Pittenger & Anderson Inc. Decreases Stock Holdings in Cadence Design Systems, Inc. $CDNS

Pittenger & Anderson Inc. lowered its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 88.0% in the first quarter, HoldingsChannel.com reports. The firm owned 486 shares of the software maker’s stock after selling 3,568 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Cadence Design Systems were worth $135,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CDNS. MUFG Securities EMEA plc grew its position in shares of Cadence Design Systems by 113.9% in the 4th quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock valued at $3,488,000 after buying an additional 5,943 shares during the last quarter. Sun Financial Inc purchased a new position in shares of Cadence Design Systems during the fourth quarter worth about $1,225,000. DDD Partners LLC boosted its stake in shares of Cadence Design Systems by 27.4% during the fourth quarter. DDD Partners LLC now owns 41,968 shares of the software maker’s stock worth $13,118,000 after buying an additional 9,024 shares during the period. Leonteq Securities AG purchased a new position in shares of Cadence Design Systems during the fourth quarter worth about $1,105,000. Finally, Indivisible Partners purchased a new position in shares of Cadence Design Systems during the fourth quarter worth about $4,795,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Price Performance

CDNS stock opened at $384.17 on Monday. The firm has a 50 day moving average of $374.82 and a 200-day moving average of $327.01. The company has a market cap of $105.96 billion, a price-to-earnings ratio of 89.55, a PEG ratio of 4.55 and a beta of 1.15. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the firm posted $1.57 EPS. The company’s revenue was up 18.6% compared to the same quarter last year. 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, equities analysts expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In related news, Director James D. Plummer sold 1,511 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $381.34, for a total value of $576,204.74. Following the sale, the director directly owned 23,264 shares in the company, valued at $8,871,493.76. The trade was a 6.10% decrease in their position. The transaction was disclosed in a filing 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, CFO John M. Wall sold 21,500 shares of the stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $309.45, for a total transaction of $6,653,175.00. Following the completion of the sale, the chief financial officer directly owned 86,875 shares in the company, valued at approximately $26,883,468.75. The trade was a 19.84% 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. Over the last ninety days, insiders have sold 178,557 shares of company stock worth $66,925,452. Insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

CDNS has been the subject of several analyst reports. Stifel Nicolaus upped their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Robert W. Baird boosted their target price on Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Piper Sandler upped their price target on Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $360.00 price target on shares of Cadence Design Systems in a report on Friday, April 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.00.

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.