28,827 Shares in Cadence Design Systems, Inc. $CDNS Bought by Sax Wealth Advisors LLC

Key Points

• Sax Wealth Advisors LLC acquired 28,827 shares of Cadence Design Systems in the third quarter, valued at approximately $9.5 million. Institutional investors collectively own 84.85% of the company.
• Analysts maintain a favorable outlook, with one Strong Buy, 18 Buy, and three Hold ratings. The stock has a consensus rating of Moderate Buy and an average price target of $404.14.
• Cadence reported quarterly EPS of $2.11, exceeding estimates of $2.05, while revenue rose 24.2% year over year to $1.58 billion. Shares recently traded at $337.66, down $10.76 during the session.

Sax Wealth Advisors LLC acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 28,827 shares of the software maker's stock, valued at approximately $9,518,000.

Several other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC boosted its position in Cadence Design Systems by 933.3% during the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker's stock worth $26,000 after acquiring an additional 84 shares during the period. Brown Lisle Cummings Inc. increased its position in shares of Cadence Design Systems by 860.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker's stock valued at $27,000 after purchasing an additional 86 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in Cadence Design Systems during the fourth quarter worth about $28,000. Avalon Trust Co acquired a new position in shares of Cadence Design Systems in the 2nd quarter worth approximately $30,000. Finally, Burkett Financial Services LLC bought a new stake in Cadence Design Systems during the third quarter worth approximately $30,000. Institutional investors own 84.85% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CDNS. Bank of America upped their target price on Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. KeyCorp restated an "overweight" rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Morgan Stanley reissued an "overweight" rating and issued a $400.00 price target (up from $370.00) on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $420.00 target price (up from $400.00) on shares of Cadence Design Systems in a research note on Wednesday, October 7th. Finally, Benchmark reiterated a "buy" rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $404.14.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS traded down $10.76 during trading hours on Tuesday, hitting $337.66. 748,269 shares of the stock were exchanged, compared to its average volume of 2,436,325. The firm has a market capitalization of $92.99 billion, a P/E ratio of 67.09, a P/E/G ratio of 3.78 and a beta of 1.13. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. The company's 50 day moving average is $319.81 and its 200 day moving average is $337.89.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company posted $1.65 earnings per share. The firm's revenue for the quarter was up 24.2% on a year-over-year basis. 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 expect that Cadence Design Systems, Inc. will post 6.41 EPS for the current year.

Insider Transactions at Cadence Design Systems

In other news, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $277.12, for a total transaction of $554,240.00. Following the sale, the vice president directly owned 121,793 shares in the company, valued at approximately $33,751,276.16. The trade was a 1.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $350.07, for a total value of $437,587.50. Following the completion of the transaction, the director directly owned 39,544 shares of the company's stock, valued at approximately $13,843,168.08. The trade was a 3.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 6,960 shares of company stock valued at $2,185,879. Company insiders own 0.49% of the company's stock.

About Cadence Design Systems

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.

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