Insider Selling: Cadence Design Systems (NASDAQ:CDNS) Director Sells 1,511 Shares of Stock

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

Cadence Design Systems Stock Performance

Cadence Design Systems stock traded up $9.54 during trading on Monday, hitting $394.50. The stock had a trading volume of 1,846,349 shares, compared to its average volume of 2,482,543. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average is $346.64 and its two-hundred day moving average is $319.47. The stock has a market cap of $108.81 billion, a price-to-earnings ratio of 91.96, a price-to-earnings-growth ratio of 4.56 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data 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%.Cadence Design Systems’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior 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. As a group, analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Institutional Investors Weigh In On Cadence Design Systems

A number of institutional investors and hedge funds have recently made changes to their positions in CDNS. Brighton Jones LLC raised its position in shares of Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after buying an additional 676 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Cadence Design Systems by 3.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock worth $560,000 after buying an additional 80 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new stake in shares of Cadence Design Systems in the second quarter worth $205,000. NewEdge Advisors LLC raised its position in shares of Cadence Design Systems by 39.3% in the second quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock worth $10,720,000 after buying an additional 9,807 shares in the last quarter. Finally, Glenview Trust co bought a new position in Cadence Design Systems in the second quarter valued at $226,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a research report on Wednesday, May 27th. Stifel Nicolaus increased their target price on Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Robert W. Baird increased 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, Citigroup increased their target price on Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average target price of $386.59.

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.