Entropy Technologies LP Has $7.35 Million Stake in Cadence Design Systems, Inc. $CDNS

Entropy Technologies LP raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 874.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 26,461 shares of the software maker’s stock after buying an additional 23,746 shares during the quarter. Entropy Technologies LP’s holdings in Cadence Design Systems were worth $7,353,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after acquiring an additional 676 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Cadence Design Systems by 3.8% during 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 Cadence Design Systems during the second quarter worth $205,000. NewEdge Advisors LLC boosted its holdings in shares of Cadence Design Systems by 39.3% in the 2nd quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock valued at $10,720,000 after purchasing an additional 9,807 shares in the last quarter. Finally, Glenview Trust co acquired a new stake in shares of Cadence Design Systems in the 2nd quarter valued at $226,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CDNS has been the subject of a number of research analyst reports. Robert W. Baird boosted their price target on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. KeyCorp raised their price objective 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 lifted 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. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a research note on Thursday, July 2nd. Finally, Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Activity

In related news, VP Paul Scannell sold 7,081 shares of Cadence Design Systems stock in a transaction that occurred on 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 directly owned 32,181 shares in the company, valued at $12,676,417.71. This trade represents a 18.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the sale, the chief executive officer directly owned 253,519 shares in the company, valued at $105,210,385. The trade was a 8.98% 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. In the last ninety days, insiders sold 157,057 shares of company stock valued at $60,272,277. 0.49% of the stock is currently owned by company insiders.

Cadence Design Systems Stock Down 1.3%

Shares of CDNS opened at $326.24 on Friday. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The stock has a market capitalization of $89.98 billion, a price-to-earnings ratio of 76.05, a PEG ratio of 3.91 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. The stock has a fifty day moving average of $373.92 and a 200-day moving average of $329.27.

Cadence Design Systems (NASDAQ:CDNS) last issued 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 return on equity of 28.44% and a net margin of 21.18%.The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company posted $1.57 EPS. Cadence Design Systems’s quarterly revenue was up 18.6% compared to the same quarter last year. 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, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share 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.