Kestra Advisory Services LLC Reduces Stock Holdings in Cadence Design Systems, Inc. $CDNS

Kestra Advisory Services LLC lowered its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 42.1% during the first quarter, Holdings Channel reports. The fund owned 4,662 shares of the software maker’s stock after selling 3,394 shares during the quarter. Kestra Advisory Services LLC’s holdings in Cadence Design Systems were worth $1,295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Brown Lisle Cummings Inc. lifted its position in Cadence Design Systems by 860.0% during the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in Cadence Design Systems during the 4th quarter worth about $28,000. Swiss RE Ltd. acquired a new stake in Cadence Design Systems during the 4th quarter worth about $29,000. Lodestone Wealth Management LLC purchased a new position in shares of Cadence Design Systems during the 4th quarter valued at about $30,000. Finally, Imprint Wealth LLC acquired a new position in shares of Cadence Design Systems in the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Activity

In related news, Director James D. Plummer sold 1,511 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total transaction of $576,204.74. Following the completion of the sale, the director directly owned 23,264 shares in the company, valued at approximately $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $391.00, for a total transaction of $782,000.00. Following the sale, the vice president directly owned 126,586 shares of the company’s stock, valued at $49,495,126. The trade was a 1.56% 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 sold 157,057 shares of company stock valued at $60,272,277 in the last three months. Company insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of recent research 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. Rosenblatt Securities boosted their price target on Cadence Design Systems from $375.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Robert W. Baird upped their price objective 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. Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company lifted their target price on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Cadence Design Systems Trading Down 2.2%

Shares of CDNS stock opened at $337.01 on Thursday. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The company has a market cap of $92.95 billion, a price-to-earnings ratio of 78.56, a PEG ratio of 4.08 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. The stock has a 50 day simple moving average of $374.79 and a 200-day simple moving average of $329.15.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping the consensus estimate of $1.91 by $0.05. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The firm’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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. On average, equities research analysts expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

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.