Coatue Management LLC Trims Position in Cadence Design Systems, Inc. $CDNS

Coatue Management LLC lowered its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 33.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 472,212 shares of the software maker’s stock after selling 235,725 shares during the quarter. Coatue Management LLC owned approximately 0.17% of Cadence Design Systems worth $165,869,000 as of its most recent filing with the SEC.

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

Insider Activity at Cadence Design Systems

In other news, CFO John M. Wall sold 27,805 shares of Cadence Design Systems stock in a transaction that occurred on 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 sale, the chief financial officer owned 69,957 shares in the company, valued at $22,286,201.49. This trade represents a 28.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $297.78, for a total transaction of $297,780.00. Following the transaction, the vice president directly owned 94,137 shares in the company, valued at approximately $28,032,115.86. The trade was a 1.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,810 shares of company stock worth $9,767,972 over the last three months. 1.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CDNS shares. Oppenheimer raised Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price target on the stock in a research note on Monday, December 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Citigroup began coverage on shares of Cadence Design Systems in a report on Monday, November 24th. They set a “buy” rating and a $385.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $360.00 target price on shares of Cadence Design Systems in a research report on Thursday, February 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a report on Wednesday, February 18th. Fifteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average target price of $376.50.

Cadence Design Systems Stock Performance

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

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 company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the firm posted $1.88 earnings per share. The firm’s quarterly 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. As a group, equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

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.