Cadence Design Systems, Inc. $CDNS Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its Cadence Design Systems stake by 5.8% in the fourth quarter, selling 3,130 shares and leaving it with 50,958 shares valued at about $15.9 million.
• Cadence reported solid quarterly results, posting earnings of $1.96 per share, ahead of estimates, on revenue of $1.47 billion, up 18.6% year over year. The company also issued FY2026 guidance of 7.850–7.950 EPS.
• Analyst sentiment remains positive, with multiple firms raising price targets and the stock carrying a consensus “Moderate Buy” rating and average target price of $380.59.>

HighTower Advisors LLC cut its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,958 shares of the software maker's stock after selling 3,130 shares during the quarter. HighTower Advisors LLC's holdings in Cadence Design Systems were worth $15,929,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Y.D. More Investments Ltd acquired a new position in Cadence Design Systems during the 3rd quarter valued at approximately $26,000. Caitlin John LLC bought a new position in Cadence Design Systems during the 3rd quarter worth $29,000. Lodestone Wealth Management LLC acquired a new stake in Cadence Design Systems in the fourth quarter worth $30,000. Imprint Wealth LLC bought a new stake in Cadence Design Systems in the third quarter valued at $31,000. Finally, Strategic Wealth Investment Group LLC bought a new stake in Cadence Design Systems in the second quarter valued at $32,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CDNS shares. Citigroup upped their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Piper Sandler boosted their target price on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a "neutral" rating in a research note on Tuesday, April 28th. Stifel Nicolaus set a $395.00 target price on shares of Cadence Design Systems in a research report on Wednesday, February 18th. Robert W. Baird raised their price target on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $360.00 price target on shares of Cadence Design Systems in a report on Friday, April 24th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Cadence Design Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $380.59.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $373.59 on Monday. The stock has a fifty day moving average price of $312.73 and a two-hundred day moving average price of $311.01. 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 has a market cap of $103.04 billion, a P/E ratio of 87.08, a PEG ratio of 4.42 and a beta of 1.13. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $381.55.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business earned $1.57 EPS. The company's quarterly revenue was up 18.6% compared to the same quarter last year. 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. Research analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In related news, CFO John M. Wall sold 21,500 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $309.45, for a total transaction of $6,653,175.00. Following the completion of the sale, the chief financial officer directly owned 86,875 shares of the company's stock, valued at $26,883,468.75. This represents a 19.84% decrease in their ownership of the stock. The transaction 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, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $295.03, for a total transaction of $53,105.40. Following the sale, the director owned 7,470 shares of the company's stock, valued at $2,203,874.10. The trade was a 2.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 41,251 shares of company stock worth $13,294,350. Company insiders own 0.49% of the company's stock.

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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