Light Street Capital Management LLC Trims Stock Position in Cadence Design Systems, Inc. $CDNS

Light Street Capital Management LLC cut its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 59.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,412 shares of the software maker’s stock after selling 3,544 shares during the quarter. Cadence Design Systems makes up approximately 0.1% of Light Street Capital Management LLC’s portfolio, making the stock its 27th largest holding. Light Street Capital Management LLC’s holdings in Cadence Design Systems were worth $847,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its position in Cadence Design Systems by 80.2% during 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 in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Cadence Design Systems by 3.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock valued at $560,000 after acquiring an additional 80 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new stake in shares of Cadence Design Systems in the second quarter valued at $205,000. Advisors Capital Management LLC boosted its stake in shares of Cadence Design Systems by 29.3% during the second quarter. Advisors Capital Management LLC now owns 1,113 shares of the software maker’s stock valued at $343,000 after acquiring an additional 252 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Cadence Design Systems by 53.1% during the second quarter. Creative Planning now owns 76,510 shares of the software maker’s stock valued at $23,577,000 after acquiring an additional 26,534 shares during the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $297.78, for a total value of $297,780.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 3,005 shares of company stock valued at $910,133 in the last ninety days. 1.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CDNS shares. Oppenheimer raised shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 target price for the company in a research note on Monday, December 1st. Wells Fargo & Company decreased their price target on shares of Cadence Design Systems from $410.00 to $375.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Morgan Stanley lowered their price target on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Piper Sandler cut their price objective on shares of Cadence Design Systems from $355.00 to $319.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $376.50.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $292.72 on Tuesday. The business’s 50-day moving average price is $301.77 and its 200 day moving average price is $321.51. 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 company has a market capitalization of $79.81 billion, a PE ratio of 72.10, a price-to-earnings-growth ratio of 3.45 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Tuesday, February 17th. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business earned $1.88 EPS. The firm’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. On average, research analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current 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.