Parkside Financial Bank & Trust Grows Position in Cadence Design Systems, Inc. $CDNS

Parkside Financial Bank & Trust raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 683.4% in the second quarter, Holdings Channel.com reports. The fund owned 5,907 shares of the software maker’s stock after buying an additional 5,153 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Cadence Design Systems were worth $2,217,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CDNS. Range Advisory LLC grew its stake in shares of Cadence Design Systems by 25.0% during the 2nd quarter. Range Advisory LLC now owns 9,791 shares of the software maker’s stock worth $3,675,000 after purchasing an additional 1,956 shares during the period. Brown Lisle Cummings Inc. lifted its stake in shares of Cadence Design Systems by 215.6% in the second quarter. Brown Lisle Cummings Inc. now owns 303 shares of the software maker’s stock valued at $114,000 after purchasing an additional 207 shares during the period. HighTower Advisors LLC boosted its holdings in Cadence Design Systems by 32.6% during the second quarter. HighTower Advisors LLC now owns 75,861 shares of the software maker’s stock worth $28,472,000 after buying an additional 18,664 shares in the last quarter. Kingsbury Capital Investment Advisors LLC purchased a new stake in Cadence Design Systems during the second quarter worth about $236,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Cadence Design Systems during the second quarter worth about $28,465,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director James D. Plummer sold 1,511 shares of the company’s stock in a transaction 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 $8,871,493.76. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $323.32, for a total value of $646,640.00. Following the sale, the vice president directly owned 124,586 shares in the company, valued at approximately $40,281,145.52. The trade was a 1.58% 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 have sold 7,221 shares of company stock worth $2,570,606 in the last quarter. 0.49% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CDNS shares. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Wall Street Zen upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 28th. KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Finally, Stifel Nicolaus boosted their target price on Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Thirteen 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 presently has a consensus rating of “Moderate Buy” and an average target price of $405.69.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $292.70 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 market capitalization of $80.61 billion, a PE ratio of 58.19, a price-to-earnings-growth ratio of 3.14 and a beta of 1.14. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. The firm’s 50-day moving average is $339.97 and its two-hundred day moving average is $334.12.

Cadence Design Systems (NASDAQ:CDNS) last issued 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. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the company posted $1.65 EPS. The company’s revenue was up 24.2% on a year-over-year basis. 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 analysts anticipate that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal 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.