Patton Fund Management Inc. Has $241,000 Stake in Cadence Design Systems, Inc. $CDNS

Patton Fund Management Inc. lowered its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 91.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 869 shares of the software maker’s stock after selling 9,376 shares during the quarter. Patton Fund Management Inc.’s holdings in Cadence Design Systems were worth $241,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. acquired a new position in Cadence Design Systems in the 4th quarter valued at approximately $28,000. Imprint Wealth LLC acquired a new position in shares of Cadence Design Systems during the third quarter worth $31,000. Swiss RE Ltd. bought a new stake in shares of Cadence Design Systems in the fourth quarter worth $29,000. Brown Lisle Cummings Inc. grew its stake in shares of Cadence Design Systems by 860.0% in the first 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. Finally, Lodestone Wealth Management LLC acquired a new stake in Cadence Design Systems in the fourth quarter valued at $30,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the sale, the director owned 8,004 shares in the company, valued at $3,101,149.80. The trade was a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 stock in a transaction on Thursday, June 11th. The stock was 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 in the company, valued at approximately $8,871,493.76. This represents a 6.10% 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. Insiders have sold a total of 178,557 shares of company stock worth $66,925,452 over the last ninety days. 0.49% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CDNS has been the subject of several analyst reports. Stifel Nicolaus raised their target price on Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Citigroup increased their price target on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Piper Sandler raised their price objective on Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Wells Fargo & Company lifted 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. Finally, KeyCorp increased their target price on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $386.59.

Cadence Design Systems Stock Up 0.7%

Shares of Cadence Design Systems stock opened at $375.32 on Wednesday. Cadence Design Systems, Inc. has a one year low of $262.75 and a one 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. The stock’s 50-day moving average is $366.84 and its 200 day moving average is $323.79. The firm has a market cap of $103.52 billion, a price-to-earnings ratio of 87.49, a PEG ratio of 4.41 and a beta of 1.15.

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

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.