CADENCE DESIGN SYSTEMS, INC.
In the published model solve dated 2026-Q2, anchored at $340.00, CADENCE DESIGN SYSTEMS, INC. (CDNS) is priced for today's economics sustained for ~14.5 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• Chip designers rent Cadence's software on multi-year commitments and keep renewing, which is why 91% of revenue arrives as product and maintenance and only 9% as services, and why the filing describes contracts ⟦"with non-cancelable commitments, whereby the customer commits to a fixed dollar amount"⟧. • The valuation is the exposure: at roughly 61 times company-wide operating profit, no family of standard valuation method reaches the price, and the stock fell 9.5% in a single session on July 2
Is CDNS overvalued? See what's priced in →
1,353 institutional managers reported holding CDNS in 13F filings for the quarter ended 2026-03-31. Together they hold about 82% of the company; the top 10 hold 39%. 122 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 4.9M shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (1.9 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
CDNS has cut its share count 0.5% over the past five years, spending $3.65B on repurchases. It pays no dividend. Cash returned over the past three years: $1.93B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at CDNS over the trailing three years: 2025: 1 buy totaling $14k. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
CDNS's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-25 | -1.9% | -3.8% |
| 2023-10-24 | -0.5% | +15.8% |
| 2024-02-15 | -5.7% | -3.3% |
| 2024-04-25 | +0.5% | +11.1% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
CDNS's latest 8-K filings: 2026-07-27 (items 2.02, 9.01); 2026-05-12 (items 5.02, 5.07); 2026-04-27 (items 2.02, 9.01); 2026-02-23 (items 3.02); 2026-02-17 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.