Assenagon Asset Management S.A. Sells 900,279 Shares of Cadence Design Systems, Inc. $CDNS

Assenagon Asset Management S.A. lessened its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 80.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 224,138 shares of the software maker’s stock after selling 900,279 shares during the period. Assenagon Asset Management S.A.’s holdings in Cadence Design Systems were worth $62,281,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CDNS. University of Texas Texas AM Investment Management Co. purchased a new stake in Cadence Design Systems during the 4th quarter valued at $28,000. Caitlin John LLC purchased a new position in shares of Cadence Design Systems in the third quarter valued at about $29,000. Swiss RE Ltd. purchased a new position in shares of Cadence Design Systems in the fourth quarter valued at about $29,000. Lodestone Wealth Management LLC bought a new position in shares of Cadence Design Systems during the fourth quarter valued at about $30,000. Finally, Imprint Wealth LLC bought a new position in shares of Cadence Design Systems during the third quarter valued at about $31,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Trading Down 1.1%

Shares of CDNS opened at $368.23 on Friday. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. 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’s 50-day moving average price is $362.77 and its 200-day moving average price is $322.98. The firm has a market capitalization of $101.57 billion, a price-to-earnings ratio of 85.83, a PEG ratio of 4.41 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping the consensus estimate of $1.91 by $0.05. The business had revenue of $1.47 billion during 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 quarterly revenue was up 18.6% compared to the same quarter last year. During the same period last 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. Sell-side analysts anticipate that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Insider Activity at Cadence Design Systems

In related news, Director James D. Plummer sold 1,511 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the sale, the director directly owned 23,264 shares of the company’s stock, valued at $8,871,493.76. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $391.00, for a total value of $782,000.00. Following the completion of the transaction, the vice president owned 126,586 shares of the company’s stock, valued at approximately $49,495,126. This trade represents a 1.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 179,557 shares of company stock valued at $67,205,642 over the last ninety days. Insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the topic of several recent analyst reports. Piper Sandler raised their target price on Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a report on Wednesday, May 27th. Stifel Nicolaus lifted their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $360.00 target price on shares of Cadence Design Systems in a research note on Friday, April 24th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and an average target price of $386.59.

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.