Sands Capital Management LLC Decreases Holdings in Cadence Design Systems, Inc. $CDNS

Sands Capital Management LLC trimmed its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 24.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 252,008 shares of the software maker’s stock after selling 79,879 shares during the quarter. Sands Capital Management LLC owned 0.09% of Cadence Design Systems worth $78,773,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CDNS. Norges Bank purchased a new position in shares of Cadence Design Systems in the fourth quarter worth $1,352,922,000. Assenagon Asset Management S.A. increased its stake in shares of Cadence Design Systems by 120.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker’s stock worth $351,470,000 after buying an additional 615,440 shares during the period. Scge Management L.P. purchased a new position in shares of Cadence Design Systems in the second quarter worth $187,663,000. Invesco Ltd. increased its stake in shares of Cadence Design Systems by 20.4% in the third quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker’s stock worth $1,033,669,000 after buying an additional 499,009 shares during the period. Finally, Close Asset Management Ltd increased its stake in shares of Cadence Design Systems by 577.5% in the third quarter. Close Asset Management Ltd now owns 566,679 shares of the software maker’s stock worth $199,088,000 after buying an additional 483,039 shares during the period. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Paul Scannell sold 7,081 shares of the business’s 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 sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the sale, the director owned 8,004 shares in the company, valued at approximately $3,101,149.80. This trade represents a 2.20% 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 have sold a total of 176,226 shares of company stock valued at $65,900,542 over the last quarter. 0.49% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CDNS has been the topic of several analyst reports. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a research note on Wednesday, May 27th. KeyCorp lifted their target price on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Citigroup lifted their target price 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. Piper Sandler lifted their price target on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Finally, Wells Fargo & Company lifted their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Fourteen equities 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $386.59.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $384.96 on Monday. The stock has a market cap of $106.18 billion, a P/E ratio of 89.73, a price-to-earnings-growth ratio of 4.56 and a beta of 1.15. The firm’s fifty day simple moving average is $344.32 and its 200 day simple moving average is $318.83. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. 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 (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.05. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.57 earnings per share. 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. As a group, research analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

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.