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

Key Points

• Frank Rimerman Advisors LLC increased its Cadence Design Systems stake by 256.5% in the third quarter, reaching 17,892 shares valued at approximately $5.9 million. Institutional investors collectively own 84.85% of CDNS.
• Analyst sentiment remains favorable, with one Strong Buy, 18 Buy, and three Hold ratings. The stock has an overall “Moderate Buy” consensus and an average price target of $404.14.
• Cadence reported quarterly EPS of $2.11, exceeding estimates by $0.06, while revenue rose 24.2% year over year to $1.58 billion. CDNS opened at $319.51, down 1.5%, and insiders have sold $2.83 million worth of shares over the past 90 days.

Frank Rimerman Advisors LLC lifted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 256.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,892 shares of the software maker's stock after buying an additional 12,873 shares during the period. Frank Rimerman Advisors LLC's holdings in Cadence Design Systems were worth $5,908,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. George Kaiser Family Foundation bought a new stake in Cadence Design Systems in the 2nd quarter valued at approximately $725,000. Vega Investment Solutions bought a new position in shares of Cadence Design Systems during the 2nd quarter worth approximately $1,957,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Cadence Design Systems by 65.7% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 26,160 shares of the software maker's stock worth $8,638,000 after acquiring an additional 10,376 shares in the last quarter. Osmosis Investment Management UK Ltd acquired a new stake in shares of Cadence Design Systems in the second quarter valued at approximately $5,238,000. Finally, Lombard Odier Asset Management Europe Ltd raised its holdings in shares of Cadence Design Systems by 30.9% in the first quarter. Lombard Odier Asset Management Europe Ltd now owns 52,941 shares of the software maker's stock valued at $14,711,000 after purchasing an additional 12,495 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Insider Activity

In other Cadence Design Systems news, VP Paul Scannell sold 280 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $339.00, for a total value of $94,920.00. Following the completion of the sale, the vice president owned 31,720 shares in the company, valued at $10,753,080. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $277.12, for a total transaction of $554,240.00. Following the completion of the transaction, the vice president directly owned 121,793 shares of the company's stock, valued at approximately $33,751,276.16. This trade represents a 1.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Corporate insiders own 0.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CDNS shares. Citigroup boosted their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. FBN Securities assumed coverage on shares of Cadence Design Systems in a research report on Friday, September 11th. They issued an "outperform" rating and a $375.00 target price for the company. Wall Street Zen upgraded shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a research note on Monday, October 12th. Piper Sandler lifted their price target on shares of Cadence Design Systems from $325.00 to $349.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $420.00 price objective (up from $400.00) on shares of Cadence Design Systems in a research note on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $404.14.

Cadence Design Systems Stock Down 1.5%

CDNS stock opened at $319.51 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $318.85 and a two-hundred day moving average price of $338.84. The company has a market cap of $87.99 billion, a price-to-earnings ratio of 63.52, a P/E/G ratio of 3.42 and a beta of 1.13. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%. The business's quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.65 EPS. 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 anticipate that Cadence Design Systems, Inc. will post 6.41 EPS for the current fiscal year.

Cadence Design Systems Company 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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