Cadence Design Systems, Inc. $CDNS Stock Bought by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC increased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 21.2% in the third quarter, HoldingsChannel.com reports. The firm owned 37,893 shares of the software maker’s stock after buying an additional 6,636 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Cadence Design Systems were worth $12,512,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of Cadence Design Systems by 21.8% in the second quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker’s stock valued at $1,835,227,000 after buying an additional 874,392 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cadence Design Systems by 1.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,385,655 shares of the software maker’s stock valued at $1,270,704,000 after buying an additional 48,937 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Cadence Design Systems by 1,097.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,818,141 shares of the software maker’s stock valued at $930,522,000 after buying an additional 2,582,812 shares in the last quarter. Amundi lifted its position in shares of Cadence Design Systems by 3.8% during the 1st quarter. Amundi now owns 2,060,334 shares of the software maker’s stock valued at $572,488,000 after buying an additional 75,492 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in Cadence Design Systems in the 2nd quarter valued at $702,615,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

CDNS has been the subject of several recent analyst reports. FBN Securities initiated coverage on shares of Cadence Design Systems in a report on Friday, September 11th. They issued an “outperform” rating and a $375.00 price target for the company. Rothschild & Co Redburn increased their price objective on shares of Cadence Design Systems from $385.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Benchmark reiterated a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. The Goldman Sachs Group boosted their target price on shares of Cadence Design Systems from $410.00 to $470.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Rosenblatt Securities upped their price target on shares of Cadence Design Systems from $410.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $404.14.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Scannell sold 280 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $339.00, for a total value of $94,920.00. Following the transaction, the vice president directly owned 31,720 shares of the company’s stock, valued at approximately $10,753,080. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $350.07, for a total transaction of $437,587.50. Following the transaction, the director owned 39,544 shares in the company, valued at $13,843,168.08. The trade was a 3.06% decrease in their ownership of the stock. 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. In the last three months, insiders sold 8,960 shares of company stock valued at $2,834,139. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS traded up $6.35 during midday trading on Monday, hitting $325.86. The stock had a trading volume of 1,854,555 shares, compared to its average volume of 2,444,869. The company has a market capitalization of $89.74 billion, a PE ratio of 64.78, a P/E/G ratio of 3.42 and a beta of 1.13. The stock has a 50 day simple moving average of $318.85 and a 200-day simple moving average of $339.32. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.58 billion. During the same period in the previous year, the company posted $1.65 earnings per share. The business’s 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. On average, sell-side analysts expect that Cadence Design Systems, Inc. will post 6.41 EPS for the current fiscal year.

About Cadence Design Systems

Cadence Design Systems, Inc develops computational software, hardware, and semiconductor intellectual property used to design and verify electronic systems and integrated circuits. Its electronic design automation (EDA) solutions support chip development across areas such as digital and custom IC design, functional verification, emulation, prototyping, and system analysis.

The company also provides semiconductor IP, including processor cores, interconnect technologies, memory interfaces, and other building blocks that help customers develop complex chips.