Oxbow Advisors LLC Acquires Shares of 10,300 Cadence Design Systems, Inc. $CDNS

Key Points

• Oxbow Advisors LLC opened a new position in Cadence Design Systems, buying 10,300 shares valued at about $2.86 million in the first quarter.
• Cadence reported strong quarterly results, with EPS of $1.96 beating estimates and revenue of $1.47 billion topping forecasts, while revenue rose 18.6% year over year. The company also issued FY2026 and Q2 2026 guidance above current-year analyst expectations.
• Despite solid fundamentals, insiders have been selling shares, including CEO Anirudh Devgan and Director James D. Plummer, while analysts remain broadly positive with a Moderate Buy consensus and an average target price of $386.59.

Oxbow Advisors LLC acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,300 shares of the software maker's stock, valued at approximately $2,862,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Tensor Edge Capital LLC purchased a new position in shares of Cadence Design Systems in the first quarter worth $27,926,000. Leelyn Smith LLC raised its holdings in Cadence Design Systems by 5.7% during the 1st quarter. Leelyn Smith LLC now owns 5,014 shares of the software maker's stock valued at $1,393,000 after buying an additional 271 shares during the last quarter. PFG Investments LLC purchased a new stake in Cadence Design Systems during the 1st quarter valued at $372,000. Turtle Creek Wealth Advisors LLC boosted its position in Cadence Design Systems by 18.9% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 1,888 shares of the software maker's stock valued at $525,000 after buying an additional 300 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in Cadence Design Systems in the 1st quarter worth $1,825,000. Institutional investors own 84.85% of the company's stock.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $373.14 on Friday. 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 fifty day simple moving average is $369.80 and its 200 day simple moving average is $324.78. The stock has a market cap of $102.92 billion, a P/E ratio of 86.98, a price-to-earnings-growth ratio of 4.42 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.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS 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 business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business earned $1.57 EPS. The company's revenue for the quarter was up 18.6% on a year-over-year basis. 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, research analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Insider Buying and Selling

In related news, Director James D. Plummer sold 1,511 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing 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, CEO Anirudh Devgan sold 51,887 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the completion of the sale, the chief executive officer owned 303,525 shares of the company's stock, valued at $112,304,250. This trade represents a 14.60% 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. Insiders sold 178,557 shares of company stock valued at $66,925,452 over the last quarter. 0.49% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Piper Sandler increased their target price on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a "neutral" rating in a report on Tuesday, April 28th. Citigroup raised their target price on Cadence Design Systems from $385.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a report on Wednesday, May 27th. Finally, 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 research report on Tuesday, May 26th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Cadence Design Systems presently has an average rating of "Moderate Buy" and an average target price of $386.59.

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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