ABN AMRO Bank N.V. Reduces Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• ABN AMRO Bank N.V. reduced its Cadence Design Systems stake by 5.2% in the fourth quarter, selling 5,756 shares and leaving it with 105,739 shares worth about $33.2 million.
• Cadence also saw insider selling, including CFO John M. Wall and VP Paul Cunningham, with insiders selling a total of 40,180 shares over the last quarter under pre-arranged trading plans.
• The company recently beat quarterly earnings expectations, reporting $1.96 EPS versus $1.91 expected and 18.6% revenue growth, while analysts remain broadly positive with a consensus rating of Moderate Buy and a price target around $380.59.

ABN AMRO Bank N.V. decreased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,739 shares of the software maker's stock after selling 5,756 shares during the period. ABN AMRO Bank N.V.'s holdings in Cadence Design Systems were worth $33,191,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock worth $456,000 after purchasing an additional 676 shares during the period. Integrated Wealth Concepts LLC boosted its position in shares of Cadence Design Systems by 3.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker's stock worth $560,000 after purchasing an additional 80 shares during the period. Thompson Davis & CO. Inc. purchased a new position in shares of Cadence Design Systems during the 2nd quarter worth approximately $205,000. NewEdge Advisors LLC boosted its position in shares of Cadence Design Systems by 39.3% during the 2nd quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker's stock worth $10,720,000 after purchasing an additional 9,807 shares during the period. Finally, Glenview Trust co purchased a new position in shares of Cadence Design Systems during the 2nd quarter worth approximately $226,000. Hedge funds and other institutional investors own 84.85% of the company's stock.

Insider Activity

In other news, CFO John M. Wall sold 5,000 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $348.71, for a total value of $1,743,550.00. Following the sale, the chief financial officer directly owned 81,875 shares in the company, valued at approximately $28,550,631.25. This trade represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $337.49, for a total transaction of $337,490.00. Following the completion of the sale, the vice president owned 127,586 shares in the company, valued at $43,058,999.14. The trade was a 0.78% 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 40,180 shares of company stock valued at $12,924,790 over the last quarter. Company insiders own 0.49% of the company's stock.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of research analyst reports. Citigroup increased their price objective on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Wells Fargo & Company increased their price objective on shares of Cadence Design Systems from $375.00 to $400.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, April 28th. KeyCorp increased their price objective on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $360.00 price objective on shares of Cadence Design Systems in a research report on Friday, April 24th. Fourteen investment 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $380.59.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $362.70 on Monday. 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 52 week low of $262.75 and a 52 week high of $376.45. The stock has a market capitalization of $100.04 billion, a PE ratio of 84.55, a P/E/G ratio of 4.29 and a beta of 1.13. The firm has a 50 day moving average of $300.45 and a two-hundred day moving average of $309.70.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.46 billion. During the same period last year, the business earned $1.57 EPS. The company'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, research analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

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.

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