First Trust Advisors Reduces $40M in Cadence Design Systems, Inc. ($CDNS)

First Trust Advisors has reduced its stake in Cadence Design Systems, Inc. (NasdaqGS: CDNS), according to its latest 13F filing with the SEC. The firm sold 104,187 shares, cutting its position by 17.3% to 497,625 shares. This stake is now valued at approximately $193.87 million as of the most recent reporting period.

What Changed in First Trust Advisors' Cadence Design Systems Position

First Trust Advisors trimmed its shares in Cadence Design Systems from 601,812 to 497,625. The reduction of 104,187 shares represents a 17.3% decrease in its holdings. The value of the remaining stake is about $193.87 million, reflecting the firm's decision to pare down its investment in the company.

Other Institutional Activity in Cadence Design Systems

Several other institutional investors also adjusted their Cadence holdings. BlackRock, Inc. reduced its position by 694,182 shares, ending with 25,452,593 shares worth approximately $7.07 billion. Vanguard Capital Management LLC added 17,813,174 shares, bringing its total to 17,813,174 shares valued at about $4.95 billion. State Street Corp trimmed its holdings by 111,345 shares, leaving it with 12,492,023 shares worth $3.47 billion. Meanwhile, Geode Capital Management, LLC increased its stake by 248,199 shares to 7,875,471, valued at $2.19 billion.

Cadence Design Systems Stock Snapshot

Shares of Cadence Design Systems traded around $389.60. The company has a market cap of $107.46 billion, with a P/E ratio of 90.4 and a forward P/E of 41.5. Its beta is 1.149, suggesting moderate volatility compared to the market. The stock's 52-week range spans from $262.75 to $416.69, with a 50-day moving average of $351.76 and a 200-day moving average of $326.10.

Recent Earnings

Cadence Design Systems reported revenues of approximately $5.53 billion, with a growth rate of 18.7%. The company's net margin stood at 21.2%, and its return on equity was 20.7%. The next earnings report is scheduled for July 27, 2026.

Insider Buying and Selling at Cadence Design Systems, Inc.

Several insiders have traded Cadence shares recently. On June 15, 2026, Sr. Vice President Paul Cunningham sold 2,000 shares at an average price of $391 under a planned sale but also bought 1,000 shares at $138.02. On June 11, James Plummer sold 1,511 shares at $381.34 in a planned sale. CEO Anirudh Devgan sold 25,005 shares at $415 on June 2 as part of a planned transaction.

Analysts Set New Price Targets

Analysts remain optimistic about Cadence Design Systems. On June 9, Stifel maintained a 'buy' rating with a price target of $432. Wells Fargo also kept a 'buy' rating with a target of $425 on May 26. The consensus among analysts is a strong buy, with an average target price of $385.37 based on 26 opinions.

About Cadence Design Systems

Cadence Design Systems, Inc. is a technology company specializing in software, hardware, and silicon intellectual property products. Headquartered in San Jose, California, Cadence develops solutions for computational and AI-driven design and verification, serving various industries with its diverse product offerings. The company employs over 15,000 people and collaborates strategically with firms like NVIDIA.

Bottom Line

First Trust Advisors' reduction in Cadence Design Systems shares highlights the dynamic nature of institutional investing. While the 13F filing provides a snapshot of past positions, investors should consider current market conditions and future company prospects. Cadence remains a significant player in the technology sector, with strong analyst support and ongoing insider activity.