Cadence Design Systems, Inc. $CDNS Shares Sold by Securian Asset Management Inc.

Key Points

• Securian Asset Management reduced its stake in Cadence Design Systems by 43.5% in the fourth quarter, selling 5,704 shares and leaving it with 7,402 shares worth about $2.314 million.
• Cadence reported better-than-expected Q1 results, with earnings of $1.96 per share and revenue of $1.47 billion, both slightly ahead of analyst estimates. Revenue rose 18.6% year over year, and the company raised guidance for FY2026 and Q2 2026.
• Despite insider selling and some mixed ownership changes, Wall Street remains upbeat: several analysts raised price targets to $400, and the stock has a consensus rating of Moderate Buy with an average target of $380.59.

Securian Asset Management Inc. trimmed its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 43.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,402 shares of the software maker's stock after selling 5,704 shares during the period. Securian Asset Management Inc.'s holdings in Cadence Design Systems were worth $2,314,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Y.D. More Investments Ltd acquired a new stake in shares of Cadence Design Systems in the third quarter valued at about $26,000. Caitlin John LLC acquired a new stake in shares of Cadence Design Systems in the third quarter valued at about $29,000. Imprint Wealth LLC acquired a new stake in shares of Cadence Design Systems in the third quarter valued at about $31,000. Lodestone Wealth Management LLC acquired a new stake in shares of Cadence Design Systems in the fourth quarter valued at about $30,000. Finally, Cloud Capital Management LLC acquired a new stake in shares of Cadence Design Systems in the third quarter valued at about $35,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Trading Up 0.4%

Shares of CDNS opened at $364.20 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $100.45 billion, a P/E ratio of 84.90, a P/E/G ratio of 4.29 and a beta of 1.13. The firm has a 50-day moving average price of $303.00 and a 200 day moving average price of $310.15. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share 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 net margin of 21.18% and a return on equity of 28.44%. Cadence Design Systems's revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the firm 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. Sell-side analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Analysts Set New Price Targets

CDNS has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of Cadence Design Systems from $375.00 to $400.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Rosenblatt Securities reissued a "buy" rating and issued a $360.00 price objective on shares of Cadence Design Systems in a report on Friday, April 24th. Stifel Nicolaus set a $395.00 price objective on shares of Cadence Design Systems in a report on Wednesday, February 18th. Needham & Company LLC reissued a "buy" rating and issued a $400.00 price objective on shares of Cadence Design Systems in a report on Tuesday, April 28th. Finally, Citigroup upped their price objective on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $380.59.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 10,500 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $339.00, for a total transaction of $3,559,500.00. Following the completion of the transaction, the vice president owned 33,946 shares of the company's stock, valued at $11,507,694. This trade represents a 23.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $295.03, for a total transaction of $53,105.40. Following the transaction, the director directly owned 7,470 shares of the company's stock, valued at approximately $2,203,874.10. This trade represents a 2.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 40,180 shares of company stock worth $12,924,790. 0.49% of the stock is owned by corporate insiders.

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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