Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) by 140.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,743 shares of the software maker’s stock after acquiring an additional 2,186 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Cadence Design Systems were worth $1,040,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new position in Cadence Design Systems in the 4th quarter worth about $28,000. Imprint Wealth LLC acquired a new stake in shares of Cadence Design Systems during the third quarter valued at about $31,000. Whipplewood Advisors LLC boosted its stake in shares of Cadence Design Systems by 933.3% during the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares in the last quarter. Swiss RE Ltd. bought a new stake in shares of Cadence Design Systems during the fourth quarter worth about $29,000. Finally, Brown Lisle Cummings Inc. grew its holdings in shares of Cadence Design Systems by 860.0% during the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on CDNS shares. KeyCorp raised their price objective on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a report on Tuesday, April 28th. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Piper Sandler raised their price target on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Finally, Benchmark started coverage on shares of Cadence Design Systems in a report on Wednesday. They set a “buy” rating and a $450.00 price target on the stock. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $393.65.
Insider Buying and Selling at Cadence Design Systems
In other Cadence Design Systems news, VP Paul Cunningham sold 2,000 shares of the stock in a transaction that occurred 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 directly owned 126,586 shares in the company, valued at approximately $49,495,126. This represents a 1.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the 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 transaction, the director owned 8,004 shares in the company, valued at $3,101,149.80. The trade was 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. Insiders have sold a total of 157,057 shares of company stock valued at $60,272,277 over the last ninety days. Insiders own 0.49% of the company’s stock.
Key Stories Impacting Cadence Design Systems
Here are the key news stories impacting Cadence Design Systems this week:
- Positive Sentiment: Cadence launched AuraStack AI Super Agent, a new agentic AI platform for PCB and advanced packaging design. The tool is intended to speed design workflows from system planning to final product, reinforcing Cadence’s position in AI-enabled electronic design automation. Article Title
- Positive Sentiment: Reports suggest Cadence is expanding its 2nm foundry relationships and raising full-year outlook, which points to strong demand from advanced chip design customers and could support revenue growth. Article Title
- Positive Sentiment: Rosenblatt Securities raised its price target on Cadence to $410 from $375 and reiterated a buy rating, signaling continued analyst confidence in the stock’s upside potential. Article Title
- Neutral Sentiment: Cadence is being highlighted by market commentary as a stock that may deserve a premium valuation because of AI chip demand, but that view is largely valuation-related rather than a direct business catalyst. Article Title
- Neutral Sentiment: Another article says CDNS could be about 3% undervalued ahead of its July 27 earnings report, suggesting investors are waiting for confirmation from results rather than reacting to a major new development. Article Title
- Negative Sentiment: MarketWatch notes that Cadence Design Systems stock is underperforming peers today, which helps explain the weaker trading action despite the company’s positive AI and outlook news. Article Title
Cadence Design Systems Stock Down 1.4%
Cadence Design Systems stock opened at $371.50 on Thursday. The firm has a market cap of $102.47 billion, a price-to-earnings ratio of 86.60, a PEG ratio of 4.46 and a beta of 1.15. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. The firm has a 50 day moving average price of $376.59 and a two-hundred day moving average price of $328.24.
Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.57 EPS. 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. Equities analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS 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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