Phoenix Financial Ltd. Decreases Stock Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• Phoenix Financial Ltd. cut its Cadence Design Systems stake by 35.4% in the fourth quarter, selling 3,537 shares and leaving it with 6,441 shares worth about $2.0 million.
• Cadence insiders have also been selling shares: VP Paul Scannell and CFO John M. Wall both executed stock sales, and insiders sold 40,180 shares worth $12.9 million over the last 90 days.
• The company reported better-than-expected Q1 earnings of $1.96 per share on revenue of $1.47 billion, and analysts remain mostly bullish with a Moderate Buy consensus and average target price of $380.59.

Phoenix Financial Ltd. decreased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 35.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,441 shares of the software maker's stock after selling 3,537 shares during the period. Phoenix Financial Ltd.'s holdings in Cadence Design Systems were worth $2,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Occidental Asset Management LLC lifted its position in shares of Cadence Design Systems by 2.3% during the 3rd quarter. Occidental Asset Management LLC now owns 1,321 shares of the software maker's stock valued at $464,000 after buying an additional 30 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Cadence Design Systems by 0.4% during the 3rd quarter. Whittier Trust Co. now owns 7,072 shares of the software maker's stock valued at $2,456,000 after buying an additional 30 shares in the last quarter. Cornerstone Wealth Group LLC lifted its position in shares of Cadence Design Systems by 4.3% during the 3rd quarter. Cornerstone Wealth Group LLC now owns 777 shares of the software maker's stock valued at $273,000 after buying an additional 32 shares in the last quarter. Spirepoint Private Client LLC lifted its position in shares of Cadence Design Systems by 4.6% during the 4th quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker's stock valued at $226,000 after buying an additional 32 shares in the last quarter. Finally, West Family Investments Inc. lifted its position in shares of Cadence Design Systems by 2.2% during the 3rd quarter. West Family Investments Inc. now owns 1,559 shares of the software maker's stock valued at $548,000 after buying an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Scannell sold 10,500 shares of Cadence Design Systems stock in a transaction on Friday, May 1st. The stock was sold at an average price of $339.00, for a total transaction of $3,559,500.00. Following the transaction, the vice president owned 33,946 shares in the company, valued at $11,507,694. The trade was a 23.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Wall sold 5,000 shares of Cadence Design Systems stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $348.71, for a total value of $1,743,550.00. Following the transaction, the chief financial officer owned 81,875 shares in the company, valued at approximately $28,550,631.25. This represents a 5.76% 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. In the last 90 days, insiders sold 40,180 shares of company stock worth $12,924,790. Company insiders own 0.49% of the company's stock.

Cadence Design Systems Trading Down 1.6%

Shares of CDNS opened at $347.24 on Friday. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $376.45. 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 moving average is $307.04 and its two-hundred day moving average is $310.77. The stock has a market cap of $95.78 billion, a PE ratio of 80.94, a price-to-earnings-growth ratio of 4.18 and a beta of 1.13.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (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 company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter in the previous year, the company posted $1.57 EPS. The firm's quarterly revenue 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. Research analysts forecast that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Citigroup increased their target price on Cadence Design Systems from $385.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Stifel Nicolaus set a $395.00 target price on Cadence Design Systems in a research report on Wednesday, February 18th. Needham & Company LLC reiterated a "buy" rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Wells Fargo & Company increased their target price on Cadence Design Systems from $375.00 to $400.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Finally, Piper Sandler increased their target price on Cadence Design Systems from $319.00 to $325.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $380.59.

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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