First Trust Advisors LP Sells 104,187 Shares of Cadence Design Systems, Inc. $CDNS

First Trust Advisors LP lessened its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 17.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 497,625 shares of the software maker’s stock after selling 104,187 shares during the quarter. First Trust Advisors LP owned approximately 0.18% of Cadence Design Systems worth $138,275,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in Cadence Design Systems during the 4th quarter worth $1,352,922,000. J. Stern & Co. LLP raised its holdings 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 purchasing an additional 2,924,470 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Cadence Design Systems by 218.6% during 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 purchasing an additional 1,751,927 shares in the last quarter. Scge Management L.P. purchased a new position in Cadence Design Systems during the second quarter worth about $187,663,000. Finally, Temasek Holdings Private Ltd grew its position in Cadence Design Systems by 319.5% in the 1st quarter. Temasek Holdings Private Ltd now owns 749,113 shares of the software maker’s stock worth $208,156,000 after purchasing an additional 570,537 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $330.46 on Friday. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The business has a fifty day simple moving average of $374.34 and a two-hundred day simple moving average of $329.29. The company has a market capitalization of $91.15 billion, a P/E ratio of 77.03, a P/E/G ratio of 3.99 and a beta of 1.15. 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 earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.05. The firm had revenue of $1.47 billion during 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 company’s revenue was up 18.6% on a year-over-year basis. During the same quarter last 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. On average, analysts expect that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Insider Activity

In related news, VP Paul Cunningham sold 2,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $391.00, for a total transaction of $782,000.00. Following the sale, the vice president directly owned 126,586 shares in the company, valued at approximately $49,495,126. The trade was a 1.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the transaction, 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 157,057 shares of company stock valued at $60,272,277. 0.49% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Robert W. Baird increased their price objective 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. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a research note on Wednesday, May 27th. Rosenblatt Securities upped their target price on Cadence Design Systems from $375.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Finally, Stifel Nicolaus boosted their price objective 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 analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

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.