Light Street Capital Management LLC Lowers Holdings in Cadence Design Systems, Inc. $CDNS

Light Street Capital Management LLC lowered its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 59.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,412 shares of the software maker’s stock after selling 3,544 shares during the quarter. Cadence Design Systems accounts for 0.1% of Light Street Capital Management LLC’s investment portfolio, making the stock its 27th largest holding. Light Street Capital Management LLC’s holdings in Cadence Design Systems were worth $847,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Cadence Design Systems by 1.2% during the third quarter. Vanguard Group Inc. now owns 26,923,317 shares of the software maker’s stock worth $9,457,084,000 after acquiring an additional 327,456 shares during the period. State Street Corp lifted its position in Cadence Design Systems by 1.4% in the second quarter. State Street Corp now owns 12,318,585 shares of the software maker’s stock valued at $3,795,972,000 after purchasing an additional 172,551 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Cadence Design Systems by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock valued at $1,866,739,000 after purchasing an additional 731,788 shares during the period. Norges Bank purchased a new stake in Cadence Design Systems in the 2nd quarter valued at approximately $1,190,618,000. Finally, Invesco Ltd. increased its position in Cadence Design Systems by 20.4% during the 3rd quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker’s stock worth $1,033,669,000 after purchasing an additional 499,009 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $292.72 on Tuesday. The firm has a market capitalization of $79.81 billion, a price-to-earnings ratio of 72.10, a price-to-earnings-growth ratio of 3.45 and a beta of 1.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.86 and a quick ratio of 2.67. The business’s 50 day simple moving average is $301.77 and its 200-day simple moving average is $321.51. 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, beating the consensus estimate of $1.91 by $0.08. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. Cadence Design Systems had a return on equity of 29.34% and a net margin of 20.93%.Cadence Design Systems’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the business posted $1.88 EPS. 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. As a group, equities analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction on Monday, March 2nd. The stock was 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 owned 94,137 shares of the company’s stock, valued at $28,032,115.86. The trade was a 1.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 3,005 shares of company stock valued at $910,133 in the last three months. Company insiders own 1.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Citigroup began coverage on Cadence Design Systems in a report on Monday, November 24th. They set a “buy” rating and a $385.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $390.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, February 18th. Stifel Nicolaus set a $395.00 target price on Cadence Design Systems in a report on Wednesday, February 18th. Finally, Oppenheimer upgraded shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 target price on the stock in a research report on Monday, December 1st. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $376.50.

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.