WealthShield Partners LLC Purchases Shares of 7,198 Cadence Design Systems, Inc. $CDNS

WealthShield Partners LLC acquired a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 7,198 shares of the software maker’s stock, valued at approximately $2,702,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Pinnacle Wealth Management Advisory Group LLC lifted its stake in Cadence Design Systems by 3.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker’s stock valued at $287,000 after purchasing an additional 31 shares during the last quarter. Westfuller Advisors LLC grew its position 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 grew its position 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 increased its holdings in shares of Cadence Design Systems by 0.4% in the first quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker’s stock valued at $2,227,000 after buying an additional 32 shares in the last quarter. Finally, Fulton Bank N.A. increased its holdings in shares of 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 buying an additional 33 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 7,081 shares of Cadence Design Systems stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the transaction, the vice president owned 32,181 shares of the company’s stock, valued at $12,676,417.71. The trade was a 18.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 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 owned 8,004 shares in the company, valued at $3,101,149.80. This represents a 2.20% decrease in their position. 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. In the last 90 days, insiders sold 89,599 shares of company stock worth $35,710,627. 0.49% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Wells Fargo & Company boosted their target price on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Bank of America increased their price target on Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Piper Sandler boosted their price objective on Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.69.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $319.02 on Friday. The company’s fifty day moving average is $353.70 and its two-hundred day moving average is $331.25. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The company has a market cap of $87.85 billion, a P/E ratio of 63.42, a price-to-earnings-growth ratio of 3.42 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) 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 company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the company earned $1.65 earnings per share. The company’s revenue for the quarter was up 24.2% on a year-over-year basis. 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. Equities analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Cadence Design Systems Company 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.