Burling Wealth Partners LLC Buys Shares of 11,495 Cadence Design Systems, Inc. $CDNS

Key Points

• Burling Wealth Partners opened a new position in Cadence Design Systems, buying 11,495 shares valued at about $3.19 million in the first quarter.
• Several institutional investors also added to or adjusted their Cadence stakes, and institutions now own 84.85% of the company.
• Cadence reported better-than-expected quarterly results with EPS of $1.96 and revenue of $1.47 billion, while analysts remain broadly positive with a Moderate Buy rating and an average target price of $393.65.

Burling Wealth Partners LLC purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,495 shares of the software maker's stock, valued at approximately $3,194,000.

A number of other institutional investors also recently modified their holdings of the business. Pinnacle Wealth Management Advisory Group LLC grew its position in Cadence Design Systems by 3.1% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker's stock valued at $287,000 after acquiring an additional 31 shares during the last quarter. Westfuller Advisors LLC lifted its holdings in shares of Cadence Design Systems by 8.2% in the first quarter. Westfuller Advisors LLC now owns 408 shares of the software maker's stock worth $113,000 after acquiring an additional 31 shares during the last quarter. Spirepoint Private Client LLC lifted its holdings in shares of Cadence Design Systems by 4.6% in the fourth quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker's stock worth $226,000 after acquiring an additional 32 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of Cadence Design Systems by 32.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker's stock valued at $37,000 after purchasing an additional 32 shares in the last quarter. Finally, Townsquare Capital LLC boosted its stake in shares of Cadence Design Systems by 3.6% in the 4th quarter. Townsquare Capital LLC now owns 977 shares of the software maker's stock valued at $305,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Insider Activity

In other news, CFO John M. Wall sold 5,000 shares of Cadence Design Systems stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $348.71, for a total transaction of $1,743,550.00. Following the transaction, the chief financial officer owned 81,875 shares in the company, valued at approximately $28,550,631.25. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, VP Paul Cunningham sold 2,000 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $391.00, for a total transaction of $782,000.00. Following the completion of the sale, the vice president directly owned 126,586 shares in the company, valued at approximately $49,495,126. This represents a 1.56% 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. In the last three months, insiders have sold 157,057 shares of company stock valued at $60,272,277. 0.49% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a "buy" rating in a research report on Tuesday, June 9th. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Benchmark assumed coverage on shares of Cadence Design Systems in a research note on Wednesday, July 15th. They set a "buy" rating and a $450.00 target price on the stock. Citigroup upped their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Cadence Design Systems has an average rating of "Moderate Buy" and an average target price of $393.65.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $329.93 on Tuesday. The stock's 50-day moving average is $375.40 and its 200-day moving average is $328.75. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The stock has a market cap of $91.00 billion, a P/E ratio of 76.91, a price-to-earnings-growth ratio of 3.91 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business earned $1.57 EPS. The firm's quarterly revenue was up 18.6% on a year-over-year basis. 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. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Cadence Design Systems Company 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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