Focus Partners Advisor Solutions LLC Invests $882,000 in Cadence Design Systems, Inc. $CDNS

Focus Partners Advisor Solutions LLC purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,350 shares of the software maker’s stock, valued at approximately $882,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Pinnacle Wealth Management Advisory Group LLC boosted its position 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 period. Westfuller Advisors LLC raised its holdings in shares of Cadence Design Systems by 8.2% in the first quarter. Westfuller Advisors LLC now owns 408 shares of the software maker’s stock worth $113,000 after buying an additional 31 shares during the period. Cornerstone Planning Group LLC lifted its stake in shares of Cadence Design Systems by 32.0% during 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 lifted its stake in shares of Cadence Design Systems by 0.4% during 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. boosted its holdings 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 valued at $486,000 after acquiring an additional 33 shares during the period. 84.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Anirudh Devgan sold 51,887 shares of Cadence Design Systems stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $370.00, for a total value of $19,198,190.00. Following the transaction, the chief executive officer directly owned 303,525 shares in the company, valued at approximately $112,304,250. This trade represents a 14.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the sale, the director owned 23,264 shares of the company’s stock, valued at $8,871,493.76. This trade represents a 6.10% 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. In the last three months, insiders sold 139,486 shares of company stock worth $54,262,177. Insiders own 0.49% of the company’s stock.

Wall Street Analyst Weigh In

CDNS has been the subject of several research analyst reports. Piper Sandler lifted their target price 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. KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 price target on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Weiss Ratings raised Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Finally, Citigroup raised their price objective on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $405.69.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $324.82 on Monday. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. The firm has a market cap of $89.45 billion, a P/E ratio of 64.58, a P/E/G ratio of 3.49 and a beta of 1.15. The firm has a 50-day simple moving average of $360.72 and a 200-day simple moving average of $331.12.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data 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 firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The company’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period last year, the firm 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. Equities analysts anticipate that Cadence Design Systems, Inc. will post 6.4 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.