Beacon Pointe Advisors LLC Makes New Investment in Cadence Design Systems, Inc. $CDNS

Key Points

• Beacon Pointe Advisors purchased 3,236 shares of Cadence Design Systems worth approximately $1.215 million during the second quarter. Institutional investors own 84.85% of CDNS shares.
• Analyst sentiment remains positive, with 13 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $405.69.
• Cadence exceeded quarterly earnings expectations, reporting $2.11 in adjusted EPS versus estimates of $2.05, while revenue rose 24.2% year over year to $1.58 billion.

Beacon Pointe Advisors LLC purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,236 shares of the software maker's stock, valued at approximately $1,215,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. George Kaiser Family Foundation acquired a new stake in Cadence Design Systems in the second quarter worth approximately $725,000. MUFG Securities EMEA plc boosted its stake in Cadence Design Systems by 113.9% during the 4th quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker's stock valued at $3,488,000 after purchasing an additional 5,943 shares in the last quarter. Sun Financial Inc acquired a new position in shares of Cadence Design Systems during the 4th quarter valued at $1,225,000. Leonteq Securities AG acquired a new position in shares of Cadence Design Systems during the 4th quarter valued at $1,105,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Cadence Design Systems by 1.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 369,717 shares of the software maker's stock worth $115,566,000 after buying an additional 3,562 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective 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 reaffirmed an "overweight" rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Piper Sandler boosted their price target on shares of Cadence Design Systems from $325.00 to $349.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 28th. Weiss Ratings raised shares of Cadence Design Systems from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 30th. Finally, Bank of America raised their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $405.69.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 280 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $339.00, for a total transaction of $94,920.00. Following the transaction, the vice president directly owned 31,720 shares in the company, valued at approximately $10,753,080. The trade was a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of the business's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total transaction of $576,204.74. Following the sale, the director directly owned 23,264 shares in the company, valued at approximately $8,871,493.76. This trade represents a 6.10% decrease in their ownership of the stock. 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 ninety days, insiders have sold 32,226 shares of company stock worth $12,947,681. 0.49% of the stock is currently owned by insiders.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $340.39 on Monday. The business's 50-day moving average price is $348.17 and its 200 day moving average price is $333.56. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $93.74 billion, a P/E ratio of 67.67, a P/E/G ratio of 3.65 and a beta of 1.15. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69.

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, 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 company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the firm earned $1.65 earnings per share. The business'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. Analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

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.

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