Cadence Design Systems, Inc. $CDNS Shares Sold by Spyglass Capital Management LLC

Key Points

• Spyglass Capital Management cut its Cadence Design Systems stake by 32.6% in the second quarter, selling 76,012 shares and retaining 157,335 shares valued at approximately $59.1 million. Institutional investors collectively own 84.85% of CDNS.
• Cadence reported second-quarter adjusted earnings of $2.11 per share, exceeding estimates of $2.05, while revenue rose 24.2% year over year to $1.58 billion. The company issued fiscal 2026 EPS guidance of $8.05–$8.15.
• Wall Street remains positive, with 13 analysts rating the stock a Buy and three rating it a Hold; the consensus rating is Moderate Buy with an average price target of $405.69, versus a recent price of $338.78.

Spyglass Capital Management LLC trimmed its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 32.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 157,335 shares of the software maker's stock after selling 76,012 shares during the quarter. Cadence Design Systems makes up 3.2% of Spyglass Capital Management LLC's portfolio, making the stock its 19th biggest holding. Spyglass Capital Management LLC owned 0.06% of Cadence Design Systems worth $59,051,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Cadence Design Systems by 1.1% in the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker's stock worth $3,939,561,000 after buying an additional 135,206 shares in the last quarter. Geode Capital Management LLC grew its stake in 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 last quarter. Van ECK Associates Corp increased its holdings in Cadence Design Systems by 21.8% during the 2nd quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker's stock valued at $1,835,227,000 after acquiring an additional 874,392 shares in the last quarter. Norges Bank purchased a new position in Cadence Design Systems during the 4th quarter valued at about $1,352,922,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Cadence Design Systems by 1.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,385,655 shares of the software maker's stock worth $1,270,704,000 after acquiring an additional 48,937 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Insider Buying and Selling

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,250 shares of Cadence Design Systems stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $320.88, for a total value of $401,100.00. Following the completion of the sale, the director owned 40,794 shares in the company, valued at $13,089,978.72. The trade was a 2.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the transaction, the director directly owned 8,004 shares of the company's stock, valued at approximately $3,101,149.80. This represents a 2.20% decrease in their position. 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 7,221 shares of company stock worth $2,570,606 over the last ninety days. Insiders own 0.49% of the company's stock.

Cadence Design Systems Trading Down 0.5%

Shares of Cadence Design Systems stock opened at $338.78 on Tuesday. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. The business's fifty day moving average is $347.16 and its two-hundred day moving average is $333.84. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. The firm has a market cap of $93.30 billion, a PE ratio of 67.35, a P/E/G ratio of 3.65 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.06. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The business's revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 earnings per share. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. Analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CDNS. Morgan Stanley reaffirmed an "overweight" rating and issued a $400.00 price target on shares of Cadence Design Systems in a report on Wednesday, July 29th. Bank of America raised their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Wells Fargo & Company lifted their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Robert W. Baird upped their target price on Cadence Design Systems from $415.00 to $420.00 and gave the company an "outperform" rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen upgraded Cadence Design Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $405.69.

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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