Cadence Design Systems (NASDAQ:CDNS) VP Paul Cunningham Sells 2,000 Shares of Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $391.00, for a total transaction of $782,000.00. Following the completion of the sale, the vice president owned 126,586 shares of the company’s stock, valued at $49,495,126. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 1st, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $337.49, for a total transaction of $337,490.00.
• On Wednesday, April 1st, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $280.19, for a total transaction of $280,190.00.

Cadence Design Systems Stock Up 0.5%

Cadence Design Systems stock opened at $389.60 on Thursday. The stock has a market cap of $107.46 billion, a P/E ratio of 90.82, a P/E/G ratio of 4.59 and a beta of 1.15. 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 twelve month low of $262.75 and a twelve month high of $416.69. The company’s 50-day moving average price is $351.03 and its two-hundred day moving average price is $320.63.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.05. The firm 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 revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm earned $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. As a group, analysts expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on CDNS. KeyCorp increased their price target on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Citigroup increased their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Rosenblatt Securities reissued a “buy” rating and issued a $360.00 price target on shares of Cadence Design Systems in a report on Friday, April 24th. Robert W. Baird increased their price target on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Finally, Stifel Nicolaus increased their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $386.59.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CDNS. Norges Bank acquired a new stake in shares of Cadence Design Systems during the 4th quarter worth approximately $1,352,922,000. J. Stern & Co. LLP boosted its position in shares of Cadence Design Systems by 10,159.3% during the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after acquiring an additional 2,924,470 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Cadence Design Systems by 218.6% during the 4th quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock worth $798,087,000 after acquiring an additional 1,751,927 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Cadence Design Systems by 232.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,430,599 shares of the software maker’s stock worth $397,521,000 after acquiring an additional 999,862 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Cadence Design Systems by 120.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker’s stock worth $351,470,000 after acquiring an additional 615,440 shares in the last quarter. 84.85% of the stock is owned by 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.