Coatue Management LLC Decreases Stake in Cadence Design Systems, Inc. $CDNS

Coatue Management LLC cut its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 33.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 472,212 shares of the software maker’s stock after selling 235,725 shares during the period. Coatue Management LLC’s holdings in Cadence Design Systems were worth $165,869,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Y.D. More Investments Ltd acquired a new position in shares of Cadence Design Systems in the third quarter worth about $26,000. Caitlin John LLC acquired a new stake in Cadence Design Systems during the 3rd quarter valued at approximately $29,000. Imprint Wealth LLC acquired a new stake in Cadence Design Systems during the 3rd quarter valued at approximately $31,000. Strategic Wealth Investment Group LLC purchased a new stake in Cadence Design Systems during the 2nd quarter worth approximately $32,000. Finally, Promus Capital LLC purchased a new stake in Cadence Design Systems during the 2nd quarter worth approximately $33,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Trading Down 1.1%

Shares of NASDAQ CDNS opened at $287.03 on Friday. The company has a market cap of $78.26 billion, a price-to-earnings ratio of 70.70, a price-to-earnings-growth ratio of 3.45 and a beta of 1.00. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The company has a current ratio of 2.86, a quick ratio of 2.67 and a debt-to-equity ratio of 0.45. The stock’s 50 day simple moving average is $301.94 and its 200 day simple moving average is $322.12.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Tuesday, February 17th. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.08. Cadence Design Systems had a return on equity of 29.34% and a net margin of 20.93%.The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the business earned $1.88 EPS. The firm’s revenue was up 6.2% on a year-over-year basis. Cadence Design Systems has set its Q1 2026 guidance at 1.890-1.950 EPS and its FY 2026 guidance at 8.050-8.150 EPS. Equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CDNS shares. Stifel Nicolaus set a $395.00 target price on Cadence Design Systems in a research note on Wednesday, February 18th. Piper Sandler dropped their price target on shares of Cadence Design Systems from $355.00 to $319.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Needham & Company LLC reissued a “buy” rating and set a $390.00 price objective on shares of Cadence Design Systems in a report on Wednesday, February 18th. Finally, Wells Fargo & Company dropped their target price on shares of Cadence Design Systems from $410.00 to $375.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $376.50.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $297.78, for a total value of $297,780.00. Following the sale, the vice president directly owned 94,137 shares in the company, valued at $28,032,115.86. This trade represents a 1.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John M. Wall sold 27,805 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the transaction, the chief financial officer directly owned 69,957 shares of the company’s stock, valued at $22,286,201.49. The trade was a 28.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 30,810 shares of company stock valued at $9,767,972. Corporate insiders own 1.99% of the company’s stock.

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.