Cardinal Point Capital Management ULC Sells 2,585 Shares of Cadence Design Systems, Inc. $CDNS

Cardinal Point Capital Management ULC cut its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 46.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,965 shares of the software maker’s stock after selling 2,585 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Cadence Design Systems were worth $824,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brown Lisle Cummings Inc. raised its holdings in Cadence Design Systems by 860.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares during the period. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Cadence Design Systems during the fourth quarter worth approximately $28,000. Caitlin John LLC bought a new stake in shares of Cadence Design Systems during the third quarter worth approximately $29,000. Swiss RE Ltd. bought a new position in shares of Cadence Design Systems during the fourth quarter worth approximately $29,000. Finally, Lodestone Wealth Management LLC acquired a new stake in Cadence Design Systems during the 4th quarter worth approximately $30,000. Institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CDNS. Piper Sandler increased their price objective on Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Robert W. Baird raised their price target on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Rosenblatt Securities reissued a “buy” rating and issued a $360.00 price objective on shares of Cadence Design Systems in a report on Friday, April 24th. Stifel Nicolaus raised their target price on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Fourteen research 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 has a consensus rating of “Moderate Buy” and an average price target of $386.59.

Cadence Design Systems Trading Down 1.8%

CDNS opened at $372.40 on Thursday. The stock has a market capitalization of $102.72 billion, a price-to-earnings ratio of 86.81, a P/E/G ratio of 4.49 and a beta of 1.15. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company has a 50-day simple moving average of $361.25 and a 200 day simple moving average of $322.76.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the firm earned $1.57 EPS. The business’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. Analysts predict 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, VP Paul Cunningham sold 2,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $391.00, for a total value of $782,000.00. Following the sale, the vice president owned 126,586 shares of the company’s stock, valued at approximately $49,495,126. This trade represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of the firm’s 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 completion of the sale, the director directly owned 23,264 shares in the company, valued at approximately $8,871,493.76. This represents a 6.10% 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 sold a total of 179,557 shares of company stock valued at $67,205,642 over the last three months. 0.49% of the stock is owned by corporate insiders.

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.