Cadence Design Systems (NASDAQ:CDNS) Issues Quarterly Earnings Results

Cadence Design Systems (NASDAQ:CDNS) posted its earnings results on Monday. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.06, FiscalAI reports. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Cadence Design Systems updated its FY 2026 guidance to 8.050-8.150 EPS and its Q3 2026 guidance to 2.010-2.070 EPS.

Cadence Design Systems Stock Up 3.8%

CDNS stock traded up $12.37 during mid-day trading on Monday, reaching $338.61. The company had a trading volume of 3,611,496 shares, compared to its average volume of 2,462,517. Cadence Design Systems has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. The company has a market capitalization of $93.40 billion, a price-to-earnings ratio of 78.93, a price-to-earnings-growth ratio of 3.86 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. The firm has a fifty day simple moving average of $373.92 and a 200 day simple moving average of $329.47.

Insider Activity

In related news, CEO Anirudh Devgan sold 25,005 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total value of $10,377,075.00. Following the sale, the chief executive officer owned 253,519 shares of the company’s stock, valued at $105,210,385. This trade represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the completion of the sale, the director owned 8,004 shares in the company, valued at $3,101,149.80. The trade was a 2.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 157,057 shares of company stock valued at $60,272,277. 0.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cadence Design Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in 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 acquiring an additional 676 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Cadence Design Systems by 3.8% during the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock worth $560,000 after purchasing an additional 80 shares during the last quarter. Thompson Davis & CO. Inc. purchased a new position in shares of Cadence Design Systems during the second quarter worth about $205,000. NewEdge Advisors LLC boosted its position in shares of Cadence Design Systems by 39.3% in the 2nd quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock valued at $10,720,000 after purchasing an additional 9,807 shares during the period. Finally, Glenview Trust co acquired a new stake in shares of Cadence Design Systems in the second quarter valued at approximately $226,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on CDNS. Benchmark assumed coverage on shares of Cadence Design Systems in a report on Wednesday, July 15th. They issued a “buy” rating and a $450.00 price objective on the stock. Stifel Nicolaus increased their target price on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Citigroup lifted their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. KeyCorp increased their price objective on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $400.00 target price on shares of Cadence Design Systems in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

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.