Key Points
- Director Ita Brennan sold 180 shares of Cadence Design Systems on June 10 at an average price of $387.45, totaling about $69,741. The sale reduced her direct holdings by 2.2%, and it was made under a pre-arranged Rule 10b5-1 plan.
- Cadence reported solid quarterly results, with earnings of $1.96 per share and revenue of $1.47 billion, both slightly ahead of analyst expectations. Revenue rose 18.6% year over year, and the company raised guidance for FY2026 and Q2 2026.
- Wall Street remains broadly positive on CDNS, with 14 Buy ratings and three Hold ratings. Recent analyst target changes ranged from $370 to $440, and the consensus price target is $386.59.
Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) Director Ita Brennan sold 180 shares of the business's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the transaction, the director directly owned 8,004 shares of the company's stock, valued at approximately $3,101,149.80. The trade was a 2.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cadence Design Systems Stock Up 0.3%
Shares of NASDAQ CDNS opened at $384.96 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The company has a market cap of $106.18 billion, a price-to-earnings ratio of 89.73, a PEG ratio of 4.54 and a beta of 1.15. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69. The stock has a 50-day moving average price of $344.32 and a two-hundred day moving average price of $318.73.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The business's quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the business 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 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts have recently weighed in on CDNS shares. Piper Sandler boosted their price target on Cadence Design Systems from $319.00 to $325.00 and gave the stock a "neutral" rating in a report on Tuesday, April 28th. Stifel Nicolaus boosted their price target on Cadence Design Systems from $395.00 to $432.00 and gave the stock a "buy" rating in a report on Tuesday. Morgan Stanley reduced their price target on Cadence Design Systems from $385.00 to $370.00 and set an "overweight" rating on the stock in a report on Wednesday, February 18th. Citigroup boosted their price target on Cadence Design Systems from $385.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Finally, Berenberg Bank set a $440.00 price target on Cadence Design Systems in a report on Wednesday, May 27th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Cadence Design Systems currently has an average rating of "Moderate Buy" and a consensus target price of $386.59.
Read Our Latest Stock Report on Cadence Design Systems
Hedge Funds Weigh In On Cadence Design Systems
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Cadence Design Systems by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker's stock worth $8,511,888,000 after buying an additional 307,753 shares in the last quarter. State Street Corp boosted its holdings in shares of Cadence Design Systems by 1.1% during the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker's stock worth $3,939,561,000 after buying an additional 135,206 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cadence Design Systems by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker's stock worth $2,378,707,000 after buying an additional 92,152 shares in the last quarter. Norges Bank bought a new position in shares of Cadence Design Systems during the 4th quarter worth approximately $1,352,922,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Cadence Design Systems by 11.9% during the 4th quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker's stock worth $1,104,714,000 after buying an additional 376,654 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.
Cadence Design Systems Company Profile
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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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