Cadence Design Systems, Inc. $CDNS Shares Acquired by Teamwork Financial Advisors LLC

Key Points

• Teamwork Financial Advisors increased its Cadence Design Systems stake by 21.2% in the third quarter, holding 37,893 shares valued at approximately $12.5 million. Institutional investors collectively own 84.85% of CDNS.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $404.14. Recent target increases included Citigroup and Robert W. Baird raising their targets to $420.
• Cadence reported quarterly EPS of $2.11, beating estimates of $2.05, while revenue rose 24.2% year over year to $1.58 billion. The stock recently traded at $325.86, below its 52-week high of $416.69.

Teamwork Financial Advisors LLC increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 21.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,893 shares of the software maker's stock after buying an additional 6,636 shares during the quarter. Teamwork Financial Advisors LLC's holdings in Cadence Design Systems were worth $12,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC boosted its stake in Cadence Design Systems by 933.3% in the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker's stock worth $26,000 after purchasing an additional 84 shares in the last quarter. Brown Lisle Cummings Inc. raised its holdings in shares of Cadence Design Systems by 860.0% in the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker's stock worth $27,000 after buying an additional 86 shares during the last quarter. Avalon Trust Co acquired a new stake in shares of Cadence Design Systems during the second quarter worth $30,000. Burkett Financial Services LLC purchased a new stake in shares of Cadence Design Systems during the third quarter valued at $30,000. Finally, Fiduciary Financial Advisors purchased a new stake in shares of Cadence Design Systems during the second quarter valued at $31,000. Institutional investors and hedge funds own 84.85% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CDNS shares. Citigroup upped their target price on Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Wall Street Zen upgraded Cadence Design Systems from a "hold" rating to a "buy" rating in a research note on Monday, October 12th. Morgan Stanley reaffirmed an "overweight" rating and set a $400.00 target price (up from $370.00) on shares of Cadence Design Systems in a report on Wednesday, July 29th. Robert W. Baird upped their target price on Cadence Design Systems from $415.00 to $420.00 and gave the company an "outperform" rating in a research report on Tuesday, July 28th. Finally, Piper Sandler increased their price target on shares of Cadence Design Systems from $325.00 to $349.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. One investment 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. According to data from MarketBeat.com, Cadence Design Systems has a consensus rating of "Moderate Buy" and a consensus target price of $404.14.

Cadence Design Systems Stock Performance

CDNS traded up $6.35 during midday trading on Monday, hitting $325.86. 1,854,555 shares of the company were exchanged, compared to its average volume of 2,444,869. The company's 50 day simple moving average is $318.85 and its 200 day simple moving average is $339.32. The firm has a market capitalization of $89.74 billion, a price-to-earnings ratio of 64.78, a price-to-earnings-growth ratio of 3.42 and a beta of 1.13. 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 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. The company'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. As a group, sell-side analysts predict that Cadence Design Systems, Inc. will post 6.41 earnings per share for the current year.

Insider Buying and Selling

In other Cadence Design Systems news, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the company's 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 sale, the director owned 39,544 shares in the company, valued at approximately $13,843,168.08. This represents a 3.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 280 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total transaction of $94,920.00. Following the sale, the vice president directly owned 31,720 shares in the company, valued at $10,753,080. The trade was a 0.88% 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. Insiders have sold a total of 8,960 shares of company stock valued at $2,834,139 in the last ninety days. Insiders own 0.49% of the company's stock.

Cadence Design Systems Profile

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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