Cadence Design Systems, Inc. $CDNS Shares Bought by Cache Advisors LLC

Key Points

• Cache Advisors LLC significantly increased its stake in Cadence Design Systems, boosting holdings by 239.7% in the first quarter to 4,787 shares worth about $1.33 million.
• Cadence Design Systems reported better-than-expected quarterly results, with EPS of $1.96 versus estimates of $1.91 and revenue of $1.47 billion, up 18.6% year over year.
• Despite the positive fundamentals, the stock was down 2.6% in Wednesday trading, while analysts remain generally bullish with a consensus Moderate Buy rating and a price target of $386.59.

Cache Advisors LLC lifted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 239.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,787 shares of the software maker's stock after purchasing an additional 3,378 shares during the quarter. Cache Advisors LLC's holdings in Cadence Design Systems were worth $1,330,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Caitlin John LLC bought a new position in Cadence Design Systems in the 3rd quarter valued at about $29,000. University of Texas Texas AM Investment Management Co. acquired a new position in Cadence Design Systems during the 4th quarter valued at about $28,000. Imprint Wealth LLC bought a new stake in shares of Cadence Design Systems during the 3rd quarter worth about $31,000. Swiss RE Ltd. bought a new stake in shares of Cadence Design Systems during the 4th quarter worth about $29,000. Finally, Lodestone Wealth Management LLC acquired a new stake in shares of Cadence Design Systems in the 4th quarter worth approximately $30,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Trading Down 2.6%

Shares of NASDAQ:CDNS opened at $379.06 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. The stock has a market capitalization of $104.55 billion, a price-to-earnings ratio of 88.36, a PEG ratio of 4.60 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. The company has a 50 day moving average price of $359.57 and a 200 day moving average price of $322.52.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.05. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter in the prior year, the company earned $1.57 earnings per share. The firm's 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. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Paul Cunningham sold 2,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $391.00, for a total value of $782,000.00. Following the completion of the transaction, the vice president owned 126,586 shares in the company, valued at $49,495,126. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Wall sold 21,500 shares of Cadence Design Systems stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $309.45, for a total value of $6,653,175.00. Following the completion of the transaction, the chief financial officer directly owned 86,875 shares in the company, valued at $26,883,468.75. This represents a 19.84% 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. Over the last ninety days, insiders sold 179,557 shares of company stock worth $67,205,642. Corporate insiders own 0.49% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Citigroup boosted their target price on Cadence Design Systems from $385.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Robert W. Baird upped their target price on Cadence Design Systems from $381.00 to $385.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 28th. Piper Sandler increased their price target on Cadence Design Systems from $319.00 to $325.00 and gave the company a "neutral" rating in a research note on Tuesday, April 28th. Finally, Stifel Nicolaus lifted their price target on Cadence Design Systems from $395.00 to $432.00 and gave the company a "buy" rating in a research report on Tuesday, June 9th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $386.59.

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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