Private Advisor Group LLC Sells 3,427 Shares of Cadence Design Systems, Inc. $CDNS

Private Advisor Group LLC trimmed its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 49.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,471 shares of the software maker’s stock after selling 3,427 shares during the period. Private Advisor Group LLC’s holdings in Cadence Design Systems were worth $965,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CDNS. Y Intercept Hong Kong Ltd bought a new position in shares of Cadence Design Systems during the first quarter worth about $1,825,000. Leonteq Securities AG increased its position in Cadence Design Systems by 10.1% during the 1st quarter. Leonteq Securities AG now owns 3,892 shares of the software maker’s stock valued at $1,081,000 after purchasing an additional 356 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Cadence Design Systems by 64.1% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 111,843 shares of the software maker’s stock worth $31,078,000 after purchasing an additional 43,680 shares during the last quarter. Platform Technology Partners raised its holdings in Cadence Design Systems by 52.8% during the 1st quarter. Platform Technology Partners now owns 1,019 shares of the software maker’s stock worth $283,000 after purchasing an additional 352 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its position in shares of Cadence Design Systems by 4.4% in the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 20,905 shares of the software maker’s stock worth $5,809,000 after purchasing an additional 880 shares during the period. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, 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 value of $576,204.74. Following the completion of the sale, the director directly owned 23,264 shares of the company’s stock, valued at $8,871,493.76. The trade was a 6.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 that occurred on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the transaction, the director directly owned 8,004 shares in the company, valued at approximately $3,101,149.80. This trade represents a 2.20% decrease in their ownership of the stock. 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 178,557 shares of company stock worth $66,925,452 over the last 90 days. 0.49% of the stock is owned by company insiders.

Cadence Design Systems Stock Down 1.6%

Cadence Design Systems stock opened at $377.92 on Tuesday. The company has a market capitalization of $104.24 billion, a PE ratio of 88.09, a PEG ratio of 4.55 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 firm’s fifty day moving average is $375.79 and its 200 day moving average is $327.44. 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 posted its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company posted $1.57 earnings per share. The business’s quarterly 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. As a group, sell-side analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Analyst Ratings Changes

CDNS has been the topic of a number of analyst reports. Piper Sandler upped their price objective on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Robert W. Baird boosted their target price on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Citigroup increased their price target on Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $360.00 price objective on shares of Cadence Design Systems in a research report on Friday, April 24th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $387.00.

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.