Cadence Design Systems, Inc. $CDNS Shares Sold by Bradley Foster & Sargent Inc. CT

Key Points

• Bradley Foster & Sargent reduced its Cadence Design Systems stake by 5.8% in the first quarter, selling 7,477 shares and leaving it with 122,148 shares valued at about $33.9 million.
• Insider selling continued last quarter, with vice presidents Paul Scannell and Paul Cunningham selling shares in separate transactions; company insiders sold 157,057 shares worth about $60.3 million overall.
• Cadence posted better-than-expected Q1 results, with EPS of $1.96 and revenue of $1.47 billion, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $393.65.

Bradley Foster & Sargent Inc. CT lowered its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,148 shares of the software maker's stock after selling 7,477 shares during the period. Bradley Foster & Sargent Inc. CT's holdings in Cadence Design Systems were worth $33,941,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CDNS. Brighton Jones LLC raised its stake in shares of Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock worth $456,000 after purchasing an additional 676 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in Cadence Design Systems by 3.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker's stock worth $560,000 after buying an additional 80 shares during the period. Thompson Davis & CO. Inc. acquired a new position in Cadence Design Systems in the 2nd quarter worth approximately $205,000. NewEdge Advisors LLC raised its position in Cadence Design Systems by 39.3% during the 2nd quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker's stock worth $10,720,000 after buying an additional 9,807 shares during the last quarter. Finally, Glenview Trust co purchased a new position in Cadence Design Systems during the 2nd quarter worth approximately $226,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cadence Design Systems

In related news, VP Paul Scannell sold 10,500 shares of Cadence Design Systems stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $339.00, for a total value of $3,559,500.00. Following the completion of the transaction, the vice president owned 33,946 shares in the company, valued at $11,507,694. The trade was a 23.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 company's stock in a transaction dated 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 directly owned 126,586 shares of the company's stock, valued at $49,495,126. The trade was 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. Insiders have sold 157,057 shares of company stock worth $60,272,277 over the last quarter. Company insiders own 0.49% of the company's stock.

Analyst Upgrades and Downgrades

CDNS has been the topic of a number of research reports. Piper Sandler increased their price objective on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 28th. Robert W. Baird upped their price target on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. KeyCorp upped their target price on Cadence Design Systems from $405.00 to $425.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a report on Wednesday, May 27th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Cadence Design Systems in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $393.65.

Cadence Design Systems Stock Down 1.3%

CDNS stock opened at $326.24 on Friday. The firm has a market cap of $89.98 billion, a PE ratio of 76.05, a P/E/G ratio of 3.86 and a beta of 1.15. 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 firm's fifty day moving average is $373.92 and its 200 day moving average is $329.27. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.