Local Pensions Partnership Investment 13F: Cuts CDNS Stake by $9.2M
Key Points
- The firm trimmed its position in Cadence Design Systems, reducing its holdings by 27,800 shares, valued at approximately $9.2 million.
- Cadence shares recently traded around $322.17, which is about equal to the closing price on the filing date.
- Local Pensions Partnership holds 575,028 shares of Cadence, making up 5.9% of its overall portfolio.
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Local Pensions Partnership Investment trimmed its holdings in Cadence Design Systems, Inc. (CDNS) by 27,800 shares, bringing its total to 575,028 shares as of its latest Form 13F filing on October 26, 2026.
CDNS
Cadence Design Systems, Inc.
What Changed in Local Pensions Partnership's Cadence Design Systems Position
In its latest filing, Local Pensions Partnership reduced its stake in Cadence from 602,828 shares to 575,028 shares, marking a decrease of 4.6%. This change reflects the firm's ongoing strategy to adjust its investments as market conditions evolve.
Where Cadence Design Systems Fits in Local Pensions Partnership's Portfolio
Cadence now represents 5.9% of Local Pensions Partnership's overall portfolio, ranking 10th among its 33 positions.
Other Institutional Activity in Cadence Design Systems
RMR Wealth Builders added 3,080 shares to its position, totaling 9,599 shares valued at about $3.2 million. Van Eck Associates Corporation grew its stake by 874,520 shares, now holding 4,889,765 shares worth approximately $1.6 billion. Capital International Investors increased its holdings by 931,684 shares, bringing its total to 4,886,202 shares valued at about $1.6 billion.
Cadence Design Systems, Inc. Stock Up 1.8%
Cadence shares are currently trading around $322.17, which is about equal to the closing price on October 26, 2026. The stock is below its 200-day moving average of $327.20 and approximately 22.7% below its 52-week high of $416.69.
Recent Earnings
Cadence reported trailing twelve-month revenue of about $5.8 billion, with an earnings per share (EPS) of $5.03. The company has shown strong performance, with a year-over-year revenue growth of 24.2%. Its next earnings report is scheduled for February 18, 2027.
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.
Several insiders sold shares in Cadence recently. On September 10, 2026, Director Ita M. Brennan sold 180 shares valued at about $51,392. Officer Paul Alexander Cunningham sold 2,000 shares at an average price of $277.12 on September 15, totaling approximately $554,240. Additionally, Director Vincentelli Alberto Sangiovanni sold 1,250 shares on October 1 at an average price of $350.07, valued at about $437,590. Lastly, Sr. Vice President Paul Cunningham sold 2,000 shares on October 15 at an average price of $324.13, totaling around $648,260.
Analysts Set New Price Targets
On October 23, 2026, Rosenblatt maintained a Buy rating on Cadence with a price target of $420. Other firms, including B of A Securities and Citigroup, have also maintained their Buy ratings with targets set at $420. The consensus among analysts is a strong buy, with a mean price target of $406.24.
About Cadence Design Systems
Cadence Design Systems, Inc. develops software, hardware, and intellectual property products for electronic design automation. The company plays a vital role in helping businesses design and test their electronic systems more effectively, which is crucial in the fast-evolving tech landscape.
Bottom Line
Investors should watch for Cadence's upcoming earnings report on February 18, 2027, as it may provide insights into the company's continued growth. Additionally, further filings may reveal more about Local Pensions Partnership's strategies in the future.
Related Filing Alerts
Source: Local Pensions Partnership Investment's 13F filing on $CDNS (Oct 26, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts