ABN AMRO Bank N.V. Decreases Position in Cadence Design Systems, Inc. $CDNS

ABN AMRO Bank N.V. decreased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.1% during the 1st quarter, Holdings Channel reports. The firm owned 101,436 shares of the software maker’s stock after selling 4,303 shares during the quarter. ABN AMRO Bank N.V.’s holdings in Cadence Design Systems were worth $27,780,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CDNS. Brighton Jones LLC increased its position in Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after purchasing an additional 676 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Cadence Design Systems by 3.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock worth $560,000 after acquiring an additional 80 shares during the period. Thompson Davis & CO. Inc. acquired a new position in Cadence Design Systems in the 2nd quarter valued at $205,000. NewEdge Advisors LLC raised its holdings in Cadence Design Systems by 39.3% in the 2nd quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock valued at $10,720,000 after acquiring an additional 9,807 shares during the last quarter. Finally, Glenview Trust co purchased a new position in shares of Cadence Design Systems during the 2nd quarter worth $226,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

CDNS stock opened at $377.27 on Friday. The stock has a 50-day moving average price of $364.23 and a two-hundred day moving average price of $323.36. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month 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 company has a market cap of $104.06 billion, a PE ratio of 87.94, a price-to-earnings-growth ratio of 4.47 and a beta of 1.15.

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, topping analysts’ consensus estimates of $1.91 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The company’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period last year, the business 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. As a group, research analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CDNS. Piper Sandler raised their price objective on Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Robert W. Baird increased their target price on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Wells Fargo & Company increased their target price on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Finally, Citigroup lifted their price target on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $386.59.

Insider Activity

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 transaction of $10,377,075.00. Following the completion of the sale, the chief executive officer directly owned 253,519 shares in the company, valued at $105,210,385. The trade was a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 business’s stock in a transaction that occurred 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 sale, the director owned 8,004 shares of the company’s stock, valued at approximately $3,101,149.80. This represents a 2.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 179,557 shares of company stock worth $67,205,642. Insiders own 0.49% of the company’s stock.

Cadence Design Systems Company 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.