Key Points
- Cadence Design Systems VP Paul Cunningham sold 2,000 shares at an average price of $323.32, generating $646,640. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 124,586 shares.
- Cadence recently reported strong quarterly results, with adjusted EPS of $2.11 beating estimates by $0.06 and revenue rising 24.2% year over year to $1.58 billion.
- Wall Street maintains a “Moderate Buy” consensus, with 13 analysts rating the stock Buy and three Hold; the average price target is $405.69 versus a recent share price of $314.98.
Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $323.32, for a total value of $646,640.00. Following the completion of the sale, the vice president directly owned 124,586 shares in the company, valued at approximately $40,281,145.52. This represents a 1.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 Monday, June 15th, Paul Cunningham sold 2,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $391.00, for a total value of $782,000.00.
Cadence Design Systems Price Performance
Shares of CDNS opened at $314.98 on Thursday. The stock has a market capitalization of $86.74 billion, a P/E ratio of 62.62, a P/E/G ratio of 3.40 and a beta of 1.15. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company has a 50 day moving average of $356.42 and a 200-day moving average of $331.22. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping the consensus estimate of $2.05 by $0.06. The business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The firm's revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.65 earnings per share. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. As a group, equities research analysts forecast that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Avalon Trust Co bought a new stake in Cadence Design Systems in the 2nd quarter valued at $30,000. Fiduciary Financial Advisors acquired a new stake in shares of Cadence Design Systems during the 2nd quarter worth about $31,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Cadence Design Systems during the 4th quarter worth about $28,000. Arlington Trust Co LLC boosted its holdings in shares of Cadence Design Systems by 154.3% during the 2nd quarter. Arlington Trust Co LLC now owns 89 shares of the software maker's stock worth $33,000 after buying an additional 54 shares during the period. Finally, Imprint Wealth LLC acquired a new position in Cadence Design Systems in the 3rd quarter valued at about $31,000. 84.85% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on CDNS. Weiss Ratings raised Cadence Design Systems from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 30th. Piper Sandler boosted their price target on Cadence Design Systems from $325.00 to $349.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 28th. Morgan Stanley reissued an "overweight" rating and issued a $400.00 price objective on shares of Cadence Design Systems in a report on Wednesday, July 29th. Oppenheimer reissued a "market perform" rating and issued a $300.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Finally, Rosenblatt Securities boosted their target price on shares of Cadence Design Systems from $410.00 to $420.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $405.69.
Get Our Latest Research Report on CDNS
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.
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