Peterson Wealth Services Has $3.72 Million Position in Cadence Design Systems, Inc. $CDNS

Peterson Wealth Services lowered its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 93.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,889 shares of the software maker’s stock after selling 175,226 shares during the quarter. Cadence Design Systems comprises approximately 1.0% of Peterson Wealth Services’ investment portfolio, making the stock its 26th biggest position. Peterson Wealth Services’ holdings in Cadence Design Systems were worth $3,716,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CDNS. Y.D. More Investments Ltd acquired a new stake in Cadence Design Systems during the third quarter worth approximately $26,000. Caitlin John LLC acquired a new stake in Cadence Design Systems during the third quarter worth approximately $29,000. Lodestone Wealth Management LLC acquired a new stake in Cadence Design Systems during the fourth quarter worth approximately $30,000. Imprint Wealth LLC acquired a new stake in Cadence Design Systems during the third quarter worth approximately $31,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Cadence Design Systems during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the subject of several recent analyst reports. KeyCorp upped their target price on Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Stifel Nicolaus upped their target price on Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup upped their target price on Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Robert W. Baird upped their target price on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and an average price target of $386.59.

Cadence Design Systems Trading Down 0.4%

NASDAQ CDNS opened at $383.74 on Friday. 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, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company has a market cap of $105.84 billion, a price-to-earnings ratio of 89.45, a price-to-earnings-growth ratio of 4.56 and a beta of 1.15. The business’s fifty day moving average is $342.23 and its 200 day moving average is $318.27.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating 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 company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the business posted $1.57 EPS. Cadence Design Systems’s revenue for the quarter 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 expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Insider Transactions at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $337.49, for a total transaction of $337,490.00. Following the completion of the transaction, the vice president directly owned 127,586 shares of the company’s stock, valued at $43,058,999.14. This trade represents a 0.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 7,081 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $393.91, for a total value of $2,789,276.71. Following the transaction, the vice president directly owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. This represents a 18.04% 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. In the last 90 days, insiders sold 176,046 shares of company stock worth $65,830,801. Insiders own 0.49% of the company’s stock.

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.