Westerkirk Capital Inc. Acquires 3,370 Shares of Cadence Design Systems, Inc. $CDNS

Westerkirk Capital Inc. boosted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 50.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,094 shares of the software maker’s stock after acquiring an additional 3,370 shares during the period. Westerkirk Capital Inc.’s holdings in Cadence Design Systems were worth $3,155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock valued at $456,000 after purchasing an additional 676 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Cadence Design Systems by 3.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock valued at $560,000 after purchasing an additional 80 shares in the last quarter. Thompson Davis & CO. Inc. bought a new stake in shares of Cadence Design Systems in the second quarter valued at about $205,000. NewEdge Advisors LLC lifted its holdings in shares of Cadence Design Systems by 39.3% in the second quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock valued at $10,720,000 after purchasing an additional 9,807 shares in the last quarter. Finally, Glenview Trust co bought a new stake in shares of Cadence Design Systems in the second quarter valued at about $226,000. 84.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. KeyCorp boosted their price target on Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, April 28th. Morgan Stanley cut their price target on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Finally, Stifel Nicolaus set a $395.00 price target on Cadence Design Systems in a report on Wednesday, February 18th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $384.41.

Cadence Design Systems Stock Performance

CDNS opened at $394.24 on Tuesday. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The firm has a market capitalization of $108.74 billion, a PE ratio of 91.90, a PEG ratio of 4.45 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. The business’s 50-day simple moving average is $335.44 and its 200 day simple moving average is $316.51.

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

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Scannell sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $339.00, for a total transaction of $3,559,500.00. Following the transaction, the vice president owned 33,946 shares of the company’s stock, valued at $11,507,694. The trade was a 23.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $337.49, for a total value of $337,490.00. Following the transaction, the vice president directly owned 127,586 shares in the company, valued at approximately $43,058,999.14. This trade represents a 0.78% 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 sold 176,046 shares of company stock worth $65,830,801 in the last three months. 0.49% of the stock is owned by corporate insiders.

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.