Cadence Design Systems (NASDAQ:CDNS) CEO Anirudh Devgan Sells 5,550 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNS) CEO Anirudh Devgan sold 5,550 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $327.80, for a total transaction of $1,819,290.00. Following the completion of the sale, the chief executive officer owned 195,844 shares of the company’s stock, valued at approximately $64,197,663.20. This trade represents a 2.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Cadence Design Systems Stock Performance

Cadence Design Systems stock traded up $0.60 during midday trading on Friday, hitting $325.05. 1,612,210 shares of the company’s stock were exchanged, compared to its average volume of 1,980,895. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.67 and a current ratio of 3.05. The stock has a market cap of $88.48 billion, a price-to-earnings ratio of 83.78, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The firm’s 50 day simple moving average is $344.86 and its 200 day simple moving average is $327.44.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.14. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.64 earnings per share. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. Equities research analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Institutional Investors Weigh In On Cadence Design Systems

Large investors have recently added to or reduced their stakes in the business. Costello Asset Management INC acquired a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $25,000. Saudi Central Bank acquired a new stake in shares of Cadence Design Systems during the first quarter valued at $27,000. Barrett & Company Inc. acquired a new stake in shares of Cadence Design Systems during the second quarter valued at $31,000. Strategic Wealth Investment Group LLC purchased a new stake in Cadence Design Systems during the 2nd quarter worth about $32,000. Finally, Promus Capital LLC acquired a new position in Cadence Design Systems in the 2nd quarter valued at about $33,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CDNS. Berenberg Bank set a $400.00 target price on Cadence Design Systems in a report on Wednesday, July 30th. KeyCorp reissued an “overweight” rating and issued a $405.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 28th. JPMorgan Chase & Co. upped their price objective on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Finally, The Goldman Sachs Group assumed coverage on shares of Cadence Design Systems in a research note on Thursday, July 10th. They set a “buy” rating and a $380.00 price target on the stock. Fourteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus target price of $376.00.

Cadence Design Systems Company Profile

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.