Insider Selling: Cadence Design Systems (NASDAQ:CDNS) VP Sells 1,071 Shares of Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Scannell sold 1,071 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $345.06, for a total transaction of $369,559.26. Following the completion of the sale, the vice president directly owned 32,181 shares of the company’s stock, valued at $11,104,375.86. This represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 1st, Paul Scannell sold 10,500 shares of Cadence Design Systems stock. The stock was sold at an average price of $339.00, for a total transaction of $3,559,500.00.

Cadence Design Systems Trading Up 3.8%

Cadence Design Systems stock traded up $12.77 during mid-day trading on Wednesday, hitting $350.89. The company’s stock had a trading volume of 2,026,531 shares, compared to its average volume of 2,476,447. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. The stock has a market cap of $96.78 billion, a price-to-earnings ratio of 81.79, a price-to-earnings-growth ratio of 4.10 and a beta of 1.13. The business has a 50 day moving average price of $308.79 and a 200-day moving average price of $310.50. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating the consensus estimate of $1.91 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm 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. As a group, analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Hedge Funds Weigh In On Cadence Design Systems

Several hedge funds and other institutional investors have recently modified their holdings of CDNS. Y.D. More Investments Ltd purchased a new position in shares of Cadence Design Systems during the third quarter valued at about $26,000. Whipplewood Advisors LLC increased its position in shares of Cadence Design Systems by 933.3% during the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after buying an additional 84 shares during the period. Brown Lisle Cummings Inc. increased its position in shares of Cadence Design Systems by 860.0% during the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock valued at $27,000 after buying an additional 86 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Cadence Design Systems during the fourth quarter valued at about $28,000. Finally, Caitlin John LLC purchased a new position in shares of Cadence Design Systems during the third quarter valued at about $29,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CDNS. Citigroup upped their price objective on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Piper Sandler upped their price objective on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $360.00 price objective on shares of Cadence Design Systems in a research note on Friday, April 24th. Finally, Stifel Nicolaus set a $395.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, February 18th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $380.59.

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.