Cadence Design Systems, Inc. $CDNS Shares Sold by MinichMacGregor Wealth Management LLC

MinichMacGregor Wealth Management LLC lessened its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 10.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,882 shares of the software maker’s stock after selling 3,247 shares during the period. MinichMacGregor Wealth Management LLC’s holdings in Cadence Design Systems were worth $9,206,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in Cadence Design Systems by 21.8% in the second quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker’s stock valued at $1,835,227,000 after buying an additional 874,392 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Cadence Design Systems by 1.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,385,655 shares of the software maker’s stock valued at $1,270,704,000 after acquiring an additional 48,937 shares during the period. J. Stern & Co. LLP raised its position in shares of Cadence Design Systems by 10,159.3% during the fourth quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after purchasing an additional 2,924,470 shares during the period. Amundi grew its position in Cadence Design Systems by 3.8% in the 1st quarter. Amundi now owns 2,060,334 shares of the software maker’s stock valued at $572,488,000 after purchasing an additional 75,492 shares during the period. Finally, Legal & General Group Plc bought a new stake in Cadence Design Systems during the 2nd quarter valued at $702,615,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on CDNS. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Robert W. Baird raised their price target on shares of Cadence Design Systems from $415.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, July 28th. Rothschild & Co Redburn upped their target price on Cadence Design Systems from $385.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Piper Sandler boosted their price objective on Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Finally, The Goldman Sachs Group raised their target price on Cadence Design Systems from $410.00 to $470.00 and gave the company a “buy” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $404.14.

Cadence Design Systems Trading Down 1.0%

Cadence Design Systems stock traded down $3.31 during trading hours on Wednesday, reaching $330.89. The company had a trading volume of 836,123 shares, compared to its average volume of 2,435,986. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The company has a 50-day moving average price of $319.68 and a 200 day moving average price of $338.26. The firm has a market cap of $91.12 billion, a price-to-earnings ratio of 65.78, a P/E/G ratio of 3.73 and a beta of 1.13.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping the consensus estimate of $2.05 by $0.06. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. Cadence Design Systems’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period last year, the business posted $1.65 earnings per share. 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 analysts forecast that Cadence Design Systems, Inc. will post 6.41 earnings per share for the current year.

Insider Transactions at Cadence Design Systems

In other news, Director Ita Brennan sold 180 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $285.51, for a total transaction of $51,391.80. Following the completion of the sale, the director owned 7,824 shares of the company’s stock, valued at $2,233,830.24. This represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 280 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total value of $94,920.00. Following the completion of the transaction, the vice president directly owned 31,720 shares in the company, valued at approximately $10,753,080. This represents a 0.88% 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 sold 6,960 shares of company stock valued at $2,185,879 over the last 90 days. 0.49% of the stock is owned by corporate insiders.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware, and semiconductor intellectual property. Its products help engineers design, verify, analyze, and manufacture complex semiconductor chips, printed circuit boards, and electronic systems.

The company’s offerings include digital and custom/analog integrated-circuit design tools, functional verification and emulation platforms, semiconductor intellectual property, and system analysis solutions.