Sanctuary Advisors LLC Takes $6.61 Million Position in Cadence Design Systems, Inc. $CDNS

Sanctuary Advisors LLC purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 17,616 shares of the software maker’s stock, valued at approximately $6,612,000.

Other hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC increased its stake in Cadence Design Systems by 933.3% in the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after buying an additional 84 shares during the period. Brown Lisle Cummings Inc. lifted its stake in shares of Cadence Design Systems by 860.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cadence Design Systems in the fourth quarter valued at about $28,000. Swiss RE Ltd. acquired a new position in shares of Cadence Design Systems during the fourth quarter worth about $29,000. Finally, Avalon Trust Co acquired a new position in shares of Cadence Design Systems during the second quarter worth about $30,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 2,000 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $323.32, for a total transaction of $646,640.00. Following the sale, the vice president owned 124,586 shares in the company, valued at approximately $40,281,145.52. This represents a 1.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of the stock in a transaction 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 sale, the director owned 23,264 shares in the company, valued at approximately $8,871,493.76. This trade represents a 6.10% 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. Insiders have sold 89,599 shares of company stock worth $35,710,627 in the last quarter. Insiders own 0.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CDNS. KeyCorp reiterated an “overweight” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Wells Fargo & Company lifted their price target on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Bank of America upped their price objective on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a report on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.69.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $315.92 on Tuesday. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $352.12 and a two-hundred day moving average price of $331.88. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company has a market capitalization of $87.00 billion, a P/E ratio of 62.81, a price-to-earnings-growth ratio of 3.42 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.06. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 earnings per share. 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 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.