Illinois Municipal Retirement Fund decreased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) by 13.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,712 shares of the software maker’s stock after selling 4,153 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Cadence Design Systems were worth $7,700,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Cadence Design Systems by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock valued at $8,511,888,000 after buying an additional 307,753 shares during the period. State Street Corp lifted its holdings in shares of Cadence Design Systems by 1.1% during the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock valued at $3,939,561,000 after acquiring an additional 135,206 shares during the period. Geode Capital Management LLC boosted its stake in shares of Cadence Design Systems by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock valued at $2,378,707,000 after purchasing an additional 92,152 shares in the last quarter. Norges Bank acquired a new stake in shares of Cadence Design Systems in the 4th quarter valued at $1,352,922,000. Finally, Van ECK Associates Corp grew its holdings in shares of Cadence Design Systems by 11.9% in the 4th quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock worth $1,104,714,000 after purchasing an additional 376,654 shares during the last quarter. 84.85% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
CDNS has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their target price on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Piper Sandler upped their price objective on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Robert W. Baird raised their price objective on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Rosenblatt Securities lifted their target price on shares of Cadence Design Systems from $375.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus increased their price target 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $393.65.
Cadence Design Systems Price Performance
Shares of CDNS stock opened at $330.11 on Friday. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The firm’s 50 day moving average is $376.09 and its 200-day moving average is $328.57. The firm has a market capitalization of $91.05 billion, a price-to-earnings ratio of 76.95, a PEG ratio of 4.32 and a beta of 1.15.
Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted $1.57 earnings per share. Cadence Design Systems’s revenue for the quarter 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. Sell-side analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.
Insider Transactions at Cadence Design Systems
In other news, CFO John M. Wall sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $348.71, for a total transaction of $1,743,550.00. Following the transaction, the chief financial officer owned 81,875 shares of the company’s stock, valued at $28,550,631.25. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 10,500 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $339.00, for a total value of $3,559,500.00. Following the completion of the transaction, the vice president owned 33,946 shares in the company, valued at approximately $11,507,694. This represents a 23.62% 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. In the last three months, insiders sold 157,057 shares of company stock worth $60,272,277. Corporate insiders own 0.49% of the company’s stock.
Cadence Design Systems News Summary
Here are the key news stories impacting Cadence Design Systems this week:
- Positive Sentiment: Benchmark upgraded Cadence to Strong Buy, and recent brokerage commentary put the average price target around $387, indicating Wall Street still sees upside from current levels. Zacks.com
- Positive Sentiment: Cadence recently launched new AI products, including the AuraStack AI Super Agent for PCB and advanced packaging design, reinforcing the company’s growth narrative in AI-driven design workflows. Business Wire article
- Positive Sentiment: The company also announced a partnership with Rapidus to advance agentic AI for advanced SoC design, which could support longer-term demand for Cadence’s software tools. Business Wire article
- Neutral Sentiment: Cadence is due to report second-quarter results on July 27, and some of the weakness may reflect investors taking profits or reducing exposure ahead of earnings. MSN article
- Negative Sentiment: Shares are also being hit by broader fears that Moonshot and other AI-driven tools could disrupt the EDA industry, pressuring Cadence and peers like Synopsys on concerns about future pricing power and competition. MSN article
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.
Featured Stories
- Five stocks we like better than Cadence Design Systems
- AST SpaceMobile Stock Sinks as SpaceX Fallout Rattles Space Sector
- Aehr Test Systems Stock Soars on Earnings, Eyes Over 150% Revenue Growth
- TSMC Just Gave AI Chip Bulls Another Reason to Stay Confident
- GE Aerospace Faces a Prove-It Moment in Q2 Earnings
Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report).
Receive News & Ratings for Cadence Design Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Design Systems and related companies with MarketBeat.com's FREE daily email newsletter.
