Goelzer Investment Management Inc. Makes New Investment in Cadence Design Systems, Inc. $CDNS

Goelzer Investment Management Inc. purchased a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the third quarter, HoldingsChannel reports. The institutional investor purchased 4,063 shares of the software maker’s stock, valued at approximately $1,342,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Cadence Design Systems by 3.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker’s stock valued at $287,000 after buying an additional 31 shares during the last quarter. Westfuller Advisors LLC raised its stake in Cadence Design Systems by 8.2% in the 1st quarter. Westfuller Advisors LLC now owns 408 shares of the software maker’s stock worth $113,000 after acquiring an additional 31 shares during the last quarter. Cornerstone Planning Group LLC raised its stake in Cadence Design Systems by 32.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker’s stock worth $37,000 after acquiring an additional 32 shares during the last quarter. KCM Investment Advisors LLC raised its stake in Cadence Design Systems by 0.4% in the 1st quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker’s stock worth $2,227,000 after acquiring an additional 32 shares during the last quarter. Finally, Fulton Bank N.A. lifted its position in Cadence Design Systems by 2.6% during the 2nd quarter. Fulton Bank N.A. now owns 1,296 shares of the software maker’s stock worth $486,000 after acquiring an additional 33 shares during the period. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CDNS has been the topic of several research analyst reports. Bank of America boosted their price target on Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. The Goldman Sachs Group boosted their target price on shares of Cadence Design Systems from $410.00 to $470.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Oppenheimer reiterated a “market perform” rating and set a $300.00 price target (up from $275.00) on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Rothschild & Co Redburn lifted their target price on shares of Cadence Design Systems from $385.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Piper Sandler boosted their price target 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. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $404.14.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $285.51, for a total value of $51,391.80. Following the sale, the director owned 7,824 shares of the company’s stock, valued at $2,233,830.24. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $324.13, for a total transaction of $648,260.00. Following the completion of the transaction, the vice president owned 119,612 shares of the company’s stock, valued at $38,769,837.56. This represents a 1.64% 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 8,960 shares of company stock valued at $2,834,139 in the last 90 days. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Trading Down 1.5%

Shares of CDNS stock opened at $319.51 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. The firm has a market cap of $87.99 billion, a PE ratio of 63.52, a price-to-earnings-growth ratio of 3.42 and a beta of 1.13. The company has a 50-day moving average of $318.85 and a two-hundred day moving average of $338.84. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $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. On average, analysts predict that Cadence Design Systems, Inc. will post 6.41 EPS for the current year.

About Cadence Design Systems

Cadence Design Systems, Inc develops computational software, hardware, and semiconductor intellectual property used to design and verify electronic systems and integrated circuits. Its electronic design automation (EDA) solutions support chip development across areas such as digital and custom IC design, functional verification, emulation, prototyping, and system analysis.

The company also provides semiconductor IP, including processor cores, interconnect technologies, memory interfaces, and other building blocks that help customers develop complex chips.