Key Points
- Paul Cunningham, a Cadence VP, sold 1,000 shares on Dec. 1 at an average price of $312.64 for $312,640, leaving him with 97,067 shares (a 1.02% drop in his ownership).
- Cadence beat Q3 expectations with $1.93 EPS vs. $1.79 expected and $1.34B in revenue (up 10.1% year-over-year), and issued FY2025 guidance of 7.020–7.080 EPS and Q4 guidance of 1.880–1.940 EPS.
- Wall Street sentiment is largely positive — consensus is a "Moderate Buy" with an average price target of $379.11, while the stock trades at a market cap of about $91.5B and a PE of 86.6.
Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $312.64, for a total transaction of $312,640.00. Following the sale, the vice president owned 97,067 shares in the company, valued at $30,347,026.88. This trade represents a 1.02% decrease in their ownership of the stock. 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 Monday, November 3rd, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $340.26, for a total transaction of $340,260.00.
- 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.
Cadence Design Systems Stock Up 5.7%
CDNS stock opened at $336.11 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The firm has a market cap of $91.49 billion, a PE ratio of 86.63, a P/E/G ratio of 3.98 and a beta of 1.05. The firm has a 50 day simple moving average of $328.98 and a 200 day simple moving average of $329.53.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping the consensus estimate of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter last year, the firm posted $1.64 earnings per share. Cadence Design Systems's revenue was up 10.1% compared to the same quarter last year. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 EPS. Equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have issued reports on CDNS. Wolfe Research reiterated an "outperform" rating and issued a $385.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. JPMorgan Chase & Co. boosted their target price on Cadence Design Systems from $390.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday, October 28th. BNP Paribas Exane initiated coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They set an "outperform" rating and a $400.00 price target for the company. Rosenblatt Securities increased their price objective on Cadence Design Systems from $320.00 to $335.00 and gave the stock a "neutral" rating in a report on Tuesday, October 28th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $390.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $379.11.
Check Out Our Latest Stock Report on CDNS
Institutional Trading of Cadence Design Systems
Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in Cadence Design Systems by 10.9% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker's stock valued at $44,064,000 after acquiring an additional 14,022 shares in the last quarter. Westerkirk Capital Inc. acquired a new stake in shares of Cadence Design Systems during the second quarter worth $2,024,000. EFG Asset Management North America Corp. bought a new stake in shares of Cadence Design Systems in the 2nd quarter valued at about $4,073,000. Charles Schwab Investment Management Inc. raised its holdings in Cadence Design Systems by 4.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,779,848 shares of the software maker's stock worth $452,669,000 after purchasing an additional 73,719 shares during the period. Finally, Nuveen LLC bought a new position in Cadence Design Systems during the first quarter worth about $289,744,000. 84.85% of the stock is owned by institutional investors.
Cadence Design Systems Company Profile
(
Get Free Report)
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.
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