21,775 Cadence Design Systems, Inc. $CDNS Shares Acquired by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors increased its Cadence Design Systems stake by 279.1% in the third quarter, acquiring 21,775 shares and bringing its total holdings to 29,576 shares valued at approximately $9.8 million.
• Institutional investors own 84.85% of CDNS, while insiders sold 6,960 shares worth about $2.2 million over the past 90 days.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $404.14. Cadence recently exceeded quarterly earnings expectations and reported 24.2% year-over-year revenue growth.

Farther Finance Advisors LLC boosted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 279.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,576 shares of the software maker's stock after purchasing an additional 21,775 shares during the quarter. Farther Finance Advisors LLC's holdings in Cadence Design Systems were worth $9,766,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. J. Stern & Co. LLP lifted its position in Cadence Design Systems by 10,159.3% in the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker's stock valued at $923,129,000 after purchasing an additional 2,924,470 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Cadence Design Systems in the second quarter valued at approximately $702,615,000. Jupiter Topco LLC bought a new stake in shares of Cadence Design Systems during the second quarter valued at approximately $688,746,000. Bank of New York Mellon Corp bought a new stake in shares of Cadence Design Systems during the second quarter valued at approximately $607,350,000. Finally, Deutsche Bank AG acquired a new position in shares of Cadence Design Systems during the second quarter worth approximately $532,338,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $285.51, for a total value of $51,391.80. Following the sale, the director directly owned 7,824 shares of the company's stock, valued at approximately $2,233,830.24. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $350.07, for a total value of $437,587.50. Following the completion of the sale, the director directly owned 39,544 shares in the company, valued at $13,843,168.08. This trade represents a 3.06% 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 6,960 shares of company stock worth $2,185,879 over the last ninety days. 0.49% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. KeyCorp reaffirmed an "overweight" rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Needham & Company LLC restated a "buy" rating and issued a $400.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 28th. Benchmark reaffirmed a "buy" rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Citigroup lifted their target price on Cadence Design Systems from $400.00 to $420.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Finally, Wall Street Zen cut shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Sunday, October 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $404.14.

Cadence Design Systems Stock Performance

CDNS stock opened at $352.84 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. The stock has a market cap of $97.17 billion, a P/E ratio of 70.15, a P/E/G ratio of 3.73 and a beta of 1.13. The firm has a 50 day simple moving average of $319.56 and a 200 day simple moving average of $337.12. 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 - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.06. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the business posted $1.65 earnings per share. Cadence Design Systems's revenue for the quarter was up 24.2% compared to the same quarter last year. 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. Research analysts anticipate that Cadence Design Systems, Inc. will post 6.41 earnings per share for the current fiscal year.

Cadence Design Systems Profile

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware, and semiconductor intellectual property. Its products help engineers design, verify, analyze, and manufacture complex semiconductor chips, printed circuit boards, and electronic systems.

The company's offerings include digital and custom/analog integrated-circuit design tools, functional verification and emulation platforms, semiconductor intellectual property, and system analysis solutions.

Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.