Cadence Design Systems (NASDAQ:CDNS) VP Paul Scannell Sells 1,071 Shares of Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Scannell sold 1,071 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $345.06, for a total value of $369,559.26. Following the completion of the sale, the vice president directly owned 32,181 shares in the company, valued at approximately $11,104,375.86. The trade was a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 1st, Paul Scannell sold 10,500 shares of Cadence Design Systems stock. The stock was sold at an average price of $339.00, for a total value of $3,559,500.00.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $350.89 on Thursday. The stock’s 50-day moving average is $309.84 and its 200-day moving average is $310.60. The company has a market cap of $96.78 billion, a price-to-earnings ratio of 81.79, a price-to-earnings-growth ratio of 4.00 and a beta of 1.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating the consensus estimate of $1.91 by $0.05. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The company’s revenue was up 18.6% on a year-over-year basis. During the same period last year, the business posted $1.57 EPS. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. Equities analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Analyst Ratings Changes

CDNS has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $360.00 target price on shares of Cadence Design Systems in a research report on Friday, April 24th. Stifel Nicolaus set a $395.00 target price on Cadence Design Systems in a research report on Wednesday, February 18th. Robert W. Baird lifted their target price on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company lifted their target price on Cadence Design Systems from $375.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $380.59.

Institutional Trading of Cadence Design Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Cadence Design Systems by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock worth $8,511,888,000 after buying an additional 307,753 shares in the last quarter. State Street Corp raised its stake in shares of 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 worth $3,939,561,000 after buying an additional 135,206 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cadence Design Systems by 1.2% during the fourth 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. Norges Bank acquired a new stake in shares of Cadence Design Systems during the fourth quarter worth $1,352,922,000. Finally, Van ECK Associates Corp raised its position in shares of Cadence Design Systems by 11.9% during the fourth quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock worth $1,104,714,000 after purchasing an additional 376,654 shares during the period. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Company Profile

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.