Cadence Design Systems (NASDAQ:CDNS) VP Paul Cunningham Sells 1,000 Shares of Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $340.26, for a total value of $340,260.00. Following the transaction, the vice president directly owned 98,067 shares of the company’s stock, valued at $33,368,277.42. The trade was a 1.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, October 1st, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $348.27, for a total value of $348,270.00.
• On Tuesday, September 2nd, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $343.95, for a total value of $343,950.00.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $327.63 on Thursday. The company has a market cap of $89.18 billion, a P/E ratio of 84.44, a P/E/G ratio of 4.55 and a beta of 1.00. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The business has a fifty day simple moving average of $345.46 and a 200-day simple moving average of $327.46.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 earnings per share. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. Equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CDNS shares. Loop Capital boosted their price target on Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a research note on Wednesday, July 30th. Oppenheimer boosted their price objective on Cadence Design Systems from $200.00 to $225.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 28th. Piper Sandler reiterated a “neutral” rating and issued a $355.00 price target (up previously from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. upped their target price on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Fourteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average target price of $376.00.

Institutional Investors Weigh In On Cadence Design Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Tiemann Investment Advisors LLC lifted its holdings in shares of Cadence Design Systems by 2.9% during the second quarter. Tiemann Investment Advisors LLC now owns 1,050 shares of the software maker’s stock valued at $324,000 after purchasing an additional 30 shares during the last quarter. Occidental Asset Management LLC boosted its stake in Cadence Design Systems by 2.3% in the 3rd quarter. Occidental Asset Management LLC now owns 1,321 shares of the software maker’s stock worth $464,000 after purchasing an additional 30 shares during the period. Whittier Trust Co. grew its position in Cadence Design Systems by 0.4% during the 3rd quarter. Whittier Trust Co. now owns 7,072 shares of the software maker’s stock worth $2,456,000 after purchasing an additional 30 shares in the last quarter. Petros Family Wealth LLC raised its stake in Cadence Design Systems by 2.6% during the 2nd quarter. Petros Family Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $394,000 after purchasing an additional 32 shares during the period. Finally, Hemington Wealth Management raised its stake in Cadence Design Systems by 14.0% during the 2nd quarter. Hemington Wealth Management now owns 261 shares of the software maker’s stock valued at $80,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

About Cadence Design Systems

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.