PFG Investments LLC Makes New $372,000 Investment in Cadence Design Systems, Inc. $CDNS

PFG Investments LLC purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the first quarter, Holdings Channel.com reports. The fund purchased 1,339 shares of the software maker’s stock, valued at approximately $372,000.

Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC raised its holdings in shares of Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after buying an additional 676 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Cadence Design Systems by 3.8% during the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock valued at $560,000 after buying an additional 80 shares during the last quarter. Thompson Davis & CO. Inc. purchased a new stake in shares of Cadence Design Systems during the second quarter valued at $205,000. NewEdge Advisors LLC increased its position in shares of Cadence Design Systems by 39.3% in the 2nd quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock valued at $10,720,000 after acquiring an additional 9,807 shares during the period. Finally, Glenview Trust co purchased a new position in Cadence Design Systems in the 2nd quarter worth $226,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CDNS. Robert W. Baird lifted their price target on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Wells Fargo & Company raised 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. Stifel Nicolaus lifted their target price on Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. KeyCorp upped their target price on Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a report on Thursday, July 2nd. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $386.59.

Insider Buying and Selling

In other news, Director James D. Plummer sold 1,511 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total transaction of $576,204.74. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 51,887 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the completion of the transaction, the chief executive officer owned 303,525 shares of the company’s stock, valued at approximately $112,304,250. This represents a 14.60% 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 sold a total of 178,557 shares of company stock valued at $66,925,452 in the last three months. 0.49% of the stock is currently owned by company insiders.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $374.06 on Thursday. The firm’s fifty day moving average is $372.53 and its two-hundred day moving average is $326.04. The firm has a market cap of $103.17 billion, a price-to-earnings ratio of 87.19, a PEG ratio of 4.39 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69.

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 analysts’ consensus estimates of $1.91 by $0.05. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The company’s revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the business posted $1.57 EPS. 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. Research analysts expect 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.