Paul Cunningham Sells 1,000 Shares of Cadence Design Systems (NASDAQ:CDNS) Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the transaction, the vice president owned 99,672 shares in the company, valued at $34,712,767.44. This represents a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Paul Cunningham also recently made the following trade(s):

• On Tuesday, September 2nd, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $343.95, for a total value of $343,950.00.
• On Friday, August 1st, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $358.72, for a total value of $358,720.00.

Cadence Design Systems Price Performance

Shares of CDNS opened at $347.27 on Friday. The business’s 50-day moving average is $353.04 and its 200-day moving average is $313.74. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The company has a market capitalization of $94.63 billion, a price-to-earnings ratio of 93.86, a P/E/G ratio of 4.55 and a beta of 0.99. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.09. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the business earned $1.28 EPS. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on CDNS. Loop Capital boosted their price target on Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Rosenblatt Securities reissued a “neutral” rating and issued a $300.00 target price on shares of Cadence Design Systems in a research report on Friday, July 25th. The Goldman Sachs Group initiated coverage on shares of Cadence Design Systems in a research note on Thursday, July 10th. They issued a “buy” rating and a $380.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a research report on Saturday, September 27th. Finally, Stifel Nicolaus increased their price objective on Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.53.

Hedge Funds Weigh In On Cadence Design Systems

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Cadence Design Systems by 1.0% in the second quarter. Vanguard Group Inc. now owns 26,595,861 shares of the software maker’s stock valued at $8,195,515,000 after acquiring an additional 256,719 shares during the period. State Street Corp grew its stake in shares of Cadence Design Systems by 1.4% in the 2nd quarter. State Street Corp now owns 12,318,585 shares of the software maker’s stock valued at $3,795,972,000 after purchasing an additional 172,551 shares during the period. Jennison Associates LLC raised its holdings in shares of Cadence Design Systems by 3.0% in the 2nd quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock worth $2,877,536,000 after buying an additional 273,149 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cadence Design Systems by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker’s stock worth $1,952,771,000 after buying an additional 77,478 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Cadence Design Systems by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker’s stock worth $1,202,733,000 after buying an additional 312,757 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

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.