Cadence Design Systems, Inc. $CDNS Shares Sold by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC trimmed its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 75.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,311 shares of the software maker’s stock after selling 10,367 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Cadence Design Systems were worth $1,243,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Pinnacle Wealth Management Advisory Group LLC boosted its holdings 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 acquiring an additional 31 shares in the last quarter. Westfuller Advisors LLC lifted 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 purchasing an additional 31 shares during the period. Spirepoint Private Client LLC lifted its position in Cadence Design Systems by 4.6% in the fourth quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker’s stock worth $226,000 after purchasing an additional 32 shares during the period. Cornerstone Planning Group LLC boosted its stake in 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 purchasing an additional 32 shares in the last quarter. Finally, KCM Investment Advisors LLC boosted its stake in Cadence Design Systems by 0.4% during the 1st quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker’s stock valued at $2,227,000 after purchasing an additional 32 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 7,081 shares of the business’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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $49,495,126. The trade was a 1.56% 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 sold a total of 140,557 shares of company stock valued at $54,631,737 over the last 90 days. 0.49% of the stock is owned by insiders.

Cadence Design Systems Trading Up 0.2%

Cadence Design Systems stock opened at $339.24 on Friday. The firm has a market cap of $93.42 billion, a price-to-earnings ratio of 67.44, a price-to-earnings-growth ratio of 3.64 and a beta of 1.15. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The firm’s 50 day moving average price is $368.63 and its two-hundred day moving average price is $330.66. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The company’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 EPS. 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. On average, research analysts predict that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CDNS. KeyCorp reissued an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Rosenblatt Securities raised their target price on Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a report on Wednesday, May 27th. Morgan Stanley reiterated an “overweight” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Finally, Bank of America upped their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Thirteen 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 currently has an average rating of “Moderate Buy” and an average price target of $405.69.

About Cadence Design Systems

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.