Anirudh Devgan Sells 51,887 Shares of Cadence Design Systems (NASDAQ:CDNS) Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) CEO Anirudh Devgan sold 51,887 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $370.00, for a total value of $19,198,190.00. Following the sale, the chief executive officer directly owned 303,525 shares in the company, valued at approximately $112,304,250. This represents a 14.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadence Design Systems Price Performance

NASDAQ:CDNS traded down $7.70 on Wednesday, reaching $374.05. 2,358,345 shares of the company’s stock traded hands, compared to its average volume of 2,460,275. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The stock has a 50-day simple moving average of $317.92 and a 200-day simple moving average of $312.02. The firm has a market cap of $103.17 billion, a PE ratio of 87.19, a P/E/G ratio of 4.42 and a beta of 1.13. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $383.80.

Cadence Design Systems (NASDAQ:CDNS) last posted 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. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the firm earned $1.57 earnings per share. The business’s quarterly revenue was up 18.6% on a year-over-year basis. 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. Equities research analysts forecast that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CDNS shares. Wells Fargo & Company lifted their target price on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a report on Wednesday. Morgan Stanley reduced their target price on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $360.00 target price on shares of Cadence Design Systems in a report on Friday, April 24th. Finally, Stifel Nicolaus set a $395.00 target price on Cadence Design Systems in a report on Wednesday, February 18th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $384.41.

Institutional Investors Weigh In On Cadence Design Systems

Several large investors have recently added to or reduced their stakes in CDNS. Brighton Jones LLC boosted its holdings in shares of Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock valued at $456,000 after purchasing an additional 676 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in shares of Cadence Design Systems by 3.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock valued at $560,000 after purchasing an additional 80 shares during the period. Thompson Davis & CO. Inc. purchased a new stake in Cadence Design Systems during the second quarter worth $205,000. NewEdge Advisors LLC lifted its holdings in Cadence Design Systems by 39.3% during the second quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock worth $10,720,000 after buying an additional 9,807 shares during the period. Finally, Glenview Trust co purchased a new stake in Cadence Design Systems during the second quarter worth $226,000. 84.85% of the stock is owned by 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.