Danske Bank A Adds $70M in Cadence Design Systems, Inc. ($CDNS)
Danske Bank A has taken a new stake in Cadence Design Systems, acquiring 185,690 shares.
Key Points
- Danske Bank A acquired 185,690 shares of Cadence Design Systems, valued at $73.25 million, marking a new position.
- Cadence Design Systems has a market cap of $108.81 billion, with a P/E ratio of 91.74 and a 52-week range of $262.75 to $416.69.
- Insiders at Cadence Design Systems have been actively trading, with CEO Anirudh Devgan selling 25,005 shares on June 2, 2026.
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Danske Bank A has taken a new position in Cadence Design Systems, Inc. (NasdaqGS: CDNS), as revealed in its latest 13F filing with the SEC. The bank acquired 185,690 shares, valued at approximately $73.25 million, reflecting a significant move into the software company's stock.
What Changed in Danske Bank A's Cadence Design Systems Position
Danske Bank A's acquisition of Cadence Design Systems shares marks a new position, with the bank now holding 185,690 shares. This was a fresh purchase, as there were no shares held prior to this action.
Other Institutional Activity in Cadence Design Systems
Other major institutional investors have also adjusted their positions in Cadence Design Systems. BlackRock, Inc. trimmed its holdings by 694,182 shares, leaving it with 25,452,593 shares valued at about $7.07 billion. Vanguard Capital Management LLC added 17,813,174 shares, resulting in a holding of the same amount worth approximately $4.95 billion. Meanwhile, State Street Corp reduced its stake by 111,345 shares, now holding 12,492,023 shares valued at $3.47 billion. FMR LLC cut its position by 730,636 shares, retaining 9,153,206 shares worth about $2.54 billion. Geode Capital Management, LLC increased its stake by 248,199 shares, ending with 7,875,471 shares valued at $2.19 billion.
Cadence Design Systems, Inc. Stock Up 11.4%
Shares of Cadence Design Systems (NasdaqGS: CDNS) traded near $394.50 recently. The company boasts a market cap of $108.81 billion and a P/E ratio of 91.74, indicating high investor expectations. Its stock has seen a 52-week low of $262.75 and a high of $416.69, with a 50-day moving average of $347.38 and a 200-day moving average of $325.74. The beta of 1.149 suggests slightly higher volatility compared to the overall market.
$CDNS stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Cadence Design Systems reported revenue of $5.53 billion with a growth rate of 18.7%. The company achieved an EPS of $4.30, a net margin of 21.18%, and a return on equity of 20.66%. The next earnings report is scheduled for July 27, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
5 target raises vs 1 cuts.
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EPS & revenue
EPS beat estimates by 1.2%. Revenue met estimates.
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Profit surprise
EBITDA missed by 34 percent. Operating income missed by 32 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
5 target raises, 1 target cut.
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Earnings quality
Gross margin up 9.3 points. Positive free cash flow.
Earnings Call Summary
Cadence delivered a strong first quarter with $1.47 billion in revenue and record $8 billion backlog, driven by accelerating demand for AI-powered chip design tools. The company introduced new agentic AI agents for analog and digital design, signed a major IP deal with a leading foundry, and expects these AI tools to boost usage of its existing software while opening new revenue categories through subscription and consumption-based pricing.
Guidance Cadence raised its full year 2026 revenue outlook to about $6.2 billion, expecting 17 percent growth. The company expects to reach the Rule of 60 metric for the first time and plans to spend about half of free cash flow on share buybacks this year.
Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.
Insider Buying and Selling at Cadence Design Systems, Inc.
There has been notable insider activity at Cadence Design Systems. CEO Anirudh Devgan sold 25,005 shares at $415.00 each on June 2, 2026, under a planned transaction. Senior Vice President Paul Scannell sold 7,081 shares at an average price of $393.91 on June 1, 2026, also as part of a planned sale.
Analysts Set New Price Targets
Analysts have been active in maintaining their ratings on Cadence Design Systems. On June 9, 2026, Stifel maintained a 'buy' rating with a price target of $432.00. Wells Fargo reiterated its 'buy' rating with a $425.00 target on May 26, 2026. The consensus among analysts is strong buy, with a mean target price of $385.37 across 26 opinions.
About Cadence Design Systems
Cadence Design Systems, Inc., headquartered in San Jose, California, develops software and hardware solutions for electronic design. The company offers a range of products including AI-driven software, hardware, and silicon intellectual property. Cadence serves the technology sector, specifically in the application software industry, under the leadership of CEO Dr. Anirudh Devgan.
Bottom Line
Danske Bank A's new stake in Cadence Design Systems highlights the bank's interest in the technology sector. This move, disclosed in a backward-looking 13F filing, provides insight into institutional confidence in Cadence's growth prospects. Investors will continue to watch insider transactions and analyst ratings for further signals on the company's performance.
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