NewEdge Wealth LLC Buys 2,386 Shares of Cadence Design Systems, Inc. $CDNS

NewEdge Wealth LLC grew its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 70.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,777 shares of the software maker’s stock after buying an additional 2,386 shares during the period. NewEdge Wealth LLC’s holdings in Cadence Design Systems were worth $1,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Y.D. More Investments Ltd bought a new stake in shares of Cadence Design Systems during the third quarter valued at approximately $26,000. Caitlin John LLC bought a new stake in shares of Cadence Design Systems during the third quarter valued at approximately $29,000. Lodestone Wealth Management LLC bought a new stake in shares of Cadence Design Systems during the fourth quarter valued at approximately $30,000. Imprint Wealth LLC bought a new stake in Cadence Design Systems in the third quarter worth $31,000. Finally, Strategic Wealth Investment Group LLC bought a new stake in Cadence Design Systems in the second quarter worth $32,000. Institutional investors own 84.85% of the company’s stock.

Insider Activity

In other Cadence Design Systems news, VP Paul Scannell sold 10,500 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $339.00, for a total value of $3,559,500.00. Following the completion of the transaction, the vice president directly owned 33,946 shares in the company, valued at approximately $11,507,694. The trade was a 23.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $295.03, for a total value of $53,105.40. Following the transaction, the director directly owned 7,470 shares in the company, valued at $2,203,874.10. This represents a 2.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 40,180 shares of company stock valued at $12,924,790. Company insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Down 1.0%

Shares of CDNS opened at $354.55 on Thursday. The firm has a market capitalization of $97.79 billion, a P/E ratio of 82.65, a P/E/G ratio of 4.24 and a beta of 1.13. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $376.45. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The firm has a fifty day moving average price of $305.16 and a 200-day moving average price of $310.46.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The firm’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.57 earnings per share. 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. Equities research analysts expect that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CDNS shares. Rosenblatt Securities restated a “buy” rating and issued a $360.00 price target on shares of Cadence Design Systems in a research report on Friday, April 24th. KeyCorp boosted their price target on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Piper Sandler boosted their price target on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Morgan Stanley reduced their price target on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Finally, Citigroup boosted their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $380.59.

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.