MinichMacGregor Wealth Management LLC Sells 3,247 Shares of Cadence Design Systems, Inc. $CDNS

MinichMacGregor Wealth Management LLC trimmed its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,882 shares of the software maker’s stock after selling 3,247 shares during the quarter. MinichMacGregor Wealth Management LLC’s holdings in Cadence Design Systems were worth $9,206,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of Cadence Design Systems by 3.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker’s stock worth $287,000 after acquiring an additional 31 shares during the last quarter. Westfuller Advisors LLC raised its stake 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 worth $113,000 after purchasing an additional 31 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in Cadence Design Systems by 32.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker’s stock worth $37,000 after buying an additional 32 shares during the period. KCM Investment Advisors LLC lifted its stake in Cadence Design Systems by 0.4% during the 1st quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker’s stock valued at $2,227,000 after acquiring an additional 32 shares during the period. Finally, Fulton Bank N.A. grew its stake in shares of Cadence Design Systems by 2.6% during the 2nd quarter. Fulton Bank N.A. now owns 1,296 shares of the software maker’s stock worth $486,000 after purchasing an additional 33 shares during the period. 84.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CDNS has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Monday. Piper Sandler upped their target price on shares of Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Citigroup upped their target price on Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Bank of America lifted their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Robert W. Baird upped their target price on shares of Cadence Design Systems from $415.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average price target of $404.14.

Cadence Design Systems Stock Down 1.0%

CDNS stock traded down $3.31 during trading on Wednesday, hitting $330.89. 836,123 shares of the company’s stock were exchanged, compared to its average volume of 2,435,986. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The business has a 50-day moving average price of $319.68 and a two-hundred day moving average price of $338.26. The stock has a market capitalization of $91.12 billion, a price-to-earnings ratio of 65.78, a PEG ratio of 3.73 and a beta of 1.13.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 27.98% and a net margin of 23.60%. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.65 earnings per share. 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. As a group, equities research analysts expect that Cadence Design Systems, Inc. will post 6.41 EPS for the current year.

Insider Activity

In other Cadence Design Systems news, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $350.07, for a total value of $437,587.50. Following the completion of the transaction, the director owned 39,544 shares in the company, valued at approximately $13,843,168.08. This represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 280 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $339.00, for a total value of $94,920.00. Following the completion of the sale, the vice president directly owned 31,720 shares of the company’s stock, valued at approximately $10,753,080. This trade represents a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,960 shares of company stock worth $2,185,879 over the last quarter. Insiders own 0.49% of the company’s stock.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware, and semiconductor intellectual property. Its products help engineers design, verify, analyze, and manufacture complex semiconductor chips, printed circuit boards, and electronic systems.

The company’s offerings include digital and custom/analog integrated-circuit design tools, functional verification and emulation platforms, semiconductor intellectual property, and system analysis solutions.