Key Points
- CFO John Wall sold 27,805 shares on Dec. 16 at an average price of $318.57 for proceeds of $8.86 million, reducing his stake by 28.44% to 69,957 shares (~$22.29M), as disclosed in an SEC filing.
- Cadence recently beat Q3 estimates with $1.93 EPS and $1.34B revenue (up 10.1% YoY), set FY2025 EPS guidance of $7.02–7.08, and trades with a market cap of $85.8B and a P/E around 81 while analysts’ consensus is a “Moderate Buy” with an average target near $379.
Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) CFO John Wall sold 27,805 shares of the business's stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total value of $8,857,838.85. Following the completion of the sale, the chief financial officer directly owned 69,957 shares in the company, valued at approximately $22,286,201.49. This represents a 28.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Cadence Design Systems Stock Up 0.7%
Shares of NASDAQ:CDNS opened at $315.10 on Friday. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $324.28 and a two-hundred day simple moving average of $330.88. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The stock has a market capitalization of $85.77 billion, a price-to-earnings ratio of 81.21, a PEG ratio of 4.03 and a beta of 1.05.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (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 firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm earned $1.64 EPS. Cadence Design Systems's quarterly 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. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Cadence Design Systems
A number of large investors have recently bought and sold shares of CDNS. Y.D. More Investments Ltd purchased a new position in shares of Cadence Design Systems during the third quarter valued at $26,000. Saudi Central Bank purchased a new stake in Cadence Design Systems during the first quarter worth $27,000. Caitlin John LLC purchased a new position in shares of Cadence Design Systems in the 3rd quarter valued at approximately $29,000. Barrett & Company Inc. acquired a new position in shares of Cadence Design Systems in the 2nd quarter valued at about $31,000. Finally, Imprint Wealth LLC purchased a new position in Cadence Design Systems during the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 84.85% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Cadence Design Systems from $390.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, October 28th. Wall Street Zen downgraded Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. Citigroup assumed coverage on Cadence Design Systems in a research report on Monday, November 24th. They issued a "buy" rating and a $385.00 target price for the company. Oppenheimer upgraded shares of Cadence Design Systems from an "underperform" rating to a "market perform" rating and set a $275.00 price target for the company in a research note on Monday, December 1st. Finally, Rosenblatt Securities raised their target price on Cadence Design Systems from $320.00 to $335.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 28th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Cadence Design Systems currently has an average rating of "Moderate Buy" and an average price target of $379.11.
Read Our Latest Research Report on Cadence Design Systems
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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