Cadence Design Systems, Inc. $CDNS Shares Sold by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC cut its Cadence Design Systems stake by 18.5% in the first quarter, selling 3,258 shares and leaving it with 14,329 shares valued at about $3.98 million.
• Cadence posted strong quarterly results, with earnings of $1.96 per share beating expectations and revenue rising 18.6% year over year to $1.47 billion.
• Analyst sentiment remains favorable, with 14 Buy ratings, 3 Hold ratings, and a consensus price target of $386.59, while several insiders also sold shares in recent months.

Janney Montgomery Scott LLC lessened its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 18.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,329 shares of the software maker's stock after selling 3,258 shares during the quarter. Janney Montgomery Scott LLC's holdings in Cadence Design Systems were worth $3,982,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of CDNS. Boomfish Wealth Group LLC lifted its holdings in Cadence Design Systems by 2.5% in the 1st quarter. Boomfish Wealth Group LLC now owns 3,268 shares of the software maker's stock worth $908,000 after buying an additional 79 shares in the last quarter. Cornerstone Wealth Group LLC increased its stake in shares of Cadence Design Systems by 19.1% in the first quarter. Cornerstone Wealth Group LLC now owns 952 shares of the software maker's stock valued at $265,000 after purchasing an additional 153 shares during the period. Goodman Advisory Group LLC bought a new stake in Cadence Design Systems during the 1st quarter valued at $180,000. Realta Investment Advisors lifted its stake in shares of Cadence Design Systems by 8.2% in the 1st quarter. Realta Investment Advisors now owns 3,942 shares of the software maker's stock worth $1,095,000 after acquiring an additional 299 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in Cadence Design Systems by 2.8% during the 1st quarter. Sterling Capital Management LLC now owns 13,350 shares of the software maker's stock valued at $3,710,000 after purchasing an additional 365 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Trading Down 2.4%

Shares of NASDAQ CDNS traded down $9.04 during midday trading on Tuesday, reaching $366.73. 119,798 shares of the stock were exchanged, compared to its average volume of 2,488,786. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69. The business has a 50-day simple moving average of $371.02 and a two-hundred day simple moving average of $325.22. The company has a market capitalization of $101.15 billion, a price-to-earnings ratio of 85.70, a P/E/G ratio of 4.42 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating 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 analyst estimates of $1.46 billion. During the same period in the previous year, the company posted $1.57 earnings per share. 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. As a group, equities research analysts expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Analysts Set New Price Targets

CDNS has been the topic of several research reports. Wells Fargo & Company upped their price target on Cadence Design Systems from $400.00 to $425.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Needham & Company LLC restated a "buy" rating and set a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, April 28th. Rosenblatt Securities reissued a "buy" rating and issued a $360.00 target price on shares of Cadence Design Systems in a research report on Friday, April 24th. Robert W. Baird raised their price objective on 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, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cadence Design Systems in a research report on Thursday. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $386.59.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Cunningham sold 2,000 shares of the 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 in the company, valued at approximately $49,495,126. This trade represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total value of $10,377,075.00. Following the completion of the sale, the chief executive officer owned 253,519 shares in the company, valued at $105,210,385. The trade was a 8.98% 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. Over the last ninety days, insiders have sold 178,557 shares of company stock worth $66,925,452. 0.49% of the stock is currently owned by insiders.

Cadence Design Systems Company 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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