Why Cadence Design Systems (CDNS) Stock Is Up Today

Cadence Design Systems (CDNS) is up 3.2% today. Here is some analysis on what might have caused this price movement.

Analysis: A clear same-day company-specific catalyst is not obvious, so the move appears tied to continued investor follow-through from Cadence’s strong late-July earnings report, raised full-year outlook, and favorable analyst target revisions. This could also be because investors are continuing to reward AI-exposed semiconductor software names with visible backlog growth and improving profit expectations.

Details:

Cadence’s second-quarter 2026 revenue rose to $1.584 billion from $1.275 billion a year earlier, while non-GAAP diluted EPS increased to $2.11 from $1.65.

Management raised its 2026 outlook and now expects about 19% year-over-year revenue growth at the midpoint, along with non-GAAP EPS of $8.05 to $8.15.

The company disclosed record backlog of $8.1 billion, a sign of strong demand visibility across its software, IP, hardware, and system design offerings.

Recent analyst target increases to around $420 after the quarter likely helped reinforce bullish sentiment around Cadence’s AI-related growth trajectory.

Sources:

Cadence Investor Relations, SEC, TipRanks, StreetInsider

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$CDNS Insider Trading Activity

$CDNS insiders have traded $CDNS stock on the open market 71 times in the past 6 months. Of those trades, 0 have been purchases and 71 have been sales.

Here’s a breakdown of recent trading of $CDNS stock by insiders over the last 6 months:

ANIRUDH DEVGAN (President and CEO) has made 0 purchases and 3 sales selling 128,714 shares for an estimated $50,044,955.
JOHN M WALL (Sr. VP & CFO) has made 0 purchases and 6 sales selling 26,500 shares for an estimated $8,396,739.
PAUL SCANNELL (Sr. Vice President) has made 0 purchases and 3 sales selling 18,652 shares for an estimated $6,718,335.
CHIN-CHI TENG (Sr. Vice President) has made 0 purchases and 32 sales selling 13,500 shares for an estimated $4,921,612.
PAUL CUNNINGHAM (Sr. Vice President) has made 0 purchases and 6 sales selling 9,000 shares for an estimated $3,110,820.
JAMES D PLUMMER sold 1,511 shares for an estimated $576,204
ITA M BRENNAN has made 0 purchases and 20 sales selling 360 shares for an estimated $122,845.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$CDNS Hedge Fund Activity

We have seen 811 institutional investors add shares of $CDNS stock to their portfolio, and 744 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

JPMORGAN CHASE & CO added 7,865,907 shares (+inf%) to their portfolio in Q2 2026, for an estimated $2,952,232,215
INVESCO LTD. added 5,958,395 shares (+197.2%) to their portfolio in Q2 2026, for an estimated $2,236,304,811
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 2,192,940 shares (+inf%) to their portfolio in Q2 2026, for an estimated $823,054,240
JENNISON ASSOCIATES LLC removed 1,258,844 shares (-21.8%) from their portfolio in Q2 2026, for an estimated $472,469,330
BLACKROCK, INC. added 1,208,252 shares (+4.7%) to their portfolio in Q2 2026, for an estimated $453,481,140
T. ROWE PRICE INVESTMENT MANAGEMENT, INC. added 1,189,122 shares (+12942.1%) to their portfolio in Q2 2026, for an estimated $446,301,269
WINSLOW CAPITAL MANAGEMENT, LLC removed 1,151,476 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $316,195,424

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$CDNS Government Contracts

We have seen $2,286,750 of award payments to $CDNS over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

FY26 COMBINED FIDELITY POINTWISE RENEWAL: $369,942
DMEA SOFTWARE MAINTENANCE 2025 CADENCE: $305,000
CADENCE SOFTWARE SUPPORT AND MAINTENANCE: $175,333
FY26 LARC POINTWISE CENTER CONSOLIDATED RENEWAL: $149,441
ANSA RENEWAL: $133,603

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.

$CDNS Congressional Stock Trading

Members of Congress have traded $CDNS stock 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $CDNS stock by members of Congress over the last 6 months:

REPRESENTATIVE BYRON DONALDS has traded it 2 times. They made 0 purchases and 2 sales worth up to $30,000 on 06/05.
SENATOR ALAN ARMSTRONG sold up to $100,000 on 03/27.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$CDNS Price Targets

Multiple analysts have issued price targets for $CDNS recently. We have seen 8 analysts offer price targets for $CDNS in the last 6 months, with a median target of $400.0.

Here are some recent targets:

Ruben Roy from Stifel set a target price of $432.0 on 06/09/2026
Joe Quatrochi from Wells Fargo set a target price of $425.0 on 05/26/2026
Kelsey Chia from Citigroup set a target price of $400.0 on 04/29/2026
Clarke Jeffries from Piper Sandler set a target price of $325.0 on 04/28/2026
Joe Vruwink from Baird set a target price of $385.0 on 04/28/2026
Charles Shi from Needham set a target price of $400.0 on 04/28/2026
Jason Celino from Keybanc set a target price of $425.0 on 04/28/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.