Proficio Capital Partners LLC Invests $978,000 in Cadence Design Systems, Inc. $CDNS

Proficio Capital Partners LLC acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,607 shares of the software maker’s stock, valued at approximately $978,000.

Other hedge funds have also recently bought and sold shares of the company. Avalon Trust Co bought a new stake in shares of Cadence Design Systems in the 2nd quarter valued at about $30,000. Fiduciary Financial Advisors acquired a new stake in shares of Cadence Design Systems in the second quarter valued at approximately $31,000. University of Texas Texas AM Investment Management Co. bought a new position in Cadence Design Systems during the 4th quarter worth $28,000. Imprint Wealth LLC bought a new stake in shares of Cadence Design Systems during the 3rd quarter valued at $31,000. Finally, Arlington Trust Co LLC grew its holdings in shares of Cadence Design Systems by 154.3% during the 2nd quarter. Arlington Trust Co LLC now owns 89 shares of the software maker’s stock worth $33,000 after purchasing an additional 54 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Stock Up 0.8%

Shares of NASDAQ:CDNS opened at $334.68 on Thursday. The firm has a market cap of $92.17 billion, a P/E ratio of 66.54, a P/E/G ratio of 3.56 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 business has a fifty day simple moving average of $349.91 and a 200 day simple moving average of $332.76. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36.

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, beating 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 company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the firm posted $1.65 earnings per share. The business’s quarterly revenue 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. Analysts predict that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Bank of America raised their target price on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a research note on Wednesday, May 27th. Wall Street Zen upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Wells Fargo & Company boosted their target price on shares of 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, Citigroup increased their price target on Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $405.69.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, CEO Anirudh Devgan sold 25,005 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total value of $10,377,075.00. Following the completion of the sale, the chief executive officer directly owned 253,519 shares in the company, valued at approximately $105,210,385. The trade was a 8.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $323.32, for a total transaction of $646,640.00. Following the transaction, the vice president owned 124,586 shares in the company, valued at $40,281,145.52. The trade was 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 have sold 89,599 shares of company stock worth $35,710,627 over the last quarter. 0.49% of the stock is owned by company insiders.

Cadence Design Systems Company 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.