells Fargo & Company increased their price objective on shares of Cadence Design Systems from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of Cadence Design Systems in a report on Tuesday, April 28th. Finally, KeyCorp lifted their target price on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average price target of $380.59.

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.