Cadence Design Systems, Inc. $CDNS Shares Sold by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd lessened its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 13.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,446 shares of the software maker’s stock after selling 6,026 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Cadence Design Systems were worth $12,643,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CDNS. Brighton Jones LLC increased its holdings in shares of Cadence Design Systems by 80.2% in the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock valued at $456,000 after acquiring an additional 676 shares during the period. Integrated Wealth Concepts LLC increased its stake in Cadence Design Systems by 3.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock valued at $560,000 after purchasing an additional 80 shares during the period. Thompson Davis & CO. Inc. acquired a new position in Cadence Design Systems in the second quarter valued at $205,000. NewEdge Advisors LLC raised its holdings in shares of Cadence Design Systems by 39.3% in the second quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock valued at $10,720,000 after buying an additional 9,807 shares during the last quarter. Finally, Glenview Trust co acquired a new stake in shares of Cadence Design Systems during the second quarter worth about $226,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CDNS has been the subject of several analyst reports. Stifel Nicolaus increased their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, April 28th. KeyCorp increased their price objective on Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” 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 company a “neutral” rating in a report on Tuesday, April 28th. Finally, Citigroup upped their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Fourteen investment 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, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $386.59.

Cadence Design Systems Stock Down 1.7%

Shares of NASDAQ:CDNS opened at $387.85 on Wednesday. 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 cap of $106.98 billion, a price-to-earnings ratio of 90.41, a PEG ratio of 4.67 and a beta of 1.15. The stock’s 50-day moving average price is $348.82 and its two-hundred day moving average price is $320.05. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. The company had revenue of $1.47 billion for 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 for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the business earned $1.57 EPS. 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. On average, research analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Insider Activity

In related news, VP Paul Scannell sold 7,081 shares of Cadence Design Systems stock in a transaction on Monday, June 1st. The shares were sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the transaction, the vice president owned 32,181 shares in the company, valued at approximately $12,676,417.71. The trade was a 18.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the company’s stock in a transaction on 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 sale, the chief executive officer directly owned 253,519 shares of the company’s stock, valued at approximately $105,210,385. This trade represents a 8.98% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 177,557 shares of company stock worth $66,423,642. Insiders own 0.49% of the company’s stock.

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.