ABN Amro Investment Solutions Sells 2,818 Shares of Cadence Design Systems, Inc. $CDNS

ABN Amro Investment Solutions lessened its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 26,989 shares of the software maker’s stock after selling 2,818 shares during the quarter. ABN Amro Investment Solutions’ holdings in Cadence Design Systems were worth $7,499,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in Cadence Design Systems in the 4th quarter worth approximately $1,352,922,000. J. Stern & Co. LLP boosted its position in shares of Cadence Design Systems by 10,159.3% in the fourth quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock valued at $923,129,000 after acquiring an additional 2,924,470 shares during the period. Wellington Management Group LLP boosted its position in shares of Cadence Design Systems by 218.6% in the fourth quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock valued at $798,087,000 after acquiring an additional 1,751,927 shares during the period. Scge Management L.P. acquired a new stake in shares of Cadence Design Systems in the second quarter worth $187,663,000. Finally, Amundi increased its position in Cadence Design Systems by 32.8% during the fourth quarter. Amundi now owns 1,984,842 shares of the software maker’s stock worth $620,430,000 after acquiring an additional 489,930 shares during the period. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Down 2.2%

Shares of CDNS stock opened at $337.01 on Thursday. The stock has a market cap of $92.95 billion, a P/E ratio of 78.56, a price-to-earnings-growth ratio of 4.08 and a beta of 1.15. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The stock has a fifty day moving average price of $374.79 and a 200 day moving average price of $329.15. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.57 earnings per share. 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. Analysts predict that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their target price on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Thursday, July 2nd. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a report on Tuesday, April 28th. KeyCorp upped their price objective on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Finally, Robert W. Baird increased their target price on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Buying and Selling at Cadence Design Systems

In related news, Director James D. Plummer sold 1,511 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $381.34, for a total value of $576,204.74. Following the sale, the director owned 23,264 shares of the company’s stock, valued at $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the completion of the sale, the director directly owned 8,004 shares in the company, valued at approximately $3,101,149.80. The trade was a 2.20% 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 157,057 shares of company stock worth $60,272,277 in the last 90 days. 0.49% of the stock is currently owned by insiders.

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.