Cadence Design Systems, Inc. $CDNS Shares Purchased by Parkside Financial Bank & Trust

Key Points

• Parkside Financial Bank & Trust increased its Cadence Design Systems stake by 683.4% in the second quarter, holding 5,907 shares valued at approximately $2.2 million. Institutional investors collectively own 84.85% of CDNS.
• Analysts maintain a favorable outlook, with 13 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $405.69.
• Cadence reported quarterly EPS of $2.11, exceeding estimates by $0.06, while revenue rose 24.2% year over year to $1.58 billion. However, insiders sold 7,221 shares worth about $2.57 million over the past 90 days.

Parkside Financial Bank & Trust boosted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 683.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,907 shares of the software maker's stock after acquiring an additional 5,153 shares during the period. Parkside Financial Bank & Trust's holdings in Cadence Design Systems were worth $2,217,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Range Advisory LLC grew its holdings in shares of Cadence Design Systems by 25.0% during the second quarter. Range Advisory LLC now owns 9,791 shares of the software maker's stock worth $3,675,000 after purchasing an additional 1,956 shares during the last quarter. Brown Lisle Cummings Inc. lifted its holdings in shares of Cadence Design Systems by 215.6% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 303 shares of the software maker's stock valued at $114,000 after purchasing an additional 207 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Cadence Design Systems by 32.6% in the 2nd quarter. HighTower Advisors LLC now owns 75,861 shares of the software maker's stock valued at $28,472,000 after purchasing an additional 18,664 shares during the last quarter. Kingsbury Capital Investment Advisors LLC acquired a new stake in shares of Cadence Design Systems in the 2nd quarter valued at about $236,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Cadence Design Systems in the 2nd quarter valued at about $28,465,000. Institutional investors and hedge funds own 84.85% of the company's stock.

Wall Street Analyst Weigh In

CDNS has been the topic of several research analyst reports. KeyCorp reaffirmed an "overweight" rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Oppenheimer restated a "market perform" rating and set a $300.00 target price on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Rosenblatt Securities lifted their target price on shares of Cadence Design Systems from $410.00 to $420.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Bank of America upped their price target 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. Finally, Stifel Nicolaus increased their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $405.69.

Insider Activity at Cadence Design Systems

In other news, Director James Plummer sold 1,511 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total value of $576,204.74. Following the completion of the sale, the director owned 23,264 shares in the company, valued at approximately $8,871,493.76. This trade represents a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Monday, August 17th. The shares were sold at an average price of $323.32, for a total transaction of $646,640.00. Following the completion of the sale, the vice president directly owned 124,586 shares in the company, valued at approximately $40,281,145.52. The trade was a 1.58% 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 7,221 shares of company stock worth $2,570,606 in the last 90 days. Corporate insiders own 0.49% of the company's stock.

Cadence Design Systems Price Performance

CDNS opened at $292.70 on Tuesday. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The business has a 50 day moving average price of $339.97 and a two-hundred day moving average price of $334.12. 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 company has a market cap of $80.61 billion, a PE ratio of 58.19, a P/E/G ratio of 3.14 and a beta of 1.14.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share 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 company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the business posted $1.65 EPS. The company's 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. As a group, research analysts anticipate that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

About Cadence Design Systems

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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