Cadence Design Systems, Inc. $CDNS Shares Sold by Spyglass Capital Management LLC

Spyglass Capital Management LLC trimmed its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 14.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 233,347 shares of the software maker’s stock after selling 38,145 shares during the quarter. Cadence Design Systems comprises 4.6% of Spyglass Capital Management LLC’s portfolio, making the stock its 8th biggest holding. Spyglass Capital Management LLC’s holdings in Cadence Design Systems were worth $64,840,000 as of its most recent SEC filing.

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

Cadence Design Systems News Roundup

Here are the key news stories impacting Cadence Design Systems this week:

• Positive Sentiment: Q2 earnings beat expectations: Cadence reported adjusted earnings of $2.11 per share, above the $2.05 consensus estimate. Revenue reached $1.58 billion, up 24.2% year over year and roughly in line with expectations. Cadence Design Systems Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: AI demand lifted the outlook: Management raised its full-year 2026 guidance to approximately $6.3 billion in revenue and $8.05-$8.15 in EPS. Third-quarter EPS guidance of $2.01-$2.07 also exceeds the $1.84 analyst consensus. The company cited robust demand for AI-powered design software, high-performance computing, and broader adoption of its core tools. Cadence raises annual forecasts as demand booms for AI chip design
• Positive Sentiment: Record backlog supports visibility: Reports highlighted an $8.1 billion backlog and anticipated 19% 2026 revenue growth. Expanding partnerships and customer interest in “agentic AI” are increasing usage across Cadence’s design portfolio. Cadence signals 19 percent 2026 revenue growth
• Positive Sentiment: Analyst sentiment improved: Bank of America and Rosenblatt raised their price targets to $420 and assigned buy ratings, while Baird lifted its target to $420 and maintained an outperform rating. Needham reaffirmed its buy rating with a $400 target. Analyst rating updates
• Neutral Sentiment: Valuation remains demanding: Piper Sandler raised its target from $325 to $349 but retained a neutral rating, suggesting limited upside relative to the other analysts’ forecasts. Cadence also trades at a high earnings multiple, leaving the stock sensitive to any slowdown in AI-related spending or future guidance.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CDNS. Piper Sandler boosted their target price on Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a report on Tuesday. Benchmark reiterated a “buy” rating on shares of Cadence Design Systems in a report on Tuesday. Citigroup lifted their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company boosted their price objective on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Finally, Stifel Nicolaus upped their price objective 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. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $403.81.

Cadence Design Systems Trading Up 1.8%

Cadence Design Systems stock opened at $344.72 on Wednesday. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. The firm has a market capitalization of $95.08 billion, a PE ratio of 68.53, a PEG ratio of 4.01 and a beta of 1.15. The business’s 50-day simple moving average is $373.90 and its 200-day simple moving average is $329.80.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a return on equity of 29.34% and a net margin of 23.60%.The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.65 EPS. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. Equities research analysts forecast that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 51,887 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the transaction, the chief executive officer owned 303,525 shares of the company’s stock, valued at approximately $112,304,250. The trade was a 14.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $391.00, for a total transaction of $782,000.00. Following the transaction, the vice president owned 126,586 shares of the company’s stock, valued at approximately $49,495,126. The trade was a 1.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 157,057 shares of company stock valued at $60,272,277. 0.49% of the stock is owned by corporate insiders.

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.