James Plummer Sells 1,511 Shares of Cadence Design Systems (NASDAQ:CDNS) Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) Director James Plummer sold 1,511 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the transaction, the director directly owned 23,264 shares in the company, valued at $8,871,493.76. This trade represents a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $387.85 on Wednesday. The stock’s fifty day moving average is $348.82 and its two-hundred day moving average is $320.05. The firm has a market capitalization of $106.98 billion, a P/E ratio of 90.41, a price-to-earnings-growth ratio of 4.67 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.57 earnings per share. 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. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Institutional Investors Weigh In On Cadence Design Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Cadence Design Systems by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock worth $8,511,888,000 after purchasing an additional 307,753 shares during the period. State Street Corp increased its holdings in Cadence Design Systems by 1.1% during the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock worth $3,939,561,000 after purchasing an additional 135,206 shares during the period. Geode Capital Management LLC increased its holdings in Cadence Design Systems by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock worth $2,378,707,000 after purchasing an additional 92,152 shares during the period. Norges Bank acquired a new position in shares of Cadence Design Systems during the 4th quarter worth about $1,352,922,000. Finally, Van ECK Associates Corp raised its stake in shares of Cadence Design Systems by 11.9% during the 4th quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock worth $1,104,714,000 after buying an additional 376,654 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CDNS. KeyCorp boosted their price objective on Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Morgan Stanley lowered their price objective on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Robert W. Baird boosted their price objective on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Piper Sandler boosted their price objective on Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Finally, Citigroup boosted their price objective on Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $386.59.

Cadence Design Systems Company Profile

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.