Lmcg Investments LLC Takes $3.02 Million Position in Cadence Design Systems, Inc. $CDNS

Lmcg Investments LLC purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,871 shares of the software maker’s stock, valued at approximately $3,021,000.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock valued at $456,000 after acquiring an additional 676 shares during the period. Integrated Wealth Concepts LLC grew its position in shares of Cadence Design Systems by 3.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock valued at $560,000 after purchasing an additional 80 shares in the last quarter. Thompson Davis & CO. Inc. bought a new stake in shares of Cadence Design Systems during the 2nd quarter valued at $205,000. NewEdge Advisors LLC increased its position in shares of Cadence Design Systems by 39.3% during the second quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock valued at $10,720,000 after buying an additional 9,807 shares during the period. Finally, Glenview Trust co purchased a new stake in shares of Cadence Design Systems in the second quarter worth about $226,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Stock Up 0.8%

Shares of NASDAQ CDNS opened at $374.06 on Thursday. The stock has a market capitalization of $103.17 billion, a P/E ratio of 87.19, a PEG ratio of 4.39 and a beta of 1.15. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The firm’s 50 day simple moving average is $372.53 and its two-hundred day simple moving average is $326.04. 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 (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping 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 firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the business posted $1.57 EPS. The business’s quarterly 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. As a group, analysts expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cadence Design Systems news, CEO Anirudh Devgan sold 25,005 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total value of $10,377,075.00. Following the completion of the sale, the chief executive officer directly owned 253,519 shares of the company’s stock, valued at $105,210,385. The trade was a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 7,081 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the sale, the vice president owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. The trade was a 18.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 178,557 shares of company stock valued at $66,925,452 over the last three months. 0.49% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on CDNS. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, April 28th. Piper Sandler raised their price objective on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a report on Wednesday, May 27th. Robert W. Baird increased their target price on Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Finally, Wells Fargo & Company raised their price target on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $386.59.

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.