Pictet Asset Management Holding SA Trims Stock Position in Cadence Design Systems, Inc. $CDNS - MarketBeat

In the first quarter of 2026, Pictet Asset Management Holding SA reduced its stake in Cadence Design Systems (CDNS) by 18.3%, selling 279,759 shares and leaving it with 1,247,222 shares valued at appr... Read original →

Pictet’s trimming of Cadence reflects tactical portfolio rebalancing amid elevated valuations, not weakening fundamentals. As a top-three EDA vendor, Cadence’s AI-accelerated digital flow directly boosts foundry utilization at TSMC and Samsung, accelerating N3/N2 adoption by SoC designers in Taiwan, China, and South Korea. Although U.S. export controls don’t yet explicitly restrict EDA, heightened compliance scrutiny is increasing deployment costs for global clients, pushing Cadence toward cloud licensing and localized infrastructure. Synopsys will likely counter with tighter bundling of Fusion Compiler and DSO.ai, while Siemens EDA targets automotive verification niches. Over the next 18 months, Cadence’s leadership in multi-physics co-simulation for chiplet and 3D-IC integration will translate into structural pricing power—justifying its premium P/E multiple.