Cadence Design Systems, Inc. $CDNS Shares Sold by Greenland Capital Management LP

Key Points

• Greenland Capital Management cut its Cadence Design Systems stake by 68.8% in the second quarter, selling 5,780 shares and retaining 2,625 shares valued at approximately $985,000.
• Institutional investors and hedge funds own 84.85% of CDNS, while company insiders sold 7,221 shares worth $2.57 million over the past three months.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and average price target of $405.69. Cadence recently exceeded quarterly EPS estimates and reported 24.2% year-over-year revenue growth.

Greenland Capital Management LP cut its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 68.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,625 shares of the software maker's stock after selling 5,780 shares during the period. Greenland Capital Management LP's holdings in Cadence Design Systems were worth $985,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. George Kaiser Family Foundation purchased a new position in Cadence Design Systems in the second quarter valued at approximately $725,000. MUFG Securities EMEA plc lifted its position in Cadence Design Systems by 113.9% during the fourth quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker's stock valued at $3,488,000 after buying an additional 5,943 shares in the last quarter. Leonteq Securities AG purchased a new stake in Cadence Design Systems during the fourth quarter worth approximately $1,105,000. PNC Financial Services Group Inc. grew its stake in Cadence Design Systems by 1.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 369,717 shares of the software maker's stock worth $115,566,000 after buying an additional 3,562 shares during the period. Finally, Vega Investment Solutions acquired a new stake in shares of Cadence Design Systems in the second quarter worth $1,957,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Cadence Design Systems news, VP Paul Scannell sold 280 shares of the company's stock in a transaction dated 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 transaction, the vice president directly owned 31,720 shares of the company's stock, valued at $10,753,080. This represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita Brennan sold 180 shares of the firm's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total value of $69,741.00. Following the sale, the director owned 8,004 shares of the company's stock, valued at $3,101,149.80. This represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,221 shares of company stock worth $2,570,606 over the last three months. 0.49% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CDNS has been the topic of a number of research reports. Rosenblatt Securities raised their target price on shares of Cadence Design Systems from $410.00 to $420.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Wall Street Zen raised shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Robert W. Baird increased their price target on Cadence Design Systems from $415.00 to $420.00 and gave the company an "outperform" rating in a report on Tuesday, July 28th. Citigroup raised their price objective 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. Finally, Piper Sandler boosted their price objective on Cadence Design Systems from $325.00 to $349.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Cadence Design Systems has a consensus rating of "Moderate Buy" and a consensus target price of $405.69.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $292.70 on Monday. The company has a market capitalization of $80.61 billion, a price-to-earnings ratio of 58.19, a price-to-earnings-growth ratio of 3.14 and a beta of 1.14. The company has a 50 day moving average of $341.57 and a two-hundred day moving average of $334.06. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.06. The business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 earnings per share. 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, analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Cadence Design Systems 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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