Key Points
- Cadence Design Systems director Vincentelli Albert Sangiovanni sold 1,250 shares at an average price of $320.88, generating $401,100 in proceeds. The Rule 10b5-1 transaction reduced his ownership by 2.97%, leaving him with 40,794 shares.
- Cadence shares opened at $347.55, giving the company a market capitalization of approximately $95.71 billion. The stock has risen 3.8%, while its valuation stands at a price-to-earnings ratio of 69.10.
- The company exceeded quarterly EPS expectations, reporting $2.11 versus the $2.05 consensus, while revenue increased 24.2% year over year to $1.58 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $405.69.
Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) VP Paul Scannell sold 280 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total value of $94,920.00. Following the sale, the vice president owned 31,720 shares of the company's stock, valued at approximately $10,753,080. This represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paul Scannell also recently made the following trade(s):
- On Monday, June 1st, Paul Scannell sold 7,081 shares of Cadence Design Systems stock. The stock was sold at an average price of $393.91, for a total value of $2,789,276.71.
Cadence Design Systems Stock Performance
NASDAQ:CDNS opened at $347.55 on Friday. The stock has a market cap of $95.71 billion, a P/E ratio of 69.10, a PEG ratio of 3.59 and a beta of 1.15. The stock has a 50 day simple moving average of $349.11 and a 200 day simple moving average of $333.21. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. 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 data on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.06. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The company's revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 EPS. 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. Research analysts anticipate that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC grew its holdings in shares of Cadence Design Systems by 933.3% during the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker's stock valued at $26,000 after buying an additional 84 shares during the last quarter. Brown Lisle Cummings Inc. boosted its position in Cadence Design Systems by 860.0% in the first 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. purchased a new position in Cadence Design Systems in the fourth quarter worth $28,000. Swiss RE Ltd. bought a new position in Cadence Design Systems in the 4th quarter valued at $29,000. Finally, Avalon Trust Co purchased a new stake in shares of Cadence Design Systems during the 2nd quarter valued at $30,000. Institutional investors own 84.85% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on CDNS. Oppenheimer reiterated a "market perform" rating and issued a $300.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Rosenblatt Securities lifted their target price on Cadence Design Systems from $410.00 to $420.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Piper Sandler increased their target price on shares of Cadence Design Systems from $325.00 to $349.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Citigroup raised their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Finally, Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $405.69.
Read Our Latest Stock 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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