Swedbank AB Cuts Holdings in Cadence Design Systems, Inc. $CDNS

Swedbank AB lessened its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 8.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,835,744 shares of the software maker’s stock after selling 175,094 shares during the quarter. Swedbank AB owned 0.66% of Cadence Design Systems worth $510,098,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CDNS. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Cadence Design Systems by 3.1% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker’s stock worth $287,000 after purchasing an additional 31 shares during the last quarter. Westfuller Advisors LLC increased its holdings in Cadence Design Systems by 8.2% in the first quarter. Westfuller Advisors LLC now owns 408 shares of the software maker’s stock valued at $113,000 after buying an additional 31 shares during the last quarter. Spirepoint Private Client LLC raised its stake in Cadence Design Systems by 4.6% in the fourth quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker’s stock valued at $226,000 after buying an additional 32 shares in the last quarter. Townsquare Capital LLC raised its stake in Cadence Design Systems by 3.6% in the fourth quarter. Townsquare Capital LLC now owns 977 shares of the software maker’s stock valued at $305,000 after buying an additional 34 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in Cadence Design Systems by 3.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,079 shares of the software maker’s stock worth $379,000 after buying an additional 35 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CDNS has been the subject of several analyst reports. Citigroup upped their price objective on Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a research report on Wednesday, May 27th. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, April 28th. Finally, KeyCorp increased their price target on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $386.59.

Cadence Design Systems Stock Performance

CDNS traded down $5.97 on Tuesday, reaching $369.80. The company had a trading volume of 359,955 shares, compared to its average volume of 2,490,867. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The stock has a market capitalization of $102.00 billion, a PE ratio of 86.28, a P/E/G ratio of 4.42 and a beta of 1.15. The stock has a 50-day moving average price of $371.02 and a 200-day moving average price of $325.22.

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

Insider Activity

In other Cadence Design Systems news, Director James D. Plummer sold 1,511 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the completion of the sale, the director owned 23,264 shares in the company, valued at approximately $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 10,500 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $339.00, for a total value of $3,559,500.00. Following the completion of the sale, the vice president directly owned 33,946 shares of the company’s stock, valued at $11,507,694. The trade was a 23.62% 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. Insiders have sold a total of 178,557 shares of company stock worth $66,925,452 over the last ninety days. 0.49% of the stock is owned by corporate insiders.

Cadence Design Systems 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.