Elevation Point Wealth Partners LLC Buys Shares of 3,689 Cadence Design Systems, Inc. $CDNS

Elevation Point Wealth Partners LLC purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, Holdings Channel.com reports. The fund purchased 3,689 shares of the software maker’s stock, valued at approximately $1,384,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CDNS. Avalon Trust Co bought a new position in Cadence Design Systems during the second quarter worth about $30,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Cadence Design Systems in the fourth quarter valued at approximately $28,000. Imprint Wealth LLC bought a new stake in Cadence Design Systems during the 3rd quarter valued at $31,000. Arlington Trust Co LLC lifted its holdings in Cadence Design Systems by 154.3% during the 2nd quarter. Arlington Trust Co LLC now owns 89 shares of the software maker’s stock worth $33,000 after purchasing an additional 54 shares in the last quarter. Finally, Whipplewood Advisors LLC lifted its holdings in shares of Cadence Design Systems by 933.3% in the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after buying an additional 84 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 25,005 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total value of $10,377,075.00. Following the completion of the transaction, the chief executive officer directly owned 253,519 shares in the company, valued at $105,210,385. The trade was a 8.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 7,081 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $393.91, for a total value of $2,789,276.71. Following the completion of the transaction, the vice president directly owned 32,181 shares in the company, valued at $12,676,417.71. This trade represents a 18.04% 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. Insiders have sold 89,599 shares of company stock valued at $35,710,627 over the last ninety days. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $319.02 on Monday. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average price is $353.70 and its 200-day moving average price is $331.55. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The stock has a market cap of $87.85 billion, a P/E ratio of 63.42, a P/E/G ratio of 3.42 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the company earned $1.65 earnings per share. The company’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. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on CDNS. KeyCorp reissued an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $415.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, July 28th. Wells Fargo & Company raised their price target on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Morgan Stanley restated an “overweight” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Finally, Bank of America raised their price target on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $405.69.

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.