Segall Bryant & Hamill LLC Sells 6,506 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Segall Bryant & Hamill reduced its Cadence Design Systems stake by 23.3% in the first quarter, selling 6,506 shares and retaining 21,386 shares valued at approximately $5.94 million. Institutional investors collectively own 84.85% of CDNS.
• Wall Street remains broadly bullish, with 13 analysts rating the stock a Buy and three rating it a Hold. The consensus rating is “Moderate Buy,” with an average price target of $405.69.
• Cadence reported quarterly earnings of $2.11 per share, exceeding estimates by $0.06, while revenue rose 24.2% year over year to $1.58 billion. Insiders sold 140,557 shares worth about $54.6 million over the past 90 days, largely through pre-arranged trading plans.

Segall Bryant & Hamill LLC cut its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 23.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,386 shares of the software maker's stock after selling 6,506 shares during the period. Segall Bryant & Hamill LLC's holdings in Cadence Design Systems were worth $5,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Pinnacle Wealth Management Advisory Group LLC increased its stake in Cadence Design Systems by 3.1% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker's stock worth $287,000 after buying an additional 31 shares in the last quarter. Westfuller Advisors LLC lifted its position in shares of Cadence Design Systems by 8.2% in the first quarter. Westfuller Advisors LLC now owns 408 shares of the software maker's stock valued at $113,000 after acquiring an additional 31 shares in the last quarter. Spirepoint Private Client LLC boosted its stake in shares of Cadence Design Systems by 4.6% in the fourth quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker's stock worth $226,000 after acquiring an additional 32 shares during the period. Cornerstone Planning Group LLC grew its position in shares of Cadence Design Systems by 32.0% during the first quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker's stock worth $37,000 after purchasing an additional 32 shares in the last quarter. Finally, KCM Investment Advisors LLC grew its position in shares of Cadence Design Systems by 0.4% during the first quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker's stock worth $2,227,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Robert W. Baird lifted their price target on shares of Cadence Design Systems from $415.00 to $420.00 and gave the company an "outperform" rating in a report on Tuesday, July 28th. Morgan Stanley reissued an "overweight" rating and set a $400.00 price objective on shares of Cadence Design Systems in a report on Wednesday, July 29th. KeyCorp reiterated an "overweight" rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Finally, Citigroup increased their price target on Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and an average target price of $405.69.

Insider Transactions at Cadence Design Systems

In other news, Director James D. Plummer sold 1,511 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the sale, the director directly owned 23,264 shares in the company, valued at approximately $8,871,493.76. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 that occurred on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the sale, the director directly owned 8,004 shares of the company's stock, valued at $3,101,149.80. This represents a 2.20% 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. In the last 90 days, insiders sold 140,557 shares of company stock valued at $54,631,737. Company insiders own 0.49% of the company's stock.

Cadence Design Systems Price Performance

CDNS stock opened at $336.15 on Tuesday. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $371.62 and a 200 day moving average price of $330.14. The stock has a market cap of $92.57 billion, a PE ratio of 66.83, a P/E/G ratio of 3.65 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.06. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The firm's revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the prior year, the company posted $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. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

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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