Pictet Asset Management Holding SA Reduces Holdings in Cadence Design Systems, Inc. $CDNS

Pictet Asset Management Holding SA reduced its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 18.3% in the 1st quarter, Holdings Channel reports. The firm owned 1,247,222 shares of the software maker’s stock after selling 279,759 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Cadence Design Systems were worth $346,566,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc increased its holdings in shares of Cadence Design Systems by 113.9% in the fourth quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock valued at $3,488,000 after purchasing an additional 5,943 shares during the last quarter. Sun Financial Inc acquired a new position in Cadence Design Systems during the fourth quarter worth $1,225,000. DDD Partners LLC grew its holdings in Cadence Design Systems by 27.4% in the 4th quarter. DDD Partners LLC now owns 41,968 shares of the software maker’s stock valued at $13,118,000 after buying an additional 9,024 shares in the last quarter. Leonteq Securities AG purchased a new stake in Cadence Design Systems in the 4th quarter valued at $1,105,000. Finally, Allianz SE acquired a new stake in shares of Cadence Design Systems in the 3rd quarter worth $1,265,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 21,500 shares of the stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $309.45, for a total transaction of $6,653,175.00. Following the completion of the transaction, the chief financial officer owned 86,875 shares of the company’s stock, valued at $26,883,468.75. This trade represents a 19.84% 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, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $391.00, for a total transaction of $782,000.00. Following the sale, the vice president owned 126,586 shares of the company’s stock, valued at approximately $49,495,126. This represents a 1.56% decrease in their ownership of the stock. 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 have sold a total of 179,557 shares of company stock valued at $67,205,642 over the last quarter. 0.49% of the stock is owned by insiders.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $377.27 on Friday. The firm has a market cap of $104.06 billion, a PE ratio of 87.94, a price-to-earnings-growth ratio of 4.47 and a beta of 1.15. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The business’s fifty day simple moving average is $364.23 and its 200-day simple moving average is $323.36.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the company 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. Equities analysts forecast that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CDNS. Stifel Nicolaus lifted their price target on Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Citigroup raised their price objective on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Piper Sandler lifted their target price on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $360.00 target price on shares of Cadence Design Systems in a report on Friday, April 24th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Fourteen 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.com, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and an average target price of $386.59.

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.