Cadence Design Systems, Inc. $CDNS Stock Holdings Lifted by Steigerwald Gordon & Koch Inc.

Key Points

• Steigerwald Gordon & Koch Inc. dramatically increased its Cadence Design Systems stake in the first quarter, boosting holdings by 8,329.5% to 21,748 shares valued at about $6.0 million.
• Analysts remain bullish on CDNS, with several firms raising price targets and the stock carrying a consensus rating of “Moderate Buy” and a consensus price target of $386.59.
• Cadence reported strong quarterly results, beating EPS and revenue expectations, while insiders also sold shares in recent months through pre-arranged trading plans.

Steigerwald Gordon & Koch Inc. grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 8,329.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,748 shares of the software maker's stock after purchasing an additional 21,490 shares during the period. Steigerwald Gordon & Koch Inc.'s holdings in Cadence Design Systems were worth $6,043,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDNS. Pinnacle Wealth Management Advisory Group LLC increased its holdings in Cadence Design Systems by 3.1% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker's stock worth $287,000 after buying an additional 31 shares during the last quarter. Spirepoint Private Client LLC lifted its stake in Cadence Design Systems by 4.6% in the fourth quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker's stock valued at $226,000 after acquiring an additional 32 shares during the last quarter. Townsquare Capital LLC lifted its stake in Cadence Design Systems by 3.6% in the fourth quarter. Townsquare Capital LLC now owns 977 shares of the software maker's stock valued at $305,000 after acquiring an additional 34 shares during the last quarter. Pinnacle Associates Ltd. grew its position in Cadence Design Systems by 3.4% in the third quarter. Pinnacle Associates Ltd. now owns 1,079 shares of the software maker's stock worth $379,000 after acquiring an additional 35 shares in the last quarter. Finally, Global Assets Advisory LLC increased its stake in shares of Cadence Design Systems by 2.1% during the 4th quarter. Global Assets Advisory LLC now owns 1,726 shares of the software maker's stock worth $540,000 after purchasing an additional 35 shares during the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CDNS shares. 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 report on Tuesday, April 28th. KeyCorp upped their price objective on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. Stifel Nicolaus increased their target price on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a "buy" rating in a research report on Tuesday, June 9th. Wells Fargo & Company raised their target price on Cadence Design Systems from $400.00 to $425.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Finally, Citigroup boosted their price target on Cadence Design Systems from $385.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $386.59.

Insiders Place Their Bets

In other Cadence Design Systems news, Director James D. Plummer sold 1,511 shares of the 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 directly owned 23,264 shares of the company's stock, valued at $8,871,493.76. This represents a 6.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the business'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 transaction, the director owned 8,004 shares in the company, valued at $3,101,149.80. This represents a 2.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 178,557 shares of company stock valued at $66,925,452 in the last 90 days. 0.49% of the stock is currently owned by corporate insiders.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS opened at $373.14 on Friday. 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 stock's 50-day moving average is $369.80 and its 200-day moving average is $324.78. The company has a market cap of $102.92 billion, a P/E ratio of 86.98, a P/E/G ratio of 4.42 and a beta of 1.15. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter in the previous year, the firm earned $1.57 EPS. The firm's 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. Equities research analysts predict that Cadence Design Systems, Inc. will post 6.23 earnings per share 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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