Cadence Design Systems, Inc. $CDNS Stock Purchased by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its Cadence Design Systems stake by 4,881.8% in the third quarter, bringing its holdings to 32,332 shares valued at approximately $10.7 million. Institutional investors collectively own 84.85% of CDNS.
• Cadence reported quarterly revenue of $1.58 billion, up 24.2% year over year, and adjusted EPS of $2.11, exceeding analysts’ expectations of $2.05.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $404.14, while CDNS shares recently traded at $348.42.

NorthCrest Asset Manangement LLC increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 4,881.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,332 shares of the software maker's stock after purchasing an additional 31,683 shares during the period. NorthCrest Asset Manangement LLC's holdings in Cadence Design Systems were worth $10,676,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Perpetual Ltd boosted its position in Cadence Design Systems by 14.5% during the 3rd quarter. Perpetual Ltd now owns 4,218 shares of the software maker's stock valued at $1,393,000 after acquiring an additional 534 shares in the last quarter. JGP Wealth Management LLC raised its position in shares of Cadence Design Systems by 9.9% in the 3rd quarter. JGP Wealth Management LLC now owns 3,661 shares of the software maker's stock worth $1,209,000 after acquiring an additional 329 shares in the last quarter. Armstrong Advisory Group Inc. lifted its stake in shares of Cadence Design Systems by 3,662.5% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 301 shares of the software maker's stock worth $99,000 after purchasing an additional 293 shares during the last quarter. Gilpin Wealth Management LLC purchased a new stake in shares of Cadence Design Systems during the 3rd quarter worth $224,000. Finally, Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in Cadence Design Systems by 63.0% during the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 6,561 shares of the software maker's stock valued at $2,166,000 after purchasing an additional 2,537 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Trading Down 1.3%

Shares of NASDAQ:CDNS opened at $348.42 on Tuesday. The business's 50-day moving average is $319.81 and its 200 day moving average is $337.89. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The firm has a market capitalization of $95.95 billion, a P/E ratio of 69.27, a P/E/G ratio of 3.78 and a beta of 1.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%. The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same period last year, the business posted $1.65 earnings per share. The firm's revenue was up 24.2% compared to the same quarter last year. 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. On average, research analysts predict that Cadence Design Systems, Inc. will post 6.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on CDNS shares. Wall Street Zen upgraded Cadence Design Systems from a "hold" rating to a "buy" rating in a research note on Monday. Citigroup raised their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Oppenheimer reaffirmed a "market perform" rating and issued a $300.00 price objective (up from $275.00) on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $420.00 price objective (up from $400.00) on shares of Cadence Design Systems in a research note on Wednesday, October 7th. Finally, Weiss Ratings cut shares of Cadence Design Systems from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $404.14.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director Ita Brennan sold 180 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $285.51, for a total transaction of $51,391.80. Following the sale, the director owned 7,824 shares of the company's stock, valued at approximately $2,233,830.24. The trade was a 2.25% decrease in their position. The transaction 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, VP Paul Scannell sold 280 shares of the business's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $339.00, for a total transaction of $94,920.00. Following the sale, the vice president directly owned 31,720 shares in the company, valued at $10,753,080. This trade represents a 0.88% decrease in their ownership of the stock. 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 6,960 shares of company stock valued at $2,185,879 over the last 90 days. Company insiders own 0.49% of the company's stock.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware, and semiconductor intellectual property. Its products help engineers design, verify, analyze, and manufacture complex semiconductor chips, printed circuit boards, and electronic systems.

The company's offerings include digital and custom/analog integrated-circuit design tools, functional verification and emulation platforms, semiconductor intellectual property, and system analysis solutions.

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