Cadence Design Systems (NASDAQ:CDNS) VP Sells $369,559.26 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Scannell sold 1,071 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $345.06, for a total transaction of $369,559.26. Following the transaction, the vice president owned 32,181 shares of the company’s stock, valued at $11,104,375.86. This trade represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paul Scannell also recently made the following trade(s):

• On Friday, May 1st, Paul Scannell sold 10,500 shares of Cadence Design Systems stock. The shares were sold at an average price of $339.00, for a total transaction of $3,559,500.00.

Cadence Design Systems Price Performance

Shares of CDNS traded up $12.77 during mid-day trading on Wednesday, reaching $350.89. 2,026,531 shares of the stock traded hands, compared to its average volume of 2,476,447. The firm has a fifty day moving average price of $308.79 and a 200 day moving average price of $310.50. The company has a market cap of $96.78 billion, a price-to-earnings ratio of 81.79, a price-to-earnings-growth ratio of 4.10 and a beta of 1.13. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 EPS. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. As a group, equities research analysts predict that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CDNS. KeyCorp boosted their price target on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Morgan Stanley cut their target price on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Wells Fargo & Company upped their target price on shares of Cadence Design Systems from $375.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Stifel Nicolaus set a $395.00 target price on shares of Cadence Design Systems in a research report on Wednesday, February 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and an average target price of $380.59.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDNS. Y.D. More Investments Ltd bought a new stake in Cadence Design Systems in the third quarter worth $26,000. Whipplewood Advisors LLC lifted its stake in Cadence Design Systems by 933.3% in the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares during the last quarter. Brown Lisle Cummings Inc. lifted its stake in Cadence Design Systems by 860.0% in the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in Cadence Design Systems in the fourth quarter worth $28,000. Finally, Caitlin John LLC bought a new stake in Cadence Design Systems in the third quarter worth $29,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

About Cadence Design Systems

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.