Celestica, Cadence Design Systems and Rambus all posted estimate-beating results for the third quarter.
CDNS Cadence Design Systems
XNAS
335.36
Delayed
Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
CDNS
$335.36
—
What changed
Recent filings, trades and movesKey stats
$335.36
- 52-Week Range
- $262.75 – $416.69
- YTD
- +8.04%
- IV Rank (30D)
- 53.88
- Straddle Price
- $37.45
- P/C Vol Ratio
- 1.18
- Market Cap
- $87.8B
- Open
- $324.73
- Day Range
- $321.93 – $337.18
- Volume
- 704,530
- Prev Close
- $319.92
Fair Value
MODEL: NEUTRAL
A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.
- DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
- Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
- DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
- P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
- Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
- Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
- Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
- Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
| 10-yr Treasury (rf) | 4.90% |
| Beta vs SPY | 1.24 |
| Cost of Equity (CAPM) | 11.49% (VRP-adj) |
| WACC | 11.46% |
| Volatility Risk Premium | +9.4pp (IV − HV30), ERP adj +32bps |
| Effective Tax Rate | 25.0% |
| Rev. Growth (YoY, DCF input) | +13.4% |
| DCF Horizon | 12 years explicit + fade |
| Forward Tilt (NTM/TTM) | ×1.10 (applied to P/E, EV/EBITDA, P/S) |
| Free Cash Flow (TTM) | $1.8B |
| Return on Equity (TTM) | 20.1% |
| Book / Price | 7.8% |
| Gross Margin (TTM) | 85.7% |
| FCF Margin (TTM) | 28.8% |
| Debt / Equity | 0.29 |
| Quality Score | 5/6 — high quality (12y DCF) |
| Market-Implied Growth | +27.2% (reverse-DCF on current price) |
| SMA 50 | $319.83 (Market Anchor value) |
| SMA 20 / Bollinger Mid | $327.32 |
| Bollinger Width / SMA20 | 12.6% (drives anchor stability) |
| Net Debt | $0.5B |
| Market Cap | $88B |
Peers used for multiples: AAPL, AMD, AVGO, GOOG, GOOGL, META, MSFT, NVDA
60-Day Conviction
19%
20-Day Fair Value
≈ by Dec 8, 2026
$333.39
α -0.8%
rank 5%
conviction
54%
40-Day Fair Value
≈ by Jan 6, 2027
$330.94
α -1.5%
rank 5%
conviction
53%
60-Day Fair Value
≈ by Feb 4, 2027
$333.62
α -0.7%
rank 5%
conviction
19%
| Method | Implied Price | Weight | Detail |
|---|---|---|---|
| DCF | $138.96 | 20% | |
| DDM (Gordon) | n/a | 0% | |
| Peer P/E | $140.07 | 9% | median 25.3× · 8 peers |
| Peer EV/EBITDA | $179.77 | 9% | median 20.6× · 8 peers |
| Peer P/B | $226.78 | 2% | median 9.1× · 8 peers |
| Peer P/S | $268.80 | 6% | median 11.0× · 8 peers |
| Market Anchor (SMA50) | $319.83 | 35% | stability 87% (BB-width) |
| Options Expected (B-L 30d) | $320.93 | 20% | 49 strikes · skew +0.07 |
As of 2026-11-09 · updated
Related
About
- Industry (SIC)
- SERVICES-PREPACKAGED SOFTWARE (7372) · industry map
- Exchange
- XNAS
- Market Cap
- $87.8B
- Employees
- 13,800
- List Date
- 1987-06-10
- CIK
- 0000813672
- Last Earnings
- Oct 26 after close · +6.5% vs ±8.2% expected
- Headquarters
- San Jose, CA
- Homepage
- https://www.cadence.com
Cadence Design Systems is a provider of electronic design automation software, intellectual property, and system design and analysis products. EDA software automates and aids in the chip design process, enhancing design accuracy, productivity, and complexity in a full-flow end-to-end solution. Cadence offers a portfolio of design IP, as well as system design and analysis products, which enables system-level analysis and verification solutions.
Summary
—
composite
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No summary data available for this symbol yet.
Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | -3.96% | -16.94% | 14.53% | 9.72% | -0.01% | -4.52% | -0.20% |
| Feb | 4.98% | -0.12% | 2.14% | 4.77% | -16.02% | 4.22% | -0.00% |
| Mar | -7.09% | 9.25% | 9.75% | -1.26% | 5.21% | -8.40% | 1.24% |
| Apr | -6.87% | -8.92% | -0.92% | -11.69% | 15.05% | 17.63% | 0.71% |
| May | -2.03% | 2.15% | 9.62% | 4.28% | -4.22% | 9.97% | 3.29% |
| Jun | 8.80% | -2.08% | 0.92% | 7.55% | 5.34% | -9.38% | 1.86% |
| Jul | 7.83% | 24.35% | -0.59% | -13.91% | 17.81% | -10.62% | 4.15% |
| Aug | 10.99% | -6.09% | 2.91% | 3.11% | -1.83% | 0.78% | 1.65% |
| Sep | -7.74% | -3.89% | -3.80% | 5.76% | 2.46% | 5.48% | -0.29% |
| Oct | 13.14% | -11.09% | 1.42% | 4.86% | -3.77% | -6.51% | -0.32% |
| Nov | 2.08% | 13.99% | 11.59% | 8.76% | -7.03% | 1.93%* | 5.22% |
| Dec | 6.46% | -9.13% | 0.75% | -3.16% | 0.96% | -- | -0.82% |
| Total | 26.24% | -14.65% | 57.92% | 16.56% | 9.76% | -3.26% | 15.43% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $326.67
SMA 50: $319.73
SMA 200: $327.83
Current: $335.42
EMA 12: $327.38
EMA 26: $327.55
MACD: -0.1688 | Signal: -0.8298
BULLISH
ADX (14): 17.07
RANGE
+DI: 25.30
−DI: 27.48
Momentum Oscillators
RSI (14): 53.71
NEUTRAL
Stoch %K: 39.14
Stoch %D: 37.11
Williams %R: -30.68
Volume & Volatility
BB Upper: $345.32
BB Lower: $308.02
NEUTRAL
OBV: 38,705,080
Vol SMA 20: 2,537,126
Vol ROC: -85.01%
ATR: $14.26
True Range: $17.26
HV 20: 51.0%
HV 30: 46.5%
HV 60: 44.6%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-11-08T00:00:00 – 2026-11-06T00:00:00
AI Analysis
Written before CDNS’s Oct 26 earnings report, so it doesn’t reflect the results.
CADENCE DESIGN SYSTEMS (CDNS) - COMPREHENSIVE STOCK ANALYSIS
Executive Summary
Overall Assessment: BULLISH | Confidence Level: 7/10
Cadence Design Systems presents a mixed but constructively-biased setup characterized by bullish technical momentum offset by elevated volatility and mixed sentiment signals. The stock is trading at $329.46, positioned marginally above its 20-day SMA ($329.24) with a strong MACD bullish histogram (8.69) and a confirmed uptrend regime (ADX 26.58). However, the high beta (1.57) and IV premium (26.1% above realized volatility) suggest significant execution risk heading into earnings on 2026-10-26.
Key Drivers:
- MACD bullish crossover with strong momentum histogram (8.69)
- Confirmed trend regime (ADX 26.58, +DI 26.46)
- Positive news sentiment alignment (5 of 6 recent headlines positive)
- Earnings beat track record fueling optimism
Primary Risks:
- High beta (1.57) amplifies drawdown exposure during market corrections
- RSI at neutral 49.70 provides no confirmation of momentum strength
- Competitor Synopsys up 34.5% in one month—relative underperformance narrative
- IV premium of 26.1% embedded into options suggests market pricing significant post-earnings volatility
Investment Thesis: CDNS exhibits technically sound uptrend structure with bullish momentum (MACD) and earnings tailwinds, but high volatility and IV compression risk into the 2026-10-26 earnings date create a "show-me" dynamic. The stock is poised for a breakout move but lacks RSI confirmation of conviction, making this a risk-managed, near-term tactical opportunity rather than a high-conviction swing.
Technical Analysis
Trend Direction
| Timeframe | Direction | Confidence | Key Evidence | |-----------|-----------|------------|--------------| | Short-term (1-4 weeks) | BULLISH | High | Price above SMA20 ($329.24), EMA12 ($338.96) above EMA26 ($330.27), ADX 26.58 confirming trend | | Medium-term (1-3 months) | BULLISH | Medium | Price near SMA50 ($320.41), testing resistance above SMA200 ($326.95) successfully | | Long-term (3-12 months) | BULLISH | Medium | Price trading above 200-day MA ($326.95), but no extreme extension suggesting room to run |
Trend Structure Quality: The ADX reading of 26.58 confirms a trending regime (ADX >25 = trend in place). The +DI (26.46) vs -DI (27.83) shows directional strength nearly balanced with mild bearish pressure, indicating the uptrend is intact but not dominant. This suggests a consolidation within an uptrend rather than a breakout acceleration phase.
Support/Resistance Levels
| Level | Type | Distance | Significance | |-------|------|----------|--------------| | $376.95 | Resistance | +14.4% | Bollinger Bands upper band; represents 2-3 week target if breakout occurs | | $338.96 | Resistance | +3.0% | EMA12; near-term resistance, break above confirms momentum | | $329.24 | Support | Current | SMA20 acting as dynamic support (price currently at level) | | $326.95 | Support | -0.8% | SMA200; psychological and technical support line | | $320.41 | Support | -2.8% | SMA50; intermediate support if pullback occurs | | $281.53 | Support | -14.5% | Bollinger Bands lower band; represents 20-25% drawdown level |
Critical Observation: The stock is trading at the nexus of three moving averages (within $3 of SMA20/SMA50 zone). This is a classic indecision zone that typically precedes a directional breakout. The next leg will likely be determined by post-earnings catalyst.
Momentum Signals
MACD Analysis: STRONG BULLISH
- MACD line: 8.69
- Signal line: -0.01
- Histogram: 8.69 (positive, expanding)
- Interpretation: MACD is in bullish crossover territory with the histogram expanding, indicating accelerating upside momentum. This is the strongest bullish signal in the technical picture. The divergence between MACD (+8.69) and signal line (-0.01) suggests momentum is building ahead of a potential move.
RSI (14): 49.70 - NEUTRAL/WEAK CONFIRMATION
- Interpretation: RSI at 49.70 is precisely at the midpoint, neither overbought (>70) nor oversold (<30). This is a critical weakness in the bullish case—while price momentum (MACD) is positive, the RSI shows no conviction. This suggests the move lacks participation from short-term traders and could be vulnerable to profit-taking.
- Risk Signal: Bullish technical moves with neutral RSI often peter out without follow-through volume.
Stochastic Oscillator: MIXED
- %K: 53.21 (neutral)
- %D: 68.87 (approaching overbought)
- Interpretation: The %D line at 68.87 is approaching overbought territory (>70), suggesting the medium-term momentum may be overextended even as %K remains neutral. A potential divergence warning: %K rolling over while %D remains elevated could signal momentum deceleration.
Williams %R: -67.73 - NEUTRAL
- Interpretation: Williams %R at -67.73 (range: 0 to -100) indicates price is near the middle of its recent range, neither at extremes. Supports the "indecision zone" thesis.
Momentum Synthesis:
✓ MACD is strongly bullish (the primary bullish signal)
✗ RSI lacks confirmation (should be >55 for conviction)
⚠ Stochastic %D approaching overbought (potential mean reversion risk)
Verdict: Momentum is building but lacks retail/trader conviction. Professional (MACD) vs retail (RSI) divergence suggests institutional money is positioning ahead of earnings while retail remains unconvinced.
Bollinger Bands Analysis
| Component | Value | Signal | |-----------|-------|--------| | Upper Band | $376.95 | +14.4% upside target | | Middle Band (SMA20) | $329.24 | Dynamic support; price currently at level | | Lower Band | $281.53 | -14.5% extreme drawdown support | | Band Width | $95.42 (28.98% of price) | Neutral—no squeeze signal | | Position | Mid-band | Neutral squeeze/breakout |
Interpretation: The Bollinger Bands are in a neutral configuration—not compressed (which would signal low volatility + breakout potential) nor expanded (which would signal breakout already occurring). The stock is trading at the middle band, which historically acts as support and resistance. The band width of 28.98 indicates moderate volatility, consistent with the HV30 of 38.6%.
Breakout Scenario: If CDNS breaks above the EMA12 ($338.96), the upper Bollinger Band ($376.95) becomes the next target, representing a 14.4% move from current levels—well within the range of the expected options move ($36.65 over 30 DTE).
Volume Analysis
| Metric | Value | Interpretation | |--------|-------|-----------------| | Volume SMA 20 | 2,397,598 | Baseline institutional participation | | Volume Rate of Change | -3.97% | Declining volume trend—BEARISH signal | | On-Balance Volume (OBV) | 40,885,894.92 | Cumulative positive; suggests money has been flowing in | | Call/Put Volume Ratio | 1.08 (14.0 calls vs 13.0 puts) | Slightly bullish bias in options |
Volume Concern—CRITICAL: The Volume Rate of Change of -3.97% indicates that trading volume has declined over the last 20 days despite price holding near highs. This is a **
Generated
News
All CDNS news →
Hardware verification demand is accelerating as chip complexity surges, creating a structural moat beyond software alone.
Record $8.2B backlog and 22% revenue growth fuel raised full-year guidance.
Cadence Design Systems beat Wall Street's targets for the third quarter and raised its outlook for the full year. CDNS stock rose. The post Cadence Design Systems Fashions Beat-And-Raise Q3 Report appeared first on Investor's Business Daily .
Earnings History
20 of 24 under expected move
Avg Expected Move
8.17%
Avg Actual Move
4.33%
| Earnings Date | Timing | Expected Move | Actual Move | Ratio | Outcome |
|---|---|---|---|---|---|
| 2021-02-22 | After-Close | 8.94% | 0.42% | 0.05x | Within |
| 2021-04-26 | After-Close | 6.66% | 7.96% | 1.20x | Exceeded |
| 2021-07-26 | After-Close | 6.21% | 1.17% | 0.19x | Within |
| 2021-10-25 | After-Close | 6.58% | 3.32% | 0.50x | Within |
| 2022-02-22 | After-Close | 10.00% | 4.19% | 0.42x | Within |
| 2022-04-25 | After-Close | 10.66% | 0.29% | 0.03x | Within |
| 2022-07-25 | After-Close | 8.73% | 1.84% | 0.21x | Within |
| 2022-10-24 | After-Close | 10.12% | 5.55% | 0.55x | Within |
| 2023-02-13 | After-Close | 5.09% | 7.21% | 1.42x | Exceeded |
| 2023-04-24 | After-Close | 6.75% | 4.26% | 0.63x | Within |
| 2023-07-24 | After-Close | 6.82% | 1.24% | 0.18x | Within |
| 2023-10-23 | After-Close | 7.88% | 1.05% | 0.13x | Within |
| 2024-02-12 | After-Close | 7.19% | 4.00% | 0.56x | Within |
| 2024-04-22 | After-Close | 9.05% | 1.14% | 0.13x | Within |
| 2024-07-22 | After-Close | 7.79% | 1.42% | 0.18x | Within |
| 2024-10-28 | After-Close | 9.36% | 12.53% | 1.34x | Exceeded |
| 2025-02-18 | After-Close | 7.99% | 8.78% | 1.10x | Exceeded |
| 2025-04-28 | After-Close | 8.40% | 5.77% | 0.69x | Within |
| 2025-07-28 | After-Close | 10.34% | 9.74% | 0.94x | Within |
| 2025-10-27 | After-Close | 8.57% | 2.87% | 0.33x | Within |
| 2026-02-17 | After-Close | 7.94% | 7.60% | 0.96x | Within |
| 2026-04-27 | After-Close | 8.78% | 3.34% | 0.38x | Within |
| 2026-07-27 | After-Close | 8.06% | 1.80% | 0.22x | Within |
| 2026-10-26 | After-Close | 8.15% | 6.49% | 0.80x | Within |
Earnings calendar: this week’s reports with expected vs actual moves →
CDNS Options Activity & IV Rank
CDNS IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 47.5%
7-DTE IV: 53.7%
Expected Move: $37.45
7-DTE Move: $16.15
Days to Exp: 32 (2026-12-11)
Options Flow · All expiries
Call Volume: 2,699
Put Volume: 3,183
P/C Volume: 1.179
NEUTRAL
Call OI: 39,714
Put OI: 48,374
P/C OI: 1.218
Total OI: 88,088
ATM Options Pricing
ATM Call: $19.70
ATM Put: $17.75
Call %: 5.9%
Put %: 5.3%
Chain Summary
Chain Volume: 5,882
Chain OI: 88,088
Last Updated: 11/9/2026
Spread Scanner
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Scanning bull put, bear call, iron condor and calendar spreads…
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 46th percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
46%
vs own history
GEX tilt
-0.02
OI-weighted, today
Vanna tilt
+0.77
δ-sensitivity to IV
Charm tilt
-0.71
δ-decay vs time
Vanna tilt +0.77: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.71: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 171 ATM contracts, 55k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
83%
+11.8
pts
EXTREME
ATM 52.5% / Wing 64.3%
30 DTE / 10d
60%
+5.9
pts
EXTREME
ATM 47.4% / Wing 53.4%
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Loading the implied volatility surface…
Volatility Smile
Loading the implied volatility smile…
IV Rank (7 DTE)47.9MediumNov 9
IV Rank (30 DTE)53.9MediumNov 9
Straddle Price (30 DTE)$37.45Nov 9
Beta Analysis
Risk Metrics
Beta: 1.6012
Alpha: -7.80%
Correlation: 0.5214
R-Squared: 27.2%
Stock Volatility: 42.2%
Market Volatility: 13.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
Notable investors who own CDNS
5 of 37 tracked investors
| Investor | Value | Share of their portfolio | Rank | Q/Q shares | Source |
|---|---|---|---|---|---|
| Citadel Hedge fund Ken Griffin | $206.6M | #187 of 6285 | +37.4% | 13F | |
| Rockefeller Capital Management Family office Rockefeller family | $155.6M | #82 of 4729 | +0.9% | 13F | |
| Millennium Management Hedge fund Izzy Englander | $142.7M | #219 of 3716 | -11.0% | 13F | |
| Point72 Hedge fund Steve Cohen | $107.0M | #160 of 1945 | -58.5% | 13F | |
| Bridgewater Associates Hedge fund Ray Dalio | $422K | #940 of 997 | -95.6% | 13F |
Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions
CDNS Institutional Ownership (13F)
Filings for 2026-09-30
? 13F Guide
Diluted shares outstanding: 274,521,500 (as of 2026-09-30)
Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
47 filers$1.53B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $589.18M | 38.53% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $291.06M | 19.04% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $161.31M | 10.55% | 2026-06-30 |
| 4 | Barclays PLC Custodian | $76.97M | 5.03% | 2026-09-30 |
| 5 | NOMURA HOLDINGS INC | $60.05M | 3.93% | 2026-06-30 |
| 6 | IMC-Chicago, LLC Custodian | $52.76M | 3.45% | 2026-09-30 |
| 7 | Millennium Management LLC Custodian | $38.88M | 2.54% | 2026-06-30 |
| 8 | Point72 Asset Management, L.P. | $38.13M | 2.49% | 2026-06-30 |
| 9 | Walleye Trading LLC | $35.62M | 2.33% | 2026-06-30 |
| 10 | Allianz Asset Management GmbH | $28.64M | 1.87% | 2026-06-30 |
| 11 | TORONTO DOMINION BANK | $18.39M | 1.20% | 2026-06-30 |
| 12 | Goldman Sachs Group Inc Custodian | $18.28M | 1.20% | 2026-06-30 |
| 13 | BlackRock, Inc. Custodian | $15.76M | 1.03% | 2026-06-30 |
| 14 | PEAK6 LLC | $14.37M | 0.94% | 2026-06-30 |
| 15 | Simplex Trading, LLC Custodian | $12.51M | 0.82% | 2026-09-30 |
| 16 | National Bank of Canada Custodian | $12.39M | 0.81% | 2026-06-30 |
| 17 | GROUP ONE TRADING LLC Custodian | $10.58M | 0.69% | 2026-06-30 |
| 18 | JPMorgan Chase & Co Custodian | $9.32M | 0.61% | 2026-06-30 |
| 19 | Two Sigma Investments, LP Custodian | $5.70M | 0.37% | 2026-06-30 |
| 20 | Citigroup Inc. Custodian | $5.51M | 0.36% | 2026-09-30 |
| 21 | Balyasny Asset Management L.P. | $4.65M | 0.30% | 2026-06-30 |
| 22 | Laurion Capital Management LP | $2.61M | 0.17% | 2026-09-30 |
| 23 | HSBC Holdings plc Custodian | $2.36M | 0.15% | 2026-06-30 |
| 24 | Marex Group Ltd | $2.33M | 0.15% | 2026-06-30 |
| 25 | Squarepoint Ops LLC | $2.25M | 0.15% | 2026-06-30 |
38 filers$2.20B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | NOMURA HOLDINGS INC | $688.64M | 31.36% | 2026-06-30 |
| 2 | Jane Street Group, LLC Custodian | $607.94M | 27.69% | 2026-06-30 |
| 3 | Susquehanna International Group, LLP Custodian | $321.57M | 14.64% | 2026-06-30 |
| 4 | Citadel Advisors LLC Custodian | $117.14M | 5.33% | 2026-06-30 |
| 5 | Marshall Wace, LLP Custodian | $97.58M | 4.44% | 2026-06-30 |
| 6 | Barclays PLC Custodian | $83.87M | 3.82% | 2026-09-30 |
| 7 | IMC-Chicago, LLC Custodian | $61.78M | 2.81% | 2026-09-30 |
| 8 | Millennium Management LLC Custodian | $49.80M | 2.27% | 2026-06-30 |
| 9 | Allianz Asset Management GmbH | $39.11M | 1.78% | 2026-06-30 |
| 10 | Capula Management Ltd | $21.06M | 0.96% | 2026-06-30 |
| 11 | SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC | $11.26M | 0.51% | 2026-06-30 |
| 12 | Alphadyne Asset Management LP | $10.85M | 0.49% | 2026-06-30 |
| 13 | JPMorgan Chase & Co Custodian | $9.32M | 0.42% | 2026-06-30 |
| 14 | Walleye Trading LLC | $7.58M | 0.35% | 2026-06-30 |
| 15 | Two Sigma Investments, LP Custodian | $6.08M | 0.28% | 2026-06-30 |
| 16 | Citigroup Inc. Custodian | $5.94M | 0.27% | 2026-09-30 |
| 17 | Banco BTG Pactual S.A. | $5.67M | 0.26% | 2026-06-30 |
| 18 | Twin Tree Management, LP | $5.63M | 0.26% | 2026-06-30 |
| 19 | CAPSTONE INVESTMENT ADVISORS, LLC | $5.33M | 0.24% | 2026-06-30 |
| 20 | Simplex Trading, LLC Custodian | $5.25M | 0.24% | 2026-09-30 |
| 21 | MAI Capital Management | $5.18M | 0.24% | 2026-06-30 |
| 22 | Laurion Capital Management LP | $5.05M | 0.23% | 2026-09-30 |
| 23 | Squarepoint Ops LLC | $3.60M | 0.16% | 2026-06-30 |
| 24 | Balyasny Asset Management L.P. | $3.49M | 0.16% | 2026-06-30 |
| 25 | Qube Research & Technologies Ltd | $2.66M | 0.12% | 2026-06-30 |
CDNS Insider Trading (Form 4)
Latest: 2026-10-16Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
| Filed | Reporter | Role | Action | Shares | Avg Price | Net $ | Link |
|---|---|---|---|---|---|---|---|
| 2026-10-16 | Paul Cunningham | Sr. Vice President | Mixed Exer +1,000 · Sell −2,000 |
−1,000 | $262.09 | -$510.2K | EDGAR |
| 2026-10-05 | Vincentelli Alberto Sangiovanni | Director | Sell (S) | −1,250 | $350.07 | -$437.6K | EDGAR |
| 2026-09-21 | John M Wall | Sr. VP & CFO | Tax (F) | −1,433 | $280.76 | -$402.3K | EDGAR |
| 2026-09-21 | Paul Cunningham | Sr. Vice President | Tax (F) | −1,181 | $280.76 | -$331.6K | EDGAR |
| 2026-09-21 | Paul Scannell | Sr. Vice President | Tax (F) | −937 | $280.76 | -$263.1K | EDGAR |
| 2026-09-21 | Chin-Chi Teng | Sr. Vice President | Tax (F) | −1,181 | $280.76 | -$331.6K | EDGAR |
| 2026-09-21 | Anirudh Devgan | President and CEO | Tax (F) | −3,779 | $280.76 | -$1.06M | EDGAR |
| 2026-09-17 | Anirudh Devgan | President and CEO | Tax (F) | −2,539 | $273.96 | -$695.6K | EDGAR |
| 2026-09-17 | John M Wall | Sr. VP & CFO | Tax (F) | −983 | $273.96 | -$269.3K | EDGAR |
| 2026-09-17 | Paul Cunningham | Sr. Vice President | Mixed Sell −2,000 · Tax −793 · Exer +1,000 |
−1,793 | $239.79 | -$633.5K | EDGAR |
| 2026-09-17 | Chin-Chi Teng | Sr. Vice President | Tax (F) | −793 | $273.96 | -$217.3K | EDGAR |
| 2026-09-14 | Ita M Brennan | Director | Sell (S) | −180 | $285.51 | -$51.4K | EDGAR |
| 2026-08-27 | Paul Cunningham | Sr. Vice President | Gift (G) | −1,000 | — | EDGAR | |
| 2026-08-27 | Paul Scannell | Sr. Vice President | Sell (S) | −280 | $339.00 | -$94.9K | EDGAR |
| 2026-08-27 | Vincentelli Alberto Sangiovanni | Director | Sell (S) | −1,250 | $320.88 | -$401.1K | EDGAR |
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.
CDNS Insider Holdings
17 insiders · @ $335.42
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
| # | Insider | Role | Shares | Disclosed Exposure | Lifetime OM Net | Filings | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | Anirudh Devgan | President and CEO | 247,201 | $82.92M | -$208.24M | 116 | 2026-09-21 |
| 2 | Chin-Chi Teng | Sr. Vice President | 136,075 | $45.64M | -$61.71M | 87 | 2026-09-21 |
| 3 | Paul Cunningham | Sr. Vice President | 119,612 | $40.12M | -$14.94M | 93 | 2026-10-16 |
| 4 | John M Wall | Sr. VP & CFO | 79,459 | $26.65M | -$81.85M | 99 | 2026-09-21 |
| 5 | Vincentelli Alberto Sangiovanni | Director | 39,544 | $13.26M | -$26.10M | 61 | 2026-10-05 |
| 6 | Paul Scannell | Sr. Vice President | 30,783 | $10.33M | -$11.43M | 25 | 2026-09-21 |
| 7 | James D Plummer | Director | 26,384 | $8.85M | -$12.01M | 25 | 2026-06-15 |
| 8 | Karna Nisewaner | SVP & General Counsel | 23,941 | $8.03M | -$2.96M | 30 | 2025-03-19 |
| 9 | Marc Taxay | SVP & General Counsel | 22,599 | $7.58M | $0 | 4 | 2026-05-19 |
| 10 | Young Sohn | Director | 15,243 | $5.11M | -$4.10M | 21 | 2026-08-03 |
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
CDNS Board & Officers
As of SEC filings through Oct 16, 2026Directors 11
- Vincentelli Alberto Sangiovanni · on file since 2006
- James D Plummer · since Oct 31, 2011
- Young Sohn · since Feb 13, 2013
- Mark Adams · since Feb 10, 2015
- Ita M Brennan · since Mar 15, 2020
- Lewis Chew · since Mar 15, 2020
- Julia Liuson · since Jan 4, 2021
- Anirudh Devgan · listed since Aug 2021
- Mary L Krakauer · since Jan 31, 2022
- Moshe Gavrielov · listed since Jan 2025
- hove Luc Van den · since Jan 1, 2026
Officers 6
- Anirudh Devgan · President and CEO · listed since Dec 2021
- Chin-Chi Teng · Sr. Vice President · since Sep 4, 2018
- Paul Cunningham · Sr. Vice President · since Mar 1, 2021
- Paul Scannell · Sr. Vice President · since Jul 31, 2024
- John M Wall · Sr. VP & CFO · since Oct 1, 2017
- Marc Taxay · SVP & General Counsel · since May 8, 2025
Changes in the last 10 years (30)
| Jan 1, 2026 | hove Luc Van den became a director |
| May 8, 2025 | Marc Taxay became SVP & General Counsel |
| Jan 3, 2025 | Moshe Gavrielov first listed as a director in an SEC filing |
| Jul 31, 2024 | Paul Scannell became Sr. Vice President |
| May 2, 2024 | The company announced the departure of Aneel Zaman as Sr. Vice President in an SEC filing |
| Feb 5, 2024 | Karna Nisewaner listed as SVP & General Counsel (previously Corporate VP, General Counsel) in SEC filings |
| Feb 1, 2024 | The company announced the departure of John B Shoven from the board in an SEC filing |
| May 18, 2023 | Lip Bu Tan reported in an SEC filing no longer being a director |
| Feb 8, 2023 | The company announced the departure of Lip Bu Tan from the board in an SEC filing |
| Feb 8, 2023 | The company announced the departure of Lip Bu Tan as Executive Chairman in an SEC filing |
| Jan 19, 2023 | Lip Bu Tan first listed as a director in an SEC filing |
| Sep 19, 2022 | Alinka Flaminia reported in an SEC filing no longer being Sr. VP, Chief Legal Officer |
| Sep 16, 2022 | Karna Nisewaner became Corporate VP, General Counsel |
| Jan 31, 2022 | Mary L Krakauer became a director |
| Jan 20, 2022 | Lip Bu Tan listed as Executive Chairman (previously CEO) in SEC filings |
| Dec 17, 2021 | Anirudh Devgan listed as President and CEO (previously President) in SEC filings |
| Aug 17, 2021 | Anirudh Devgan first listed as a director in an SEC filing |
| Mar 1, 2021 | Paul Cunningham became Sr. Vice President |
| Jan 4, 2021 | Julia Liuson became a director |
| Jun 1, 2020 | Alinka Flaminia became Sr. VP, Chief Legal Officer |
| Apr 30, 2020 | Roger S Siboni reported in an SEC filing no longer being a director |
| Mar 15, 2020 | Lewis Chew became a director |
| Mar 15, 2020 | Ita M Brennan became a director |
| Sep 4, 2018 | Chin-Chi Teng became Sr. Vice President |
| Dec 19, 2017 | Lip Bu Tan listed as CEO (previously President & CEO) in SEC filings |
| Nov 16, 2017 | Anirudh Devgan listed as President (previously Executive Vice President) in SEC filings |
| Oct 1, 2017 | John M Wall became Sr. VP & CFO |
| Jul 1, 2017 | Mary Agnes Wilderotter became a director |
| Mar 10, 2017 | Anirudh Devgan listed as Executive Vice President (previously Sr. Vice President) in SEC filings |
| Jan 13, 2017 | Surendra Babu Mandava became Sr. Vice President |
Not reported recently (8)
- Karna Nisewaner · Last reported as SVP & General Counsel in an SEC filing dated Mar 19, 2025
- Thomas P Beckley · Last reported as Sr. Vice President in an SEC filing dated Sep 18, 2024
- Surendra Babu Mandava · Last reported as Sr. Vice President in an SEC filing dated Mar 17, 2021
- Susan L Bostrom · Last reported as a director in an SEC filing dated Mar 1, 2021
- James J Cowie · Last reported as Sr. VP, General Counsel in an SEC filing dated Apr 24, 2020
- Mary Agnes Wilderotter · Last reported as a director in an SEC filing dated Feb 19, 2020
- Geoffrey G Ribar · Last reported as Sr. VP, CFO in an SEC filing dated Aug 30, 2017
- George Scalise · Last reported as a director in an SEC filing dated Feb 22, 2017
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.
CDNS Proposed Insider Sales (Form 144)
Latest: 2026-10-01
? Form 144 Guide
Last 30d:
0 filings
· Last 90d:
4 filings
· $2.5M notice value
· 3 unique filers
· 100% under 10b5-1 plans
What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.
How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.
10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.
"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.
Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.
Top 90-day filers:
PAUL CUNNINGHAM (1, $1.7M) · SANGIOVANNI VINCENTELLI ALBERTO (2, $839K) · Ita Brennan (1)
| Filed | Filer | Role | Shares | Notice Value | Planned Sale | Broker | Plan | Link |
|---|---|---|---|---|---|---|---|---|
| 2026-10-01 | SANGIOVANNI VINCENTELLI ALBERTO | Director | 1,250 | $437.6K | 2026-10-01 | Charles Schwab & Co., Inc. | 10b5-1 | EDGAR |
| 2026-09-15 | PAUL CUNNINGHAM | Officer | 6,000 | $1.67M | 2026-09-15 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2026-09-10 | Ita Brennan | Board Member | 180 | — | 2026-09-10 | J.P. Morgan Securities LLC | 10b5-1 | EDGAR |
| 2026-08-25 | SANGIOVANNI VINCENTELLI ALBERTO | Director | 1,250 | $401.1K | 2026-08-25 | Charles Schwab & Co., Inc. | 10b5-1 | EDGAR |
| 2026-06-15 | PAUL CUNNINGHAM | Officer | 6,000 | $2.31M | 2026-06-15 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2026-06-11 | PLUMMER FAMILY TRUST | Director | 1,511 | $581.9K | 2026-06-11 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2026-06-02 | ANIRUDH DEVGAN | Officer, Director | 25,005 | $10.38M | 2026-06-02 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2026-06-01 | PAUL SCANNELL | Officer | 7,966 | $2.99M | 2026-06-01 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2026-06-01 | ANIRUDH DEVGAN | Officer, Director | 51,822 | $20.47M | 2026-06-01 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2026-05-22 | CHIN-CHI TENG | Officer | 18,232 | $6.54M | 2026-05-22 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
Recent SEC Filings
Latest: 2026-10-28
Current reports — material events the company must disclose within 4 business days (earnings releases, M&A, executive changes, etc.).
| Filing Date | Event | Link |
|---|---|---|
| 2026-10-26 | Earnings results · Other events | EDGAR |
| 2026-07-27 | Earnings results | EDGAR |
| 2026-05-12 | Director or officer change · Shareholder vote results | EDGAR |
| 2026-04-27 | Earnings results | EDGAR |
| 2026-02-23 | Unregistered share sale | EDGAR |
| 2026-02-17 | Earnings results | EDGAR |
| 2025-11-17 | Director or officer change | EDGAR |
| 2025-10-27 | Earnings results | EDGAR |
| 2025-09-04 | Material agreement · Unregistered share sale | EDGAR |
| 2025-07-28 | Earnings results | EDGAR |
Annual report — audited financial statements, MD&A, risk factors. Filed 60–90 days after fiscal year-end.
Quarterly report — unaudited financials and MD&A. Filed 40–45 days after each of the first three fiscal quarters.
| Filing Date | Accession | Link |
|---|---|---|
| 2026-10-28 | 0000813672-26-000121 | EDGAR |
| 2026-07-29 | 0000813672-26-000092 | EDGAR |
| 2026-05-01 | 0000813672-26-000047 | EDGAR |
| 2025-10-29 | 0000813672-25-000148 | EDGAR |
| 2025-07-30 | 0000813672-25-000113 | EDGAR |
| 2025-04-30 | 0000813672-25-000051 | EDGAR |
| 2024-10-30 | 0000813672-24-000192 | EDGAR |
| 2024-07-24 | 0000813672-24-000155 | EDGAR |
| 2024-04-24 | 0000813672-24-000092 | EDGAR |
| 2023-10-23 | 0000813672-23-000068 | EDGAR |
ETF Holders
437 ETFs hold CDNS
25 shown · $16.29B total exposure · 0.26% AUM-weighted avg weight
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | VTI Vanguard Morningstar Total Stock Market ETF | Vanguard | 0.12% | $2.9B | — | 2026-09-30 |
| 2 | VOO Vanguard S&P 500 ETF | Vanguard | 0.14% | $2.4B | — | 2026-09-30 |
| 3 | QQQ Invesco QQQ Trust, Series 1 | Invesco | 0.41% | $1.8B | — | 2026-11-05 |
| 4 | SMH VanEck Semiconductor ETF | VanEck | 2.46% | $1.4B | $60.7B | 2026-11-05 |
| 5 | IVV iShares Core S&P 500 ETF | iShares (BlackRock) | 0.14% | $1.2B | $852.9B | 2026-11-06 |
| 6 | VUG Vanguard Morningstar Growth ETF | Vanguard | 0.27% | $1.1B | — | 2026-09-30 |
| 7 | SPY State Street® SPDR® S&P 500® ETF Trust | SPDR (State Street) | 0.14% | $1.1B | $777.7B | 2026-11-05 |
| 8 | VGT Vanguard Information Technology ETF | Vanguard | 0.38% | $671.6M | — | 2026-09-30 |
| 9 | XLK State Street® Technology Select Sector SPDR® ETF | SPDR (State Street) | 0.58% | $628.3M | $107.7B | 2026-11-05 |
| 10 | QQQM Invesco NASDAQ 100 ETF | Invesco | 0.41% | $412.6M | — | 2026-11-05 |
| 11 | IGV iShares Expanded Tech-Software Sector ETF | iShares (BlackRock) | 3.26% | $404.9M | $12.4B | 2026-11-06 |
| 12 | IWF iShares Russell 1000 Growth ETF | iShares (BlackRock) | 0.29% | $333.7M | $114.6B | 2026-11-06 |
| 13 | QUAL iShares MSCI USA Quality Factor ETF | iShares (BlackRock) | 0.54% | $255.3M | $47.6B | 2026-11-06 |
| 14 | SPYM State Street® SPDR® Portfolio S&P 500® ETF | SPDR (State Street) | 0.14% | $240.7M | $177.9B | 2026-11-05 |
| 15 | SCHG Schwab U.S. Large-Cap Growth ETF | Nport | 0.36% | $226.9M | — | 2026-08-31 |
| 16 | RSP Invesco S&P 500 Equal Weight ETF | Invesco | 0.22% | $220.0M | — | 2026-11-05 |
| 17 | MGK Vanguard Morningstar Mega Cap Growth ETF | Vanguard | 0.53% | $184.1M | — | 2026-09-30 |
| 18 | VONG Vanguard Russell 1000 Growth ETF | Vanguard | 0.27% | $148.8M | — | 2026-09-30 |
| 19 | CGGR Capital Group Growth ETF | Capitalgroup | 0.49% | $120.9M | $24.7B | 2026-11-05 |
| 20 | IVW iShares S&P 500 Growth ETF | iShares (BlackRock) | 0.16% | $118.2M | $71.7B | 2026-11-06 |
| 21 | ITOT iShares Core S&P Total U.S. Stock Market ETF | iShares (BlackRock) | 0.12% | $114.7M | $93.2B | 2026-11-06 |
| 22 | IYW iShares U.S. Technology ETF | iShares (BlackRock) | 0.49% | $111.4M | $22.6B | 2026-11-06 |
| 23 | VV Vanguard Morningstar Large-Cap ETF | Vanguard | 0.14% | $107.1M | — | 2026-09-30 |
| 24 | QTEC First Trust NASDAQ-100-Technology Sector Index Fund | First Trust | 2.40% | $102.0M | $4.3B | 2026-11-06 |
| 25 | SCHX Schwab U.S. Large-Cap ETF | Nport | 0.13% | $99.9M | — | 2026-08-31 |
Fundamentals
Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.
Metrics
- Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
- Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
- Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
- Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
- Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
- YoY growth — compare to the same quarter a year earlier to remove seasonality.
- Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
- Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.
TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.
Trailing P/E
66.77
TTM Diluted EPS
$5.03
TTM Revenue
$6.13B
TTM Net Income
$1.38B
TTM Op. Cash Flow
$1.97B
Quarterly figures (12 quarters)
| Quarter | Period End | Revenue | Net Income | Diluted EPS | Op. Cash Flow |
|---|---|---|---|---|---|
| Q3 '26 | 2026-09-30 | $1.63B | $289.75M | $1.05 | $423.73M |
| Q2 '26 | 2026-06-30 | $1.58B | $367.08M | $1.33 | $634.93M |
| Q1 '26 | 2026-03-31 | $1.47B | $335.66M | $1.23 | $355.78M |
| Q4 '25 | 2025-12-31 | $1.44B | $388.14M | $1.42 | $553.50M |
| Q3 '25 | 2025-09-30 | $1.34B | $287.12M | $1.05 | $310.66M |
| Q2 '25 | 2025-06-30 | $1.28B | $160.05M | $0.59 | $377.60M |
| Q1 '25 | 2025-03-31 | $1.24B | $273.58M | $1.00 | $487.02M |
| Q4 '24 | 2024-12-31 | $1.36B | $340.21M | $1.24 | $441.36M |
| Q3 '24 | 2024-09-30 | $1.22B | $238.11M | $0.87 | $410.00M |
| Q2 '24 | 2024-06-30 | $1.06B | $229.52M | $0.84 | $155.97M |
| Q1 '24 | 2024-03-31 | $1.01B | $247.64M | $0.91 | $253.23M |
| Q4 '23 | 2023-12-31 | $1.07B | $323.90M | $1.19 | $272.09M |
Q3 2026 • period ending 2026-09-30 • filed 2026-10-28
Valuation
Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.
Price Multiples
- P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
- P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
- P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
- EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
- EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
- ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
- ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
- Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
- FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
- Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
- Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
- Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
- Multiples expanding while earnings are flat = sentiment-driven rally.
- Multiples compressing while earnings grow = value coming from fundamentals.
P/E
66.77
P/B
13.43
P/S
15.78
EV/EBITDA
43.90
EV/Sales
15.96
ROE
20.1%
ROA
11.4%
Div Yield
0.00%
FCF Yield
2.01%
Debt/Equity
0.36
Current Ratio
—
Market Cap
$92.11B
as of 2026-11-09
CDNS vs Peers
Related companies, largest first| Company | Market cap | P/E | Revenue growth | YTD | IV rank |
|---|---|---|---|---|---|
| AAPL Apple Inc. | $4.98T | 39.2 | +15.1% | +29.7% | 16 |
| NVDA Nvidia Corp | $4.51T | 22.2 | +83.4% | −6.8% | 87 |
| MSFT Microsoft Corp | $3.94T | 28.5 | +17.9% | +15.3% | 11 |
| GOOGL Alphabet Inc. Class A Common Stock | $3.50T | 15.1 | +22.2% | −8.1% | 47 |
| META Meta Platforms, Inc. Class A Common Stoc | $1.56T | 22.0 | +27.5% | −1.0% | 27 |
| AVGO Broadcom Inc. Common Stock | $1.40T | 40.7 | +48.7% | −8.3% | 81 |
| AMD Advanced Micro Devices | $736.5B | 110.0 | +41.9% | +126.5% | 44 |
| CDNS Cadence Design Systems | $87.8B | 66.7 | +17.6% | +8.1% | 54 |
| Peer median | $3.50T | 28.5 | +27.5% | −1.0% | 44 |
P/E uses the latest reported trailing-12-month diluted EPS; "—" means no positive earnings or no data.
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
5.57M
SI % of Float
2.03%
Days to Cover
2.74
Short Vol Ratio
59.1%
Free Float
274.04M
Float %
99.5%
Short interest 2026-10-15 • Short volume 2026-11-06 • Float 2026-09-22