Perigon Wealth Management LLC Makes New $990,000 Investment in Cadence Design Systems, Inc. $CDNS

Perigon Wealth Management LLC bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,638 shares of the software maker’s stock, valued at approximately $990,000.

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

Insider Transactions at Cadence Design Systems

In related news, Director James D. Plummer sold 1,511 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total value of $576,204.74. Following the transaction, the director directly owned 23,264 shares in the company, valued at $8,871,493.76. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the transaction, the director directly owned 8,004 shares in the company, valued at approximately $3,101,149.80. This trade represents a 2.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 139,486 shares of company stock worth $54,262,177 over the last ninety days. 0.49% of the stock is currently owned by insiders.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock opened at $316.52 on Wednesday. The firm has a market cap of $87.17 billion, a P/E ratio of 62.93, a price-to-earnings-growth ratio of 3.49 and a beta of 1.15. The firm’s 50-day simple moving average is $357.82 and its 200-day simple moving average is $331.13. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month 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.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The business’s revenue was up 24.2% compared to the same quarter last year. 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. As a group, research analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CDNS shares. Citigroup upped their target price on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Benchmark reissued a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Morgan Stanley restated an “overweight” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Wells Fargo & Company raised their target price on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $405.69.

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.