Key Points
- Cadence VP Paul Cunningham sold 2,000 shares at an average price of $277.12, for $554,240, under a pre-arranged Rule 10b5-1 trading plan. He retains 121,793 shares valued at approximately $33.8 million.
- Cadence shares opened at $280.76, well below their 50-day and 200-day moving averages. The company recently exceeded quarterly EPS expectations, reporting $2.11 per share and 24.2% year-over-year revenue growth.
- Wall Street maintains a “Moderate Buy” consensus, with an average price target of $403.88 versus the current share price; institutional investors own 84.85% of the stock.
Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) VP Paul Cunningham sold 2,000 shares of the business's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $277.12, for a total transaction of $554,240.00. Following the sale, the vice president owned 121,793 shares in the company, valued at $33,751,276.16. This trade represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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, August 17th, Paul Cunningham sold 2,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $323.32, for a total transaction of $646,640.00.
Cadence Design Systems Trading Up 0.3%
Shares of CDNS stock opened at $280.76 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. The stock has a market capitalization of $77.32 billion, a P/E ratio of 55.82, a price-to-earnings-growth ratio of 3.00 and a beta of 1.14. The company has a 50 day moving average price of $324.98 and a 200 day moving average price of $333.33. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.06. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business earned $1.65 EPS. The firm's quarterly revenue was up 24.2% on a year-over-year basis. 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. Equities research analysts predict that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on CDNS shares. Weiss Ratings upgraded Cadence Design Systems from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 30th. Piper Sandler boosted their target price on Cadence Design Systems from $325.00 to $349.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. Rosenblatt Securities upped their price target on Cadence Design Systems from $410.00 to $420.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Oppenheimer reaffirmed a "market perform" rating and issued a $300.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Finally, Benchmark reiterated a "buy" rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $403.88.
View Our Latest Research Report on CDNS
Institutional Investors Weigh In On Cadence Design Systems
Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its position in Cadence Design Systems by 1.1% in the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker's stock valued at $3,939,561,000 after purchasing an additional 135,206 shares during the last quarter. Geode Capital Management LLC boosted its stake in 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 purchasing an additional 92,152 shares during the period. Van ECK Associates Corp grew its position in Cadence Design Systems by 21.8% during the 2nd quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker's stock worth $1,835,227,000 after purchasing an additional 874,392 shares during the last quarter. Norges Bank purchased a new position in Cadence Design Systems during the 4th quarter worth $1,352,922,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Cadence Design Systems by 1.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,385,655 shares of the software maker's stock valued at $1,270,704,000 after purchasing an additional 48,937 shares during the period. 84.85% of the stock is currently owned by institutional investors and hedge funds.
Cadence Design Systems Company Profile
(
Get Free Report)
Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware and semiconductor intellectual property (IP). Its products help engineers design, verify and analyze integrated circuits, printed circuit boards and complete electronic systems.
The company offers solutions spanning digital and custom IC design, functional verification, digital and analog simulation, emulation and prototyping, system analysis, and 3D computational fluid dynamics.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
