Paul Scannell Sells 280 Shares of Cadence Design Systems (NASDAQ:CDNS) Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Scannell sold 280 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total transaction of $94,920.00. Following the completion of the sale, the vice president directly owned 31,720 shares of the company’s stock, valued at approximately $10,753,080. The trade was a 0.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 1st, Paul Scannell sold 7,081 shares of Cadence Design Systems stock. The stock was sold at an average price of $393.91, for a total transaction of $2,789,276.71.

Cadence Design Systems Stock Performance

CDNS opened at $340.39 on Friday. The firm’s fifty day simple moving average is $348.17 and its two-hundred day simple moving average is $333.27. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The company has a market cap of $93.74 billion, a price-to-earnings ratio of 67.67, a PEG ratio of 3.73 and a beta of 1.15. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.06. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the company earned $1.65 earnings per share. The company’s quarterly revenue was up 24.2% on a year-over-year basis. 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. Equities analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Benchmark reissued a “buy” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Weiss Ratings raised Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Bank of America boosted their price target on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Finally, Stifel Nicolaus increased their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average price target of $405.69.

Institutional Trading of Cadence Design Systems

A number of hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System boosted its holdings in shares of Cadence Design Systems by 37,856.6% during the 2nd quarter. California State Teachers Retirement System now owns 154,968,502 shares of the software maker’s stock worth $58,162,778,000 after purchasing an additional 154,560,224 shares during the last quarter. State Street Corp increased its holdings in shares of Cadence Design Systems by 1.1% in the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock valued at $3,939,561,000 after purchasing an additional 135,206 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cadence Design Systems by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock valued at $2,378,707,000 after purchasing an additional 92,152 shares during the last quarter. Van ECK Associates Corp lifted its position in Cadence Design Systems by 21.8% during the second quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker’s stock worth $1,835,227,000 after buying an additional 874,392 shares in the last quarter. Finally, Norges Bank purchased a new position in Cadence Design Systems during the fourth quarter worth approximately $1,352,922,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

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.