Cadence Design Systems (NASDAQ:CDNS) Director Ita Brennan Sells 180 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNS) Director Ita Brennan sold 180 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the transaction, the director directly owned 8,004 shares of the company’s stock, valued at approximately $3,101,149.80. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS traded up $1.22 during mid-day trading on Friday, reaching $384.96. The company’s stock had a trading volume of 1,366,133 shares, compared to its average volume of 2,488,224. The firm has a market capitalization of $106.18 billion, a PE ratio of 89.73, a P/E/G ratio of 4.56 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. The stock has a fifty day moving average of $344.32 and a two-hundred day moving average of $318.73. 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) last released its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.57 earnings per share. 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. As a group, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Cadence Design Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Wealth Management Advisory Group LLC raised its position in Cadence Design Systems by 3.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker’s stock valued at $287,000 after purchasing an additional 31 shares during the period. Westfuller Advisors LLC raised its position in Cadence Design Systems by 8.2% during the first quarter. Westfuller Advisors LLC now owns 408 shares of the software maker’s stock valued at $113,000 after purchasing an additional 31 shares during the period. Spirepoint Private Client LLC raised its position in Cadence Design Systems by 4.6% during the fourth quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker’s stock valued at $226,000 after purchasing an additional 32 shares during the period. Cornerstone Planning Group LLC raised its position in Cadence Design Systems by 32.0% during the first quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker’s stock valued at $37,000 after purchasing an additional 32 shares during the period. Finally, KCM Investment Advisors LLC raised its position in Cadence Design Systems by 0.4% during the first quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker’s stock valued at $2,227,000 after purchasing an additional 32 shares during the period. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on CDNS shares. KeyCorp increased their price target on Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a research note on Wednesday, May 27th. Stifel Nicolaus increased their price target on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research note on Tuesday. Piper Sandler increased their price target on Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $386.59.

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.