Key Points
- Cadence Design Systems director James Plummer sold 1,511 shares on June 11 at an average price of $381.34, totaling about $576,205. The sale reduced his direct holdings by 6.10%, and it was made under a pre-arranged Rule 10b5-1 plan.
- The company recently reported better-than-expected quarterly results, with EPS of $1.96 versus $1.91 expected and revenue of $1.47 billion, up 18.6% year over year. Cadence also issued FY 2026 EPS guidance of $7.85 to $7.95.
- Wall Street remains broadly positive on CDNS, with 14 Buy ratings and 3 Hold ratings, giving the stock a consensus “Moderate Buy” and a consensus price target of $386.59. Several analysts recently raised their targets, including Berenberg at $440 and Citi at $400.
Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) Director James Plummer sold 1,511 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total value of $576,204.74. Following the sale, the director directly owned 23,264 shares in the company, valued at approximately $8,871,493.76. The trade was a 6.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cadence Design Systems Stock Performance
CDNS opened at $394.50 on Tuesday. The business has a 50 day moving average price of $346.64 and a two-hundred day moving average price of $319.47. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. The company has a market capitalization of $108.81 billion, a price-to-earnings ratio of 91.96, a price-to-earnings-growth ratio of 4.56 and a beta of 1.15. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same period last year, the firm earned $1.57 EPS. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. 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. Research analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently commented on CDNS shares. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a research note on Wednesday, May 27th. Citigroup boosted their price objective 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. Robert W. Baird boosted their price objective 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. 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, April 28th. Finally, Piper Sandler boosted their price objective on Cadence Design Systems from $319.00 to $325.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 28th. Fourteen investment 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $386.59.
Read Our Latest Analysis on Cadence Design Systems
Institutional Trading of Cadence Design Systems
A number of large investors have recently added to or reduced their stakes in the business. Lombard Odier Asset Management Europe Ltd boosted its holdings in Cadence Design Systems by 30.9% during the first quarter. Lombard Odier Asset Management Europe Ltd now owns 52,941 shares of the software maker's stock worth $14,711,000 after buying an additional 12,495 shares in the last quarter. Rathbones Group PLC boosted its holdings in Cadence Design Systems by 2.7% during the first quarter. Rathbones Group PLC now owns 633,384 shares of the software maker's stock worth $175,998,000 after buying an additional 16,832 shares in the last quarter. Groupama Asset Managment boosted its holdings in Cadence Design Systems by 5.1% during the first quarter. Groupama Asset Managment now owns 67,891 shares of the software maker's stock worth $18,865,000 after buying an additional 3,286 shares in the last quarter. Western Wealth Management LLC boosted its holdings in Cadence Design Systems by 63.7% during the first quarter. Western Wealth Management LLC now owns 1,185 shares of the software maker's stock worth $329,000 after buying an additional 461 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its holdings in Cadence Design Systems by 48.4% during the first quarter. Centaurus Financial Inc. now owns 917 shares of the software maker's stock worth $255,000 after buying an additional 299 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.
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.
Further Reading
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