Diversify Advisory Services LLC Takes $2.74 Million Position in Cadence Design Systems, Inc. $CDNS

Diversify Advisory Services LLC purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,085 shares of the software maker's stock, valued at approximately $2,738,000.

A number of other large investors also recently modified their holdings of CDNS. Brighton Jones LLC boosted its position in Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock valued at $456,000 after purchasing an additional 676 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in Cadence Design Systems by 3.8% during the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker's stock worth $560,000 after purchasing an additional 80 shares during the period. Thompson Davis & CO. Inc. acquired a new position in Cadence Design Systems in the 2nd quarter valued at about $205,000. NewEdge Advisors LLC grew its position in shares of Cadence Design Systems by 39.3% in the second quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker's stock valued at $10,720,000 after purchasing an additional 9,807 shares during the last quarter. Finally, Glenview Trust co acquired a new position in Cadence Design Systems in the 2nd quarter valued at $226,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Citigroup increased their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Oppenheimer reissued a "market perform" rating and issued a $300.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of Cadence Design Systems from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 30th. Finally, Robert W. Baird upped their price target on shares of Cadence Design Systems from $415.00 to $420.00 and gave the stock an "outperform" rating in a report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $405.69.

Cadence Design Systems Trading Down 2.1%

NASDAQ CDNS opened at $316.52 on Wednesday. The company has a market cap of $87.17 billion, a price-to-earnings ratio of 62.93, a price-to-earnings-growth ratio of 3.49 and a beta of 1.15. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month 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. The business's fifty day moving average is $357.82 and its 200 day moving average is $331.13.

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

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 2,000 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were 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 represents a 1.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 firm's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the transaction, the director directly owned 8,004 shares of the company's stock, valued at $3,101,149.80. The trade was a 2.20% decrease in their position. 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 139,486 shares of company stock valued at $54,262,177 over the last three months. Insiders own 0.49% of the company's stock.

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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