Andrew Hill Investment Advisors Inc. Purchases New Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• Andrew Hill Investment Advisors acquired 7,994 Cadence Design Systems shares worth approximately $2.64 million, making CDNS 2.1% of its portfolio. Institutional investors collectively own 84.85% of the company.
• Cadence reported adjusted earnings of $2.11 per share, beating estimates by $0.06, while revenue rose 24.2% year over year to $1.58 billion. Shares opened at $316.49, up 2.2%.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $404.14, although insiders sold 8,960 shares worth $2.83 million over the past three months.

Andrew Hill Investment Advisors Inc. acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 7,994 shares of the software maker's stock, valued at approximately $2,639,000. Cadence Design Systems comprises approximately 2.1% of Andrew Hill Investment Advisors Inc.'s investment portfolio, making the stock its 16th largest holding.

A number of other institutional investors have also made changes to their positions in CDNS. Boomfish Wealth Group LLC increased its stake in Cadence Design Systems by 5.6% in the 3rd quarter. Boomfish Wealth Group LLC now owns 2,024 shares of the software maker's stock valued at $668,000 after buying an additional 107 shares during the last quarter. MBL Wealth LLC acquired a new stake in shares of Cadence Design Systems in the third quarter valued at about $452,000. Brookstone Capital Management increased its position in shares of Cadence Design Systems by 14.6% in the third quarter. Brookstone Capital Management now owns 2,445 shares of the software maker's stock valued at $807,000 after acquiring an additional 312 shares during the last quarter. NBT Bank N.A. bought a new stake in Cadence Design Systems during the third quarter worth about $358,000. Finally, Root Financial Partners LLC acquired a new position in Cadence Design Systems during the third quarter valued at approximately $97,000. Institutional investors own 84.85% of the company's stock.

Cadence Design Systems Stock Up 2.2%

Shares of NASDAQ:CDNS opened at $316.49 on Friday. 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 cap of $87.16 billion, a P/E ratio of 50.27, a PEG ratio of 3.31 and a beta of 1.13. 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 business's 50 day simple moving average is $318.19 and its two-hundred day simple moving average is $340.32.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating 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 firm had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.58 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The company's quarterly revenue 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. As a group, research analysts forecast that Cadence Design Systems, Inc. will post 6.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CDNS has been the subject of a number of analyst reports. Piper Sandler raised their price target on Cadence Design Systems from $325.00 to $349.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. Weiss Ratings upgraded Cadence Design Systems from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday. Morgan Stanley reiterated an "overweight" rating and issued a $400.00 price target (up from $370.00) on shares of Cadence Design Systems in a research note on Wednesday, July 29th. KeyCorp restated an "overweight" rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Finally, Wall Street Zen downgraded Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $404.14.

Insiders Place Their Bets

In related news, VP Paul Cunningham sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $324.13, for a total value of $648,260.00. Following the transaction, the vice president directly owned 119,612 shares of the company's stock, valued at approximately $38,769,837.56. This represents a 1.64% decrease in their position. The transaction was disclosed in a legal filing 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 company's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $350.07, for a total transaction of $437,587.50. Following the transaction, the director owned 39,544 shares in the company, valued at $13,843,168.08. This represents a 3.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 8,960 shares of company stock valued at $2,834,139 over the last three months. Company insiders own 0.49% of the company's stock.

About Cadence Design Systems

Cadence Design Systems, Inc develops computational software, hardware, and semiconductor intellectual property used to design and verify electronic systems and integrated circuits. Its electronic design automation (EDA) solutions support chip development across areas such as digital and custom IC design, functional verification, emulation, prototyping, and system analysis.

The company also provides semiconductor IP, including processor cores, interconnect technologies, memory interfaces, and other building blocks that help customers develop complex chips.

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