Cadence Design Systems, Inc. $CDNS Stake Lessened by Sigma Planning Corp

Sigma Planning Corp cut its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 64.7% during the 1st quarter, HoldingsChannel reports. The fund owned 1,701 shares of the software maker’s stock after selling 3,117 shares during the period. Sigma Planning Corp’s holdings in Cadence Design Systems were worth $473,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CDNS. Vanguard Group Inc. raised its stake in shares of Cadence Design Systems by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock valued at $8,511,888,000 after purchasing an additional 307,753 shares in the last quarter. State Street Corp grew its stake in Cadence Design Systems by 1.1% in the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock worth $3,939,561,000 after purchasing an additional 135,206 shares in the last quarter. Geode Capital Management LLC grew its stake in Cadence Design Systems by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock worth $2,378,707,000 after purchasing an additional 92,152 shares in the last quarter. Norges Bank bought a new stake in Cadence Design Systems in the fourth quarter valued at about $1,352,922,000. Finally, Van ECK Associates Corp increased its holdings in Cadence Design Systems by 11.9% in the fourth quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock valued at $1,104,714,000 after buying an additional 376,654 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Insider Activity at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total transaction of $69,741.00. Following the completion of the transaction, the director directly owned 8,004 shares in the company, valued at approximately $3,101,149.80. The trade was a 2.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total value of $10,377,075.00. Following the completion of the transaction, the chief executive officer directly owned 253,519 shares of the company’s stock, valued at $105,210,385. This trade represents a 8.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 157,057 shares of company stock valued at $60,272,277. Company insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Down 0.1%

CDNS stock opened at $329.93 on Tuesday. 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 fifty-two week low of $262.75 and a fifty-two week high of $416.69. The firm’s 50-day simple moving average is $375.40 and its 200 day simple moving average is $328.75. The stock has a market cap of $91.00 billion, a PE ratio of 76.91, a price-to-earnings-growth ratio of 3.91 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the business posted $1.57 EPS. Cadence Design Systems’s revenue 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. As a group, sell-side analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on CDNS shares. Stifel Nicolaus increased their target price on Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a report on Wednesday, May 27th. Citigroup upped their price target on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Rosenblatt Securities lifted their price objective on shares of Cadence Design Systems from $375.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, Benchmark initiated coverage on shares of Cadence Design Systems in a research note on Wednesday, July 15th. They set a “buy” rating and a $450.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and an average price target of $393.65.

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.