BI Asset Management Fondsmaeglerselskab A S Sells 10,611 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its stake in Cadence Design Systems by 53.0% in the first quarter, selling 10,611 shares and leaving it with 9,396 shares worth about $2.61 million.
• Analysts remain mostly positive on Cadence Design Systems, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus rating. Overall, 14 analysts rate it Buy and three rate it Hold, with an average target price of $386.59.
• Cadence reported better-than-expected quarterly results, posting EPS of $1.96 and revenue of $1.47 billion, while also raising guidance for FY 2026 and Q2 2026. The stock was trading at $379.06 and remains near its 52-week high.

BI Asset Management Fondsmaeglerselskab A S cut its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 53.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,396 shares of the software maker's stock after selling 10,611 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Cadence Design Systems were worth $2,611,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc boosted its holdings in Cadence Design Systems by 113.9% in the 4th quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker's stock worth $3,488,000 after buying an additional 5,943 shares during the period. Sun Financial Inc bought a new stake in Cadence Design Systems during the 4th quarter valued at $1,225,000. DDD Partners LLC lifted its position in shares of Cadence Design Systems by 27.4% during the fourth quarter. DDD Partners LLC now owns 41,968 shares of the software maker's stock worth $13,118,000 after acquiring an additional 9,024 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Cadence Design Systems during the fourth quarter worth $1,105,000. Finally, Allianz SE bought a new position in shares of Cadence Design Systems in the third quarter worth $1,265,000. Hedge funds and other institutional investors own 84.85% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Robert W. Baird lifted 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. Piper Sandler raised their target price on Cadence Design Systems from $319.00 to $325.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 28th. Citigroup lifted their target price on Cadence Design Systems from $385.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Wells Fargo & Company upped their price target on Cadence Design Systems from $400.00 to $425.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, April 28th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Cadence Design Systems has a consensus rating of "Moderate Buy" and an average price target of $386.59.

Insider Transactions at Cadence Design Systems

In related news, VP Paul Scannell sold 10,500 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $339.00, for a total value of $3,559,500.00. Following the transaction, the vice president owned 33,946 shares of the company's stock, valued at $11,507,694. This represents a 23.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 firm's 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 transaction, the vice president directly owned 126,586 shares in the company, valued at approximately $49,495,126. This represents a 1.56% 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 ninety days, insiders have sold 179,557 shares of company stock worth $67,205,642. Company insiders own 0.49% of the company's stock.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $379.06 on Wednesday. The stock has a market cap of $104.55 billion, a P/E ratio of 88.36, a PEG ratio of 4.60 and a beta of 1.15. 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 business's 50-day moving average price is $359.57 and its two-hundred day moving average price is $322.52. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69.

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 the consensus estimate of $1.91 by $0.05. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $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 analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

About Cadence Design Systems

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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