Spyglass Capital Management LLC Has $40.74 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Spyglass Capital Management LLC reduced its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 115,969 shares of the software maker’s stock after selling 12,566 shares during the quarter. Cadence Design Systems comprises 2.2% of Spyglass Capital Management LLC’s holdings, making the stock its 22nd largest holding. Spyglass Capital Management LLC’s holdings in Cadence Design Systems were worth $40,735,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CDNS. Y.D. More Investments Ltd bought a new position in shares of Cadence Design Systems during the 3rd quarter worth approximately $26,000. Caitlin John LLC bought a new stake in shares of Cadence Design Systems in the 3rd quarter valued at $29,000. Robbins Farley acquired a new position in shares of Cadence Design Systems during the 3rd quarter valued at $35,000. Cloud Capital Management LLC acquired a new position in shares of Cadence Design Systems during the 3rd quarter valued at $35,000. Finally, Strategic Wealth Investment Group LLC bought a new position in Cadence Design Systems during the second quarter worth $32,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CDNS has been the subject of a number of research reports. Oppenheimer upgraded shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price target for the company in a report on Monday, December 1st. Rosenblatt Securities reissued a “buy” rating and set a $360.00 price objective on shares of Cadence Design Systems in a research report on Thursday, February 26th. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Wells Fargo & Company decreased their target price on Cadence Design Systems from $410.00 to $375.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Finally, Citigroup assumed coverage on Cadence Design Systems in a research note on Monday, November 24th. They set a “buy” rating and a $385.00 price target on the stock. Fifteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $376.50.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $287.03 on Friday. The firm has a market capitalization of $78.26 billion, a PE ratio of 70.70, a price-to-earnings-growth ratio of 3.48 and a beta of 1.00. The firm has a fifty day simple moving average of $301.94 and a two-hundred day simple moving average of $322.27. 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 12 month low of $221.56 and a 12 month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Tuesday, February 17th. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.08. Cadence Design Systems had a net margin of 20.93% and a return on equity of 29.34%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. The business’s 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. Analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Transactions at Cadence Design Systems

In related news, CFO John M. Wall sold 27,805 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $318.57, for a total value 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 represents a 28.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $297.78, for a total transaction of $297,780.00. Following the completion of 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 position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,810 shares of company stock worth $9,767,972 in the last 90 days. 1.99% of the stock is currently owned by company insiders.

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.