United Asset Strategies Inc. Has $2.24 Million Position in Cadence Design Systems, Inc. $CDNS

United Asset Strategies Inc. lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 58.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,055 shares of the software maker’s stock after acquiring an additional 2,962 shares during the period. United Asset Strategies Inc.’s holdings in Cadence Design Systems were worth $2,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after purchasing an additional 676 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Cadence Design Systems by 3.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock worth $560,000 after buying an additional 80 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new position in shares of Cadence Design Systems during the 2nd quarter worth $205,000. NewEdge Advisors LLC lifted its position in shares of Cadence Design Systems by 39.3% during the 2nd quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock worth $10,720,000 after buying an additional 9,807 shares during the last quarter. Finally, Glenview Trust co bought a new stake in shares of Cadence Design Systems during the 2nd quarter worth $226,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the topic of a number of recent analyst reports. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a research report on Wednesday, May 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a report on Thursday. Citigroup raised their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wells Fargo & Company lifted their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Finally, KeyCorp upped their price objective on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock 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 assigned a Hold rating to the company. According to MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus target price of $386.59.

Insider Activity

In other news, CEO Anirudh Devgan sold 25,005 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the completion of the transaction, the chief executive officer owned 253,519 shares of the company’s stock, valued at approximately $105,210,385. This trade represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Cadence Design Systems stock in a transaction on Monday, June 15th. The stock was sold at an average price of $391.00, for a total transaction of $782,000.00. Following the transaction, the vice president owned 126,586 shares in the company, valued at approximately $49,495,126. This trade represents a 1.56% 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. Over the last ninety days, insiders sold 178,557 shares of company stock worth $66,925,452. Company insiders own 0.49% of the company’s stock.

Cadence Design Systems Trading Down 1.6%

Shares of CDNS stock traded down $6.11 during mid-day trading on Tuesday, reaching $369.66. 401,377 shares of the stock traded hands, compared to its average volume of 2,491,491. The stock’s fifty day simple moving average is $371.02 and its two-hundred day simple moving average is $325.22. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The company has a market cap of $101.96 billion, a price-to-earnings ratio of 86.26, a price-to-earnings-growth ratio of 4.42 and a beta of 1.15. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38.

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

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.