Saranac Partners Ltd Acquires 3,103 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Saranac Partners Ltd increased its Cadence Design Systems stake by 25.5% in the fourth quarter, buying 3,103 more shares and bringing its total to 15,262 shares valued at about $4.78 million.
• Cadence Design Systems reported better-than-expected quarterly results, with EPS of $1.96 and revenue of $1.47 billion, while also issuing FY2026 guidance of $7.85 to $7.95 EPS.
• Despite the strong results, the stock was down 2.3% and insiders have been selling shares, including VP Paul Scannell’s recent sale of 10,500 shares under a Rule 10b5-1 plan.

Saranac Partners Ltd raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 25.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,262 shares of the software maker's stock after buying an additional 3,103 shares during the period. Cadence Design Systems accounts for about 1.9% of Saranac Partners Ltd's portfolio, making the stock its 27th largest holding. Saranac Partners Ltd's holdings in Cadence Design Systems were worth $4,783,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDNS. Y.D. More Investments Ltd acquired a new stake in shares of Cadence Design Systems in the third quarter valued at about $26,000. Caitlin John LLC acquired a new position in Cadence Design Systems during the third quarter valued at approximately $29,000. Lodestone Wealth Management LLC bought a new position in Cadence Design Systems in the fourth quarter valued at approximately $30,000. Imprint Wealth LLC bought a new position in Cadence Design Systems in the third quarter valued at approximately $31,000. Finally, Strategic Wealth Investment Group LLC acquired a new position in shares of Cadence Design Systems during the 2nd quarter worth approximately $32,000. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Stock Down 2.3%

CDNS opened at $338.12 on Wednesday. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $376.45. The stock's fifty day simple moving average is $308.79 and its 200 day simple moving average is $310.50. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The stock has a market cap of $93.26 billion, a PE ratio of 78.82, a price-to-earnings-growth ratio of 4.10 and a beta of 1.13.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.91 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The company's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.57 earnings per share. 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 expect that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In other news, VP Paul Scannell sold 10,500 shares of the company's stock in a transaction that occurred 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 transaction, the vice president owned 33,946 shares of the company's stock, valued at approximately $11,507,694. This represents a 23.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $295.03, for a total value of $53,105.40. Following the transaction, the director owned 7,470 shares in the company, valued at $2,203,874.10. The trade was a 2.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 40,180 shares of company stock valued at $12,924,790 in the last 90 days. Insiders own 0.49% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CDNS shares. Rosenblatt Securities reissued a "buy" rating and issued a $360.00 price objective on shares of Cadence Design Systems in a report on Friday, April 24th. Robert W. Baird boosted their target price on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an "outperform" rating in a report on Tuesday, April 28th. Stifel Nicolaus set a $395.00 price target on shares of Cadence Design Systems in a research report on Wednesday, February 18th. Piper Sandler increased their price target on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a "neutral" rating in a research note on Tuesday, April 28th. Finally, Wells Fargo & Company lifted their price objective on shares of Cadence Design Systems from $375.00 to $400.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $380.59.

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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