Assenagon Asset Management S.A. Sells 900,279 Shares of Cadence Design Systems, Inc. $CDNS

Assenagon Asset Management S.A. reduced its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 80.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 224,138 shares of the software maker’s stock after selling 900,279 shares during the period. Assenagon Asset Management S.A. owned 0.08% of Cadence Design Systems worth $62,281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CDNS. Vanguard Group Inc. lifted its holdings in Cadence Design Systems by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock worth $8,511,888,000 after acquiring an additional 307,753 shares during the period. State Street Corp raised its position in Cadence Design Systems by 1.1% in the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock worth $3,939,561,000 after acquiring an additional 135,206 shares during the period. Geode Capital Management LLC raised its position in Cadence Design Systems by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock worth $2,378,707,000 after acquiring an additional 92,152 shares during the period. Norges Bank purchased a new position in Cadence Design Systems in the fourth quarter valued at about $1,352,922,000. Finally, Van ECK Associates Corp increased its stake in shares of Cadence Design Systems by 11.9% during 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 currently owned by hedge funds and other institutional investors.

Cadence Design Systems Trading Down 1.1%

Shares of CDNS opened at $368.23 on Friday. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The stock has a market cap of $101.57 billion, a PE ratio of 85.83, a P/E/G ratio of 4.41 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. The business’s 50-day moving average price is $362.77 and its 200-day moving average price is $322.98.

Cadence Design Systems (NASDAQ:CDNS) last released 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. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the business earned $1.57 earnings per share. Cadence Design Systems’s 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, equities analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of recent research reports. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a research report on Wednesday, May 27th. Wells Fargo & Company boosted their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Citigroup boosted 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 report on Wednesday, April 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $360.00 price objective on shares of Cadence Design Systems in a report on Friday, April 24th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average price target of $386.59.

Insiders Place Their Bets

In other Cadence Design Systems news, CEO Anirudh Devgan sold 25,005 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total value 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 $105,210,385. The trade was a 8.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total transaction of $69,741.00. Following the completion of the transaction, the director directly owned 8,004 shares in the company, valued at $3,101,149.80. The trade was a 2.20% 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. Insiders sold a total of 179,557 shares of company stock valued at $67,205,642 over the last three months. Corporate insiders own 0.49% of the company’s stock.

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.