Diversify Wealth Management LLC Acquires New Stake in Cadence Design Systems, Inc. $CDNS

Diversify Wealth Management LLC purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the first quarter, HoldingsChannel reports. The fund purchased 7,935 shares of the software maker’s stock, valued at approximately $2,205,000.

A number of other institutional investors have also modified their holdings of CDNS. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Cadence Design Systems in the 4th quarter worth $28,000. Imprint Wealth LLC acquired a new position in Cadence Design Systems in the third quarter valued at $31,000. Whipplewood Advisors LLC grew its position in Cadence Design Systems by 933.3% during the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares during the period. Swiss RE Ltd. purchased a new stake in Cadence Design Systems during the fourth quarter valued at about $29,000. Finally, Brown Lisle Cummings Inc. increased its stake in Cadence Design Systems by 860.0% during the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $391.00, for a total transaction 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. The trade was a 1.56% decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction 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 transaction, the chief executive officer owned 253,519 shares of the company’s stock, valued at $105,210,385. This trade represents a 8.98% 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. In the last quarter, insiders have sold 178,557 shares of company stock worth $66,925,452. 0.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CDNS shares. Robert W. Baird lifted their price target on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Stifel Nicolaus increased their price objective on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Rosenblatt Securities reissued a “buy” rating and issued a $360.00 target price on shares of Cadence Design Systems in a research note on Friday, April 24th. Piper Sandler lifted their target price on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $387.00.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $377.92 on Tuesday. The stock has a market cap of $104.24 billion, a P/E ratio of 88.09, a price-to-earnings-growth ratio of 4.55 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 stock has a 50 day moving average of $375.79 and a 200-day moving average of $327.44. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company earned $1.57 earnings per share. Cadence Design Systems’s quarterly 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. On average, analysts expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

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.