Bank of New York Mellon Corp Sells 34,571 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Bank of New York Mellon cut its Cadence Design Systems stake by 2% in the fourth quarter, selling 34,571 shares and still holding about 1.68 million shares valued at roughly $525 million.
• Analyst sentiment remains bullish overall, with 14 Buy ratings and 3 Hold ratings on CDNS; the consensus price target is $384.41, reflecting a “Moderate Buy” outlook.
• Insider selling has been notable, including CEO Anirudh Devgan’s sale of 25,005 shares and VP Paul Cunningham’s sale of 1,000 shares, both under pre-arranged 10b5-1 plans.

Bank of New York Mellon Corp trimmed its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,679,419 shares of the software maker's stock after selling 34,571 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.62% of Cadence Design Systems worth $524,953,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd bought a new stake in shares of Cadence Design Systems during the third quarter valued at approximately $26,000. Caitlin John LLC bought a new stake in shares of Cadence Design Systems during the third quarter valued at approximately $29,000. Lodestone Wealth Management LLC bought a new stake in shares of Cadence Design Systems during the fourth quarter valued at approximately $30,000. Imprint Wealth LLC bought a new stake in shares of Cadence Design Systems during the third quarter valued at approximately $31,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Cadence Design Systems during the fourth quarter valued at approximately $32,000. 84.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CDNS has been the topic of several research analyst reports. Stifel Nicolaus set a $395.00 price target on shares of Cadence Design Systems in a research note on Wednesday, February 18th. Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a report on Wednesday, May 27th. Robert W. Baird increased their price objective on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Piper Sandler increased their price objective on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a "neutral" rating in a report on Tuesday, April 28th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $360.00 price objective on shares of Cadence Design Systems in a report on Friday, April 24th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Cadence Design Systems has a consensus rating of "Moderate Buy" and a consensus price target of $384.41.

Insider Activity at Cadence Design Systems

In related news, 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 sale, the vice president directly owned 127,586 shares in the company, valued at $43,058,999.14. This trade represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the sale, the chief executive officer owned 253,519 shares in the company, valued at approximately $105,210,385. The trade was a 8.98% 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. In the last ninety days, insiders have sold 176,046 shares of company stock valued at $65,830,801. Insiders own 0.49% of the company's stock.

Key Stories Impacting Cadence Design Systems

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

• Positive Sentiment: Cadence continues to draw bullish analyst and investor attention, with coverage noting strong long-term prospects and competitive advantages despite recent relative underperformance. Cadence Design Systems Stock: Is CDNS Underperforming the Technology Sector?
• Positive Sentiment: Recent conference appearances by Cadence executives may reinforce investor interest in the company’s strategy and growth outlook. Cadence Design Systems, Inc. (CDNS) Presents at Bank of America 2026 Global Technology Conference Transcript
• Neutral Sentiment: Cadence’s Richard Gu is scheduled to present at a Nasdaq conference, keeping the company visible to investors but not changing fundamentals by itself. Cadence’s Richard Gu to Present at Nasdaq Conference
• Neutral Sentiment: Valuation-focused coverage compared CDNS with Adobe, suggesting investors are still debating whether the stock’s premium valuation is justified. ADBE or CDNS: Which Is the Better Value Stock Right Now?
• Negative Sentiment: CEO Anirudh Devgan sold shares in two separate transactions, and VP Paul Scannell also sold stock; although both sales were made under pre-arranged 10b5-1 plans, insider selling can still weigh on sentiment. SEC filing for Paul Scannell sale SEC filing for Anirudh Devgan sale
• Negative Sentiment: Recent market coverage noted that CDNS fell more than the broader market in the latest session, reinforcing short-term weakness in the share price. Here's Why Cadence Design Systems (CDNS) Fell More Than Broader Market

Cadence Design Systems Trading Down 2.0%

Shares of NASDAQ:CDNS opened at $408.00 on Thursday. 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. The company's fifty day simple moving average is $328.72 and its 200 day simple moving average is $314.72. The firm has a market cap of $112.53 billion, a price-to-earnings ratio of 95.11, a PEG ratio of 4.93 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping 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 posted $1.57 earnings per share. The firm's quarterly 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. As a group, research analysts forecast 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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