Spyglass Capital Management LLC Has $40.74 Million Stake in Cadence Design Systems, Inc. $CDNS

Spyglass Capital Management LLC lowered its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 115,969 shares of the software maker’s stock after selling 12,566 shares during the period. Cadence Design Systems comprises about 2.2% of Spyglass Capital Management LLC’s portfolio, making the stock its 22nd biggest position. Spyglass Capital Management LLC’s holdings in Cadence Design Systems were worth $40,735,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Cadence Design Systems by 1.2% during the third quarter. Vanguard Group Inc. now owns 26,923,317 shares of the software maker’s stock valued at $9,457,084,000 after purchasing an additional 327,456 shares in the last quarter. State Street Corp grew its holdings in shares of Cadence Design Systems by 1.4% during the second quarter. State Street Corp now owns 12,318,585 shares of the software maker’s stock worth $3,795,972,000 after purchasing an additional 172,551 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Cadence Design Systems by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock valued at $1,866,739,000 after buying an additional 731,788 shares during the period. Norges Bank bought a new position in Cadence Design Systems in the 2nd quarter valued at approximately $1,190,618,000. Finally, Invesco Ltd. raised its holdings in Cadence Design Systems by 20.4% in the 3rd quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker’s stock valued at $1,033,669,000 after buying an additional 499,009 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $390.00 target price on shares of Cadence Design Systems in a report on Wednesday, February 18th. Oppenheimer raised shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price target for the company in a research note on Monday, December 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a report on Monday, December 29th. Stifel Nicolaus set a $395.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, February 18th. Finally, Citigroup assumed coverage on Cadence Design Systems in a report on Monday, November 24th. They issued a “buy” rating and a $385.00 price objective for the company. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus price target of $376.50.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $287.03 on Friday. The stock has a market capitalization of $78.26 billion, a PE ratio of 70.70, a PEG ratio of 3.48 and a beta of 1.00. The business’s 50 day simple moving average is $301.94 and its 200 day simple moving average is $322.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.86 and a quick ratio of 2.67. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Tuesday, February 17th. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.08. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. Cadence Design Systems had a net margin of 20.93% and a return on equity of 29.34%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.88 EPS. 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. As a group, research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Buying and Selling at Cadence Design Systems

In related news, CFO John M. Wall sold 27,805 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total value of $8,857,838.85. Following the transaction, the chief financial officer owned 69,957 shares in the company, valued at $22,286,201.49. The trade was a 28.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $297.78, for a total transaction of $297,780.00. Following the sale, the vice president directly owned 94,137 shares in the company, valued at $28,032,115.86. This trade represents a 1.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 30,810 shares of company stock valued at $9,767,972. 1.99% of the stock is currently owned by corporate 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.