Kestra Advisory Services LLC Cuts Stock Holdings in Cadence Design Systems, Inc. $CDNS

Kestra Advisory Services LLC lessened its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 42.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,662 shares of the software maker's stock after selling 3,394 shares during the period. Kestra Advisory Services LLC's holdings in Cadence Design Systems were worth $1,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in Cadence Design Systems in the fourth quarter worth approximately $1,352,922,000. J. Stern & Co. LLP increased its holdings in shares of Cadence Design Systems by 10,159.3% in the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker's stock valued at $923,129,000 after acquiring an additional 2,924,470 shares during the period. Wellington Management Group LLP raised its position in shares of Cadence Design Systems by 218.6% in the 4th quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker's stock worth $798,087,000 after acquiring an additional 1,751,927 shares in the last quarter. Scge Management L.P. purchased a new stake in shares of Cadence Design Systems during the 2nd quarter worth $187,663,000. Finally, Amundi boosted its position in Cadence Design Systems by 32.8% during the fourth quarter. Amundi now owns 1,984,842 shares of the software maker's stock valued at $620,430,000 after purchasing an additional 489,930 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Insider Transactions at Cadence Design Systems

In related news, VP Paul Scannell sold 10,500 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $339.00, for a total value of $3,559,500.00. Following the completion of the transaction, the vice president owned 33,946 shares in the company, valued at $11,507,694. This trade represents a 23.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the firm's stock in a transaction on 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 owned 126,586 shares of the company's stock, valued at $49,495,126. This trade represents a 1.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 157,057 shares of company stock worth $60,272,277 over the last 90 days. Insiders own 0.49% of the company's stock.

Cadence Design Systems Stock Performance

CDNS opened at $337.01 on Thursday. The company has a market cap of $92.95 billion, a P/E ratio of 78.56, a price-to-earnings-growth ratio of 4.08 and a beta of 1.15. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The firm's 50-day moving average price is $374.79 and its 200-day moving average price is $329.15. 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 released its earnings results 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 net margin of 21.18% and a return on equity of 28.44%. 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 firm earned $1.57 EPS. Cadence Design Systems'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. As a group, equities analysts anticipate that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Benchmark started coverage on Cadence Design Systems in a research note on Wednesday, July 15th. They issued a "buy" rating and a $450.00 target price on the stock. Stifel Nicolaus raised their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a "buy" rating in a report on Tuesday, June 9th. Citigroup raised their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Robert W. Baird boosted their price objective on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Finally, KeyCorp increased their target price on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $393.65.

Cadence Design Systems 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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