Key Points
- Cadence Design Systems VP Paul Cunningham sold 2,000 shares on June 15 at an average price of $391 each, generating about $782,000. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Cunningham still held 126,586 shares valued at roughly $49.5 million, representing a 1.56% reduction in his position. He has also sold shares earlier this year in April and May.
- Cadence reported better-than-expected quarterly results, with EPS of $1.96 topping estimates and revenue rising 18.6% year over year. Analysts remain constructive overall, with a consensus rating of Moderate Buy and an average target price of $386.59.
Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) VP Paul Cunningham sold 2,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $391.00, for a total transaction of $782,000.00. Following the sale, the vice president owned 126,586 shares in the company, valued at $49,495,126. This represents a 1.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paul Cunningham also recently made the following trade(s):
- On Friday, May 1st, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $337.49, for a total transaction of $337,490.00.
- On Wednesday, April 1st, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $280.19, for a total transaction of $280,190.00.
Cadence Design Systems Stock Performance
NASDAQ CDNS opened at $389.60 on Thursday. 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 firm has a market capitalization of $107.46 billion, a price-to-earnings ratio of 90.82, a P/E/G ratio of 4.59 and a beta of 1.15. The firm's 50 day simple moving average is $351.03 and its 200 day simple moving average is $320.63. 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 posted its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted $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. As a group, research analysts expect that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of analysts have weighed in on CDNS shares. Citigroup raised their target price on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. KeyCorp raised their target price on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Rosenblatt Securities restated a "buy" rating and issued a $360.00 target price on shares of Cadence Design Systems in a research report on Friday, April 24th. Robert W. Baird raised their target price on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. Finally, Piper Sandler raised their target price on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a "neutral" rating in a research report on Tuesday, April 28th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems has an average rating of "Moderate Buy" and a consensus target price of $386.59.
Check Out Our Latest Stock Analysis on CDNS
Hedge Funds Weigh In On Cadence Design Systems
A number of hedge funds have recently modified their holdings of the business. Lombard Odier Asset Management Europe Ltd lifted its holdings in shares of 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 purchasing an additional 12,495 shares during the period. Rathbones Group PLC lifted its holdings in shares of 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 purchasing an additional 16,832 shares during the period. Groupama Asset Managment lifted its holdings in Cadence Design Systems by 5.1% in the first quarter. Groupama Asset Managment now owns 67,891 shares of the software maker's stock valued at $18,865,000 after buying an additional 3,286 shares during the period. Western Wealth Management LLC lifted its holdings in Cadence Design Systems by 63.7% in the first quarter. Western Wealth Management LLC now owns 1,185 shares of the software maker's stock valued at $329,000 after buying an additional 461 shares during the period. Finally, Centaurus Financial Inc. lifted its holdings in Cadence Design Systems by 48.4% in the first quarter. Centaurus Financial Inc. now owns 917 shares of the software maker's stock valued at $255,000 after buying an additional 299 shares during the period. Institutional investors and hedge funds own 84.85% of the company's stock.
Cadence Design Systems Company Profile
(
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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