Key Points
- Cadence Design Systems VP Paul Scannell sold 1,071 shares on May 18 at an average price of $345.06, totaling about $369,559. The trade was made under a pre-arranged Rule 10b5-1 plan, and he now owns 32,181 shares.
- Scannell also sold 10,500 shares earlier on May 1 for about $3.56 million, indicating a larger recent reduction in his Cadence stake.
- Cadence reported better-than-expected quarterly results, with EPS of $1.96 and revenue of $1.47 billion, and management raised guidance for FY2026. Analysts remain constructive, with a consensus rating of Moderate Buy and an average price target of $380.59.
Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) VP Paul Scannell sold 1,071 shares of the business's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $345.06, for a total value of $369,559.26. Following the completion of the transaction, the vice president owned 32,181 shares in the company, valued at $11,104,375.86. This trade represents a 3.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 shares were sold at an average price of $339.00, for a total value of $3,559,500.00.
Cadence Design Systems Stock Performance
Shares of NASDAQ CDNS opened at $350.89 on Thursday. The business's 50-day moving average price is $309.84 and its two-hundred day moving average price is $310.60. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $376.45. The company has a market capitalization of $96.78 billion, a P/E ratio of 81.79, a price-to-earnings-growth ratio of 4.00 and a beta of 1.13.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.91 by $0.05. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. The business's quarterly revenue was up 18.6% compared to the same quarter last year. 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. Analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Cadence Design Systems
Large investors have recently made changes to their positions in the business. Y.D. More Investments Ltd acquired a new position in shares of Cadence Design Systems during the 3rd quarter worth about $26,000. Whipplewood Advisors LLC lifted its position in shares of Cadence Design Systems by 933.3% during the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker's stock worth $26,000 after purchasing an additional 84 shares during the last quarter. Brown Lisle Cummings Inc. lifted its position in shares of Cadence Design Systems by 860.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker's stock worth $27,000 after purchasing an additional 86 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Cadence Design Systems during the 4th quarter worth about $28,000. Finally, Caitlin John LLC acquired a new position in shares of Cadence Design Systems during the 3rd quarter worth about $29,000. Institutional investors and hedge funds own 84.85% of the company's stock.
Analysts Set New Price Targets
Several analysts have recently issued reports on CDNS shares. Stifel Nicolaus set a $395.00 price target on Cadence Design Systems in a research note on Wednesday, February 18th. Wells Fargo & Company upped their price target on Cadence Design Systems from $375.00 to $400.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. Robert W. Baird upped their price target on Cadence Design Systems from $381.00 to $385.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Citigroup upped their price target on Cadence Design Systems from $385.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $380.59.
Check Out Our Latest Analysis on CDNS
About Cadence Design Systems
(
Get Free Report)
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.
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