Illinois Municipal Retirement Fund Has $7.70 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Illinois Municipal Retirement Fund lowered its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 13.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,712 shares of the software maker’s stock after selling 4,153 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Cadence Design Systems were worth $7,700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Whipplewood Advisors LLC lifted its position in shares of Cadence Design Systems by 933.3% in the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares in the last quarter. Brown Lisle Cummings Inc. boosted its stake in Cadence Design Systems by 860.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in Cadence Design Systems during the 4th quarter worth approximately $28,000. Swiss RE Ltd. acquired a new stake in Cadence Design Systems during the 4th quarter valued at $29,000. Finally, Lodestone Wealth Management LLC acquired a new stake in Cadence Design Systems during the 4th quarter valued at $30,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CDNS. Wells Fargo & Company raised their target price on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Robert W. Baird upped their price target on Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Piper Sandler raised their price objective on Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Cadence Design Systems Stock Down 9.5%

CDNS stock opened at $330.11 on Friday. The company has a 50 day moving average of $376.09 and a two-hundred day moving average of $328.57. The company has a market cap of $91.05 billion, a price-to-earnings ratio of 76.95, a PEG ratio of 4.32 and a beta of 1.15. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. 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 (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating the consensus estimate of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the company posted $1.57 EPS. Cadence Design Systems’s revenue was up 18.6% on a year-over-year basis. 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, equities analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Cadence Design Systems News Summary

Here are the key news stories impacting Cadence Design Systems this week:

• Positive Sentiment: Benchmark upgraded Cadence to Strong Buy, and recent brokerage commentary put the average price target around $387, indicating Wall Street still sees upside from current levels. Zacks.com
• Positive Sentiment: Cadence recently launched new AI products, including the AuraStack AI Super Agent for PCB and advanced packaging design, reinforcing the company’s growth narrative in AI-driven design workflows. Business Wire article
• Positive Sentiment: The company also announced a partnership with Rapidus to advance agentic AI for advanced SoC design, which could support longer-term demand for Cadence’s software tools. Business Wire article
• Neutral Sentiment: Cadence is due to report second-quarter results on July 27, and some of the weakness may reflect investors taking profits or reducing exposure ahead of earnings. MSN article
• Negative Sentiment: Shares are also being hit by broader fears that Moonshot and other AI-driven tools could disrupt the EDA industry, pressuring Cadence and peers like Synopsys on concerns about future pricing power and competition. MSN article

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $348.71, for a total value of $1,743,550.00. Following the transaction, the chief financial officer owned 81,875 shares in the company, valued at $28,550,631.25. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $391.00, for a total value of $782,000.00. Following the completion of the transaction, 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 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. Over the last ninety days, insiders have sold 157,057 shares of company stock valued at $60,272,277. Corporate insiders own 0.49% of the company’s stock.

Cadence Design Systems Company 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.