CIBC Asset Management Inc Grows Position in Cadence Design Systems, Inc. $CDNS

Key Points

• CIBC Asset Management increased its Cadence Design Systems stake by 26.7% in Q4, buying 28,996 more shares and lifting its holdings to 137,487 shares worth about $43 million.
• Insider selling weighed on sentiment, with CEO Anirudh Devgan and VP Paul Scannell both selling shares in pre-arranged 10b5-1 transactions; insiders sold about 176,046 shares worth $65.8 million over the past three months.
• Cadence reported strong quarterly results, beating EPS and revenue estimates, and raised guidance for FY2026 and Q2 2026. Analysts remain broadly positive, with 14 Buy ratings and a consensus price target of $384.41, though the stock recently traded near its 52-week high.

CIBC Asset Management Inc increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 26.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 137,487 shares of the software maker's stock after buying an additional 28,996 shares during the quarter. CIBC Asset Management Inc owned about 0.05% of Cadence Design Systems worth $42,976,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Marble Wealth LLC purchased a new position in shares of Cadence Design Systems in the 4th quarter valued at approximately $202,000. Kesler Norman & Wride LLC purchased a new position in shares of Cadence Design Systems in the 4th quarter valued at approximately $452,000. Bridges Investment Management Inc. grew its stake in shares of Cadence Design Systems by 0.3% in the 4th quarter. Bridges Investment Management Inc. now owns 172,894 shares of the software maker's stock valued at $54,043,000 after purchasing an additional 490 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Cadence Design Systems in the 4th quarter valued at approximately $313,000. Finally, Vantus Wealth LLC purchased a new position in shares of Cadence Design Systems in the 4th quarter valued at approximately $276,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cadence Design Systems news, CEO Anirudh Devgan sold 25,005 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 253,519 shares of the company's stock, valued at approximately $105,210,385. The trade was a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 7,081 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $393.91, for a total value of $2,789,276.71. Following the sale, the vice president directly owned 32,181 shares of the company's stock, valued at approximately $12,676,417.71. This trade represents a 18.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 176,046 shares of company stock worth $65,830,801 in the last three months. Company 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 Stock Performance

Shares of CDNS stock opened at $408.00 on Thursday. The stock has a fifty day moving average price of $328.72 and a 200 day moving average price of $314.72. The stock has a market cap of $112.53 billion, a PE ratio of 95.11, a P/E/G ratio of 4.93 and a beta of 1.15. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.91 by $0.05. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The business's revenue for the quarter was up 18.6% compared to the same quarter last year. 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 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on CDNS shares. Wells Fargo & Company lifted their target price on Cadence Design Systems from $400.00 to $425.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a research note on Wednesday, May 27th. Morgan Stanley lowered their target price on Cadence Design Systems from $385.00 to $370.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 18th. Robert W. Baird raised their price target on Cadence Design Systems from $381.00 to $385.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Finally, Citigroup raised their price target on 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 issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $384.41.

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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