Cadence Design Systems (NASDAQ:CDNS) Director James Plummer Sells 1,511 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNS) Director James Plummer sold 1,511 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $381.34, for a total value of $576,204.74. Following the transaction, the director owned 23,264 shares in the company, valued at $8,871,493.76. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS traded up $9.54 during trading hours on Monday, reaching $394.50. 1,846,349 shares of the stock traded hands, compared to its average volume of 2,482,543. The company has a market capitalization of $108.81 billion, a P/E ratio of 91.96, a price-to-earnings-growth ratio of 4.56 and a beta of 1.15. The company’s 50-day simple moving average is $346.64 and its two-hundred day simple moving average is $319.47. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. 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 issued its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the business earned $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. Equities research analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Analyst Ratings Changes

CDNS has been the subject of several analyst reports. Robert W. Baird upped their price target on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Citigroup raised their price objective on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Piper Sandler raised their price objective 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. Wells Fargo & Company raised their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $386.59.

Institutional Trading of Cadence Design Systems

A number of institutional investors have recently modified their holdings of the company. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of 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 worth $287,000 after purchasing an additional 31 shares during the period. Westfuller Advisors LLC boosted its holdings in shares of Cadence Design Systems by 8.2% during the first quarter. Westfuller Advisors LLC now owns 408 shares of the software maker’s stock worth $113,000 after purchasing an additional 31 shares during the period. Spirepoint Private Client LLC boosted its holdings in shares of Cadence Design Systems by 4.6% during the fourth quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker’s stock worth $226,000 after purchasing an additional 32 shares during the period. Cornerstone Planning Group LLC boosted its holdings in shares of Cadence Design Systems by 32.0% during the first quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker’s stock worth $37,000 after purchasing an additional 32 shares during the period. Finally, KCM Investment Advisors LLC boosted its holdings in shares of 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 worth $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.

About Cadence Design Systems

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.