Cadence Design Systems, Inc. $CDNS Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC trimmed its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 21.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,047 shares of the software maker’s stock after selling 4,186 shares during the quarter. HB Wealth Management LLC’s holdings in Cadence Design Systems were worth $4,181,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC increased its position in shares of Cadence Design Systems by 3.1% in 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 buying an additional 31 shares in the last quarter. Spirepoint Private Client LLC boosted its position in shares of Cadence Design Systems by 4.6% in the 4th quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker’s stock worth $226,000 after buying an additional 32 shares in the last quarter. Townsquare Capital LLC boosted its position in shares of Cadence Design Systems by 3.6% in the 4th quarter. Townsquare Capital LLC now owns 977 shares of the software maker’s stock worth $305,000 after buying an additional 34 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in Cadence Design Systems by 3.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,079 shares of the software maker’s stock valued at $379,000 after acquiring an additional 35 shares during the last quarter. Finally, Global Assets Advisory LLC grew its stake in Cadence Design Systems by 2.1% in the 4th quarter. Global Assets Advisory LLC now owns 1,726 shares of the software maker’s stock valued at $540,000 after acquiring an additional 35 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Activity

In other Cadence Design Systems news, VP Paul Scannell sold 7,081 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $393.91, for a total value of $2,789,276.71. Following the completion of the transaction, the vice president directly owned 32,181 shares in the company, valued at approximately $12,676,417.71. The trade was a 18.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the 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 transaction, the vice president directly owned 126,586 shares in the company, valued at approximately $49,495,126. This represents a 1.56% 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 have sold 178,557 shares of company stock valued at $66,925,452 in the last 90 days. Insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CDNS. KeyCorp raised their target price on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a report on Wednesday, May 27th. 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. Robert W. Baird raised their price objective on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Finally, Piper Sandler lifted 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. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus price target of $386.59.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $373.14 on Monday. The company has a market capitalization of $102.92 billion, a price-to-earnings ratio of 86.98, a PEG ratio of 4.42 and a beta of 1.15. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $369.80 and a 200 day moving average price of $324.82. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the company earned $1.57 EPS. 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. Research analysts forecast that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Cadence Design Systems 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.