FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * GAVRIELOV MOSHE   2. Issuer Name and Ticker or Trading Symbol CADENCE DESIGN SYSTEMS INC [CDNS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP, GM, Verification Division (Last) (First) (Middle) 2655 SEELY AVENUE, BLDG. 5 3. Date of Earliest Transaction (Month/Day/Year) 05/15/2007 (Street) SAN JOSE, CA 95134 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 05/15/2007   M   4,753 (1) A $ 16.83 167,575 D   Common Stock 05/15/2007   M   74,558 (1) D $ 16.83 242,133 D   Common Stock 05/15/2007   S   34,000 (1) D $ 21.726 208,133 D   Common Stock 05/15/2007   S   8,000 (1) D $ 21.8365 200,133 D   Common Stock 05/15/2007   S   8,000 (1) D $ 21.8883 192,133 D   Common Stock 05/15/2007   S   5,000 (1) D $ 21.9415 187,133 D   Common Stock 05/15/2007   S   24,311 (1) D $ 22 162,822 D   Common Stock 05/15/2007   M   25,000 (1) A $ 16.525 187,822 D   Common Stock 05/15/2007   S   3,000 (1) D $ 21.8092 184,822 D   Common Stock 05/15/2007   S   12,000 (1) D $ 21.6937 172,822 D   Common Stock 05/15/2007   S   10,000 (1) D $ 21.7136 162,822 D   Common Stock 05/15/2007   M   75,000 (1) A $ 13.855 237,822 D   Common Stock 05/15/2007   S   15,000 (1) D $ 21.7702 222,822 D   Common Stock 05/15/2007   S   5,000 (1) D $ 21.8304 217,822 D   Common Stock 05/15/2007   S   10,000 (1) D $ 21.8669 207,822 D   Common Stock 05/15/2007   S   8,500 (1) D $ 21.8882 199,322 D   Common Stock 05/15/2007   S   6,500 (1) D $ 21.838 192,822 D   Common Stock 05/15/2007   S   10,000 (1) D $ 21.8058 182,822 D   Common Stock 05/15/2007   S   10,000 (1) D $ 21.846 172,822 D   Common Stock 05/15/2007   S   10,000 (1) D $ 21.8518 162,822 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Incentive Stock Option (Right to buy)

$ 16.83

05/15/2007

M

4,753 (1)

(2)

05/29/2013

Common Stock

4,753

$ 0

1,189

D

Non-Qualified Stock Option (Right to buy)

$ 16.83

05/15/2007

M

74,558 (1)

(2)

05/29/2013

Common Stock

74,558

$ 0

499

D

Non-Qualified Stock Option (right to buy)

$ 13.855

05/15/2007

M

75,000 (1)

(3)

04/15/2015

Common Stock

75,000

$ 0

150,000

D

Non-Qualified Stock Option (Right to buy)

$ 16.525

05/15/2007

M

25,000 (1)

(4)

02/08/2016

Common Stock

25,000

$ 0

75,000

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
GAVRIELOV MOSHE 2655 SEELY AVENUE, BLDG. 5 SAN JOSE, CA 95134			EVP, GM, Verification Division

Signatures

R.L. Smith McKeithen, Attorney-in-Fact for Moshe Gavrielov		05/15/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on May 8, 2006 and amended on February 27, 2007.
(2)	Option was granted on May 29, 2003 and is vesting at a rate of 1/48th per month.
(3)	Option was granted on April 15, 2005 and is vesting at a rate of 1/48th per month.
(4)	Option was granted on February 8, 2006 and is vesting at a rate of 1/48th per month.

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