Key Points
- Cadence VP Paul Cunningham sold 2,000 shares at an average price of $324.13, generating $648,260. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his holdings by 1.64%.
- Cadence shares recently traded at $319.51, with a market capitalization of approximately $88 billion and a P/E ratio of 63.52. The stock remains below its 52-week high of $416.69.
- The company reported quarterly EPS of $2.11, exceeding estimates, while revenue rose 24.2% year over year to $1.58 billion. Analysts maintain a generally bullish view, with a “Moderate Buy” consensus rating and an average price target of $404.14.
Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) VP Paul Cunningham sold 2,000 shares of the company's stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $324.13, for a total value of $648,260.00. Following the completion of the transaction, the vice president owned 119,612 shares of the company's stock, valued at $38,769,837.56. This trade represents a 1.64% decrease in their position. 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 Tuesday, September 15th, Paul Cunningham sold 2,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $277.12, for a total value of $554,240.00.
- On Monday, August 17th, Paul Cunningham sold 2,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $323.32, for a total value of $646,640.00.
Cadence Design Systems Stock Performance
Shares of NASDAQ:CDNS traded down $4.87 during midday trading on Friday, reaching $319.51. The company had a trading volume of 2,501,447 shares, compared to its average volume of 2,424,676. The company's 50 day moving average price is $318.85 and its 200 day moving average price is $338.84. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. The stock has a market cap of $87.99 billion, a P/E ratio of 63.52, a P/E/G ratio of 3.47 and a beta of 1.13. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.06. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. Cadence Design Systems's quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the business 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. As a group, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 6.41 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp lifted 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 valued at $1,835,227,000 after acquiring an additional 874,392 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Cadence Design Systems by 1.5% during 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 in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Cadence Design Systems by 1,097.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,818,141 shares of the software maker's stock valued at $930,522,000 after buying an additional 2,582,812 shares in the last quarter. Amundi lifted its holdings in shares of Cadence Design Systems by 3.8% in the first quarter. Amundi now owns 2,060,334 shares of the software maker's stock worth $572,488,000 after buying an additional 75,492 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in Cadence Design Systems in the 2nd quarter worth approximately $702,615,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
CDNS has been the topic of a number of recent research reports. Morgan Stanley reaffirmed an "overweight" rating and set a $400.00 price target (up from $370.00) on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Rosenblatt Securities increased their price target on Cadence Design Systems from $410.00 to $420.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. KeyCorp reiterated an "overweight" rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Finally, Wall Street Zen raised shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $404.14.
Get Our Latest Stock Analysis on CDNS
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. Its products help engineers design, verify, analyze, and manufacture complex semiconductor chips, printed circuit boards, and electronic systems.
The company's offerings include digital and custom/analog integrated-circuit design tools, functional verification and emulation platforms, semiconductor intellectual property, and system analysis solutions.
Further Reading
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].
