Cadence Design Systems (NASDAQ:CDNS) VP Sells $646,640.00 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction on Monday, August 17th. The shares were sold at an average price of $323.32, for a total transaction of $646,640.00. Following the completion of the sale, the vice president owned 124,586 shares in the company, valued at $40,281,145.52. The trade was a 1.58% 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.

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

• On Monday, June 15th, Paul Cunningham sold 2,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $391.00, for a total value of $782,000.00.

Cadence Design Systems Stock Down 0.5%

Shares of NASDAQ:CDNS traded down $1.54 during midday trading on Wednesday, reaching $314.98. The company had a trading volume of 1,902,702 shares, compared to its average volume of 2,390,308. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average price is $356.42 and its 200 day moving average price is $331.22. The stock has a market cap of $86.74 billion, a PE ratio of 62.62, a P/E/G ratio of 3.40 and a beta of 1.15. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The business’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 earnings per share. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. Research analysts forecast that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Cadence Design Systems

A number of hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Cadence Design Systems by 1.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,385,655 shares of the software maker’s stock valued at $1,270,704,000 after purchasing an additional 48,937 shares in the last quarter. New Mexico Educational Retirement Board boosted its position in shares of Cadence Design Systems by 8.0% during the 2nd quarter. New Mexico Educational Retirement Board now owns 13,500 shares of the software maker’s stock worth $5,067,000 after purchasing an additional 1,000 shares in the last quarter. Mufg Securities Americas Inc. boosted its position in shares of Cadence Design Systems by 10.3% during the 2nd quarter. Mufg Securities Americas Inc. now owns 8,308 shares of the software maker’s stock worth $3,118,000 after purchasing an additional 776 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Cadence Design Systems by 21.8% in the 2nd quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker’s stock valued at $1,835,227,000 after buying an additional 874,392 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd bought a new stake in Cadence Design Systems in the 2nd quarter valued at about $18,069,000. Institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, July 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a report on Wednesday, July 29th. Bank of America boosted their target price on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, Rosenblatt Securities upped their price objective on shares of Cadence Design Systems from $410.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus target price of $405.69.

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.