Cadence Design Systems (NASDAQ:CDNS) Shares Unloaded Rep. Robert Bresnahan, Jr.

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Cadence Design Systems, Inc. (NASDAQ:CDNS). In a filing disclosed on February 13th, the Representative disclosed that they had sold between $1,001 and $15,000 in Cadence Design Systems stock on January 13th. The trade occurred in the Representative’s “JOINT OWNERSHIP LPL ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Lowe’s Companies (NYSE:LOW) on 2/7/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Take-Two Interactive Software (NASDAQ:TTWO) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 2/3/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Manhattan Associates (NASDAQ:MANH) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/29/2025.

Cadence Design Systems Trading Down 0.3 %

CDNS opened at $295.19 on Friday. The stock has a market cap of $80.96 billion, a PE ratio of 77.48, a PEG ratio of 3.50 and a beta of 1.03. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average of $303.55 and a 200-day moving average of $285.94. Cadence Design Systems, Inc. has a 52 week low of $241.29 and a 52 week high of $328.99.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wells Fargo & Company assumed coverage on Cadence Design Systems in a research note on Friday, November 22nd. They issued an “overweight” rating and a $350.00 target price for the company. Needham & Company LLC lowered their target price on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. StockNews.com cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Redburn Atlantic assumed coverage on Cadence Design Systems in a research note on Monday, January 13th. They issued a “buy” rating and a $350.00 target price for the company. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.08.

Institutional Trading of Cadence Design Systems

A number of institutional investors and hedge funds have recently modified their holdings of CDNS. Missouri Trust & Investment Co bought a new stake in shares of Cadence Design Systems in the 3rd quarter worth $27,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Cadence Design Systems in the 3rd quarter worth $28,000. Golden State Wealth Management LLC bought a new stake in shares of Cadence Design Systems in the 4th quarter worth $28,000. Avalon Trust Co bought a new stake in shares of Cadence Design Systems in the 4th quarter worth $39,000. Finally, Versant Capital Management Inc increased its holdings in shares of Cadence Design Systems by 164.2% in the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock worth $42,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $292.32, for a total value of $190,008.00. Following the transaction, the vice president now directly owns 58,773 shares in the company, valued at $17,180,523.36. This trade represents a 1.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Anirudh Devgan sold 93,151 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $310.00, for a total value of $28,876,810.00. Following the completion of the transaction, the chief executive officer now owns 55,874 shares in the company, valued at approximately $17,320,940. This trade represents a 62.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,416 shares of company stock valued at $33,538,875. Corporate insiders own 1.99% of the company’s stock.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

About Cadence Design Systems

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.