Sei Investments Co. Sells 284,958 Shares of Cadence Design Systems, Inc. $CDNS

Sei Investments Co. trimmed its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 51.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 267,420 shares of the software maker’s stock after selling 284,958 shares during the quarter. Sei Investments Co. owned about 0.10% of Cadence Design Systems worth $74,311,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pinnacle Wealth Management Advisory Group LLC grew its holdings in Cadence Design Systems by 3.1% during the 1st 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. Westfuller Advisors LLC raised its holdings in shares of Cadence Design Systems by 8.2% during the 1st quarter. Westfuller Advisors LLC now owns 408 shares of the software maker’s stock worth $113,000 after acquiring an additional 31 shares in the last quarter. Spirepoint Private Client LLC boosted its position in shares of Cadence Design Systems by 4.6% during the 4th quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker’s stock valued at $226,000 after acquiring an additional 32 shares during the last quarter. Cornerstone Planning Group LLC boosted its position in shares of Cadence Design Systems by 32.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker’s stock valued at $37,000 after acquiring an additional 32 shares during the last quarter. Finally, Townsquare Capital LLC grew its holdings in shares of Cadence Design Systems by 3.6% in the fourth quarter. Townsquare Capital LLC now owns 977 shares of the software maker’s stock valued at $305,000 after purchasing an additional 34 shares in the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CDNS has been the topic of several research reports. Wells Fargo & Company boosted their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Stifel Nicolaus increased their price objective on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Piper Sandler lifted their price objective on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Robert W. Baird boosted their target price on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Cadence Design Systems Trading Down 1.3%

CDNS opened at $326.24 on Friday. The stock has a market cap of $89.98 billion, a price-to-earnings ratio of 76.05, a P/E/G ratio of 3.91 and a beta of 1.15. The stock’s 50 day moving average price is $373.92 and its 200-day moving average price is $329.27. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business posted $1.57 earnings per share. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. 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. On average, equities analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Insiders Place Their Bets

In other news, Director James D. Plummer sold 1,511 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $381.34, for a total value of $576,204.74. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 7,081 shares of the company’s 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 completion of the transaction, the vice president owned 32,181 shares in the company, valued at approximately $12,676,417.71. The trade was a 18.04% 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. Over the last 90 days, insiders have sold 157,057 shares of company stock valued at $60,272,277. Insiders own 0.49% of the company’s stock.

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.