Cadence Design Systems, Inc. $CDNS Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership trimmed its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 443,219 shares of the software maker’s stock after selling 44,002 shares during the period. Artisan Partners Limited Partnership owned 0.16% of Cadence Design Systems worth $155,685,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CDNS. Norges Bank acquired a new stake in Cadence Design Systems during the second quarter worth about $1,190,618,000. Massachusetts Financial Services Co. MA raised its position in shares of Cadence Design Systems by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock worth $1,866,739,000 after purchasing an additional 731,788 shares during the period. Voya Investment Management LLC raised its position in shares of Cadence Design Systems by 914.2% during the 3rd quarter. Voya Investment Management LLC now owns 691,071 shares of the software maker’s stock worth $242,746,000 after purchasing an additional 622,934 shares during the period. Scge Management L.P. bought a new stake in shares of Cadence Design Systems in the 2nd quarter worth approximately $187,663,000. Finally, Close Asset Management Ltd boosted its position in Cadence Design Systems by 577.5% during the 3rd quarter. Close Asset Management Ltd now owns 566,679 shares of the software maker’s stock valued at $199,088,000 after purchasing an additional 483,039 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Trading Down 1.4%

Cadence Design Systems stock opened at $297.60 on Friday. The company has a 50 day moving average price of $305.98 and a 200 day moving average price of $326.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.67 and a current ratio of 2.86. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The firm has a market capitalization of $81.14 billion, a price-to-earnings ratio of 73.30, a P/E/G ratio of 3.61 and a beta of 1.01.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Tuesday, February 17th. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.08. Cadence Design Systems had a return on equity of 29.34% and a net margin of 20.93%.The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the company earned $1.88 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Cadence Design Systems has set its Q1 2026 guidance at 1.890-1.950 EPS and its FY 2026 guidance at 8.050-8.150 EPS. Research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Activity

In other Cadence Design Systems news, CEO Anirudh Devgan sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $340.00, for a total value of $6,800,000.00. Following the transaction, the chief executive officer owned 195,844 shares in the company, valued at approximately $66,586,960. This represents a 9.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $295.09, for a total transaction of $295,090.00. Following the completion of the sale, the vice president owned 95,137 shares of the company’s stock, valued at approximately $28,073,977.33. The trade was a 1.04% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 56,475 shares of company stock worth $18,505,486. Corporate insiders own 1.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the topic of several analyst reports. Piper Sandler dropped their target price on Cadence Design Systems from $355.00 to $319.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a report on Monday, December 29th. Needham & Company LLC reiterated a “buy” rating and issued a $390.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, February 18th. Rosenblatt Securities restated a “buy” rating and issued a $360.00 target price on shares of Cadence Design Systems in a research report on Thursday. Finally, Morgan Stanley dropped their price target on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average price target of $376.50.

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.