Cadence Design Systems (NASDAQ:CDNS) Director Ita Brennan Sells 180 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNS) Director Ita Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $285.51, for a total value of $51,391.80. Following the completion of the sale, the director directly owned 7,824 shares in the company, valued at $2,233,830.24. This represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadence Design Systems Stock Down 3.6%

NASDAQ:CDNS opened at $279.06 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. The company has a market cap of $76.85 billion, a PE ratio of 55.48, a PEG ratio of 3.10 and a beta of 1.14. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The stock has a 50-day simple moving average of $330.91 and a 200 day simple moving average of $333.80.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating the consensus estimate of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the business posted $1.65 EPS. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. On average, sell-side analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Analysts Set New Price Targets

CDNS has been the subject of a number of analyst reports. Benchmark reaffirmed a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Bank of America lifted their target price on Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Robert W. Baird increased their price target on Cadence Design Systems from $415.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, July 28th. Finally, Oppenheimer restated a “market perform” rating and issued a $300.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average target price of $403.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC lifted its holdings in shares of Cadence Design Systems by 58.2% in the second quarter. Sequoia Financial Advisors LLC now owns 16,776 shares of the software maker’s stock worth $6,296,000 after acquiring an additional 6,169 shares during the last quarter. IPG Investment Advisors LLC bought a new stake in shares of Cadence Design Systems during the 2nd quarter valued at approximately $1,902,000. National Pension Service increased its position in Cadence Design Systems by 0.9% during the 2nd quarter. National Pension Service now owns 760,715 shares of the software maker’s stock worth $285,512,000 after purchasing an additional 6,755 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its position in Cadence Design Systems by 22.0% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,260 shares of the software maker’s stock worth $473,000 after purchasing an additional 227 shares in the last quarter. Finally, NorthRock Partners LLC lifted its stake in Cadence Design Systems by 8.6% in the 2nd quarter. NorthRock Partners LLC now owns 1,807 shares of the software maker’s stock valued at $678,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

About Cadence Design Systems

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware and semiconductor intellectual property (IP). Its products help engineers design, verify and analyze integrated circuits, printed circuit boards and complete electronic systems.

The company offers solutions spanning digital and custom IC design, functional verification, digital and analog simulation, emulation and prototyping, system analysis, and 3D computational fluid dynamics.