SG Americas Securities LLC Sells 155,373 Shares of Cadence Design Systems, Inc. $CDNS

SG Americas Securities LLC lowered its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 43.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 203,046 shares of the software maker’s stock after selling 155,373 shares during the period. SG Americas Securities LLC owned approximately 0.07% of Cadence Design Systems worth $56,420,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cadence Design Systems during the 4th quarter worth approximately $28,000. Caitlin John LLC acquired a new position in shares of Cadence Design Systems during the 3rd quarter valued at $29,000. Swiss RE Ltd. bought a new position in Cadence Design Systems during the fourth quarter worth $29,000. Lodestone Wealth Management LLC bought a new position in Cadence Design Systems during the fourth quarter worth $30,000. Finally, Imprint Wealth LLC acquired a new stake in Cadence Design Systems in the third quarter worth $31,000. 84.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, April 28th. KeyCorp raised their target price on Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Piper Sandler boosted their target price on Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company upped their price target on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $386.59.

Insider Activity

In related news, Director James D. Plummer sold 1,511 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total transaction of $576,204.74. Following the completion of the sale, the director directly owned 23,264 shares of the company’s stock, valued at approximately $8,871,493.76. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the chief executive officer owned 303,525 shares in the company, valued at $112,304,250. This trade represents a 14.60% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 179,557 shares of company stock worth $67,205,642. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $389.04 on Tuesday. The firm has a 50-day moving average of $357.30 and a 200-day moving average of $322.21. The company has a market cap of $107.31 billion, a P/E ratio of 90.69, a P/E/G ratio of 4.59 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69.

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

Cadence Design Systems Profile

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.