ABN AMRO Bank N.V. Trims Stake in Cadence Design Systems, Inc. $CDNS

Key Points

• ABN AMRO Bank N.V. reduced its Cadence Design Systems stake by 4.1% in the first quarter, selling 4,303 shares and ending with 101,436 shares worth about $27.78 million.
• Insiders have been selling shares recently, including VP Paul Cunningham and Director James D. Plummer; over the past three months, insiders sold 179,557 shares valued at about $67.2 million.
• Despite the selling, analysts remain generally positive on CDNS, with 14 Buy ratings and a consensus Moderate Buy target of $386.59; the company also recently beat quarterly EPS and revenue estimates.

ABN AMRO Bank N.V. cut its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,436 shares of the software maker's stock after selling 4,303 shares during the quarter. ABN AMRO Bank N.V.'s holdings in Cadence Design Systems were worth $27,780,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Cadence Design Systems by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker's stock valued at $8,511,888,000 after acquiring an additional 307,753 shares during the period. State Street Corp grew its position in shares of Cadence Design Systems by 1.1% during the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker's stock worth $3,939,561,000 after acquiring an additional 135,206 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cadence Design Systems by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker's stock valued at $2,378,707,000 after acquiring an additional 92,152 shares during the period. Norges Bank acquired a new position in shares of Cadence Design Systems in the 4th quarter valued at $1,352,922,000. Finally, Van ECK Associates Corp raised its position in Cadence Design Systems by 11.9% in the 4th quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker's stock valued at $1,104,714,000 after purchasing an additional 376,654 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 2,000 shares of the stock in a transaction dated Monday, June 15th. The shares were 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 of the company's stock, valued at approximately $49,495,126. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total transaction of $576,204.74. Following the sale, the director owned 23,264 shares of the company's stock, valued at approximately $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 179,557 shares of company stock valued at $67,205,642. 0.49% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CDNS has been the subject of a number of recent research reports. Piper Sandler increased their price target on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 target price on shares of Cadence Design Systems in a report on Tuesday, April 28th. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a report on Wednesday, May 27th. Citigroup increased their target price on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Finally, Robert W. Baird raised their price target on Cadence Design Systems from $381.00 to $385.00 and gave the stock an "outperform" rating in a report on Tuesday, April 28th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $386.59.

Cadence Design Systems Stock Up 2.5%

Shares of NASDAQ:CDNS opened at $377.27 on Friday. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week 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. The firm's 50-day simple moving average is $364.23 and its 200-day simple moving average is $323.36. The company has a market cap of $104.06 billion, a price-to-earnings ratio of 87.94, a PEG ratio of 4.47 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released 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. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.Cadence Design Systems's revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $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. As a group, equities research analysts predict that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

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.

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