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

Segall Bryant & Hamill LLC cut its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 23.3% during the first quarter, HoldingsChannel.com reports. The fund owned 21,386 shares of the software maker’s stock after selling 6,506 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Cadence Design Systems were worth $5,943,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. MUFG Securities EMEA plc raised its holdings in shares of Cadence Design Systems by 113.9% in the fourth quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock valued at $3,488,000 after acquiring an additional 5,943 shares in the last quarter. Sun Financial Inc bought a new position in Cadence Design Systems during the 4th quarter worth about $1,225,000. DDD Partners LLC increased its position in Cadence Design Systems by 27.4% during the 4th quarter. DDD Partners LLC now owns 41,968 shares of the software maker’s stock valued at $13,118,000 after purchasing an additional 9,024 shares during the period. Leonteq Securities AG purchased a new position in Cadence Design Systems during the 4th quarter valued at about $1,105,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Cadence Design Systems by 1.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 369,717 shares of the software maker’s stock valued at $115,566,000 after purchasing an additional 3,562 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the subject of several research reports. Robert W. Baird upped their price target on shares of Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. Bank of America boosted their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Wells Fargo & Company upped their target price on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a research report on Wednesday, May 27th. Finally, Stifel Nicolaus lifted their price target on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average target price of $405.69.

Insider Activity at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 51,887 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the sale, the chief executive officer owned 303,525 shares in the company, valued at approximately $112,304,250. The trade was a 14.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 140,557 shares of company stock worth $54,631,737 over the last ninety days. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Stock Down 1.1%

NASDAQ:CDNS opened at $336.15 on Tuesday. The company’s 50-day simple moving average is $371.62 and its 200-day simple moving average is $330.14. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. The stock has a market capitalization of $92.57 billion, a P/E ratio of 66.83, a P/E/G ratio of 3.65 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the business posted $1.65 EPS. Cadence Design Systems’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. On average, equities analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share 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.