Cadence Design Systems (NASDAQ:CDNS) Director Ita Brennan Sells 180 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNS) Director Ita Brennan sold 180 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the transaction, the director owned 8,004 shares of the company’s stock, valued at $3,101,149.80. This represents a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadence Design Systems Stock Up 0.3%

Shares of CDNS stock traded up $1.22 during mid-day trading on Friday, hitting $384.96. The company’s stock had a trading volume of 1,366,133 shares, compared to its average volume of 2,488,224. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69. The business has a 50-day moving average price of $344.32 and a 200 day moving average price of $318.73. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. The stock has a market cap of $106.18 billion, a price-to-earnings ratio of 89.73, a PEG ratio of 4.56 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.05. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business earned $1.57 earnings per share. The company’s revenue was up 18.6% on a year-over-year basis. 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. Research analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Institutional Trading of Cadence Design Systems

A number of hedge funds have recently bought and sold shares of the company. Sun Financial Inc purchased a new stake in Cadence Design Systems in the fourth quarter worth about $1,225,000. MUFG Securities EMEA plc increased its stake in shares of Cadence Design Systems by 113.9% in the fourth quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock worth $3,488,000 after purchasing an additional 5,943 shares in the last quarter. DDD Partners LLC raised its position in shares of Cadence Design Systems by 27.4% during the 4th quarter. DDD Partners LLC now owns 41,968 shares of the software maker’s stock valued at $13,118,000 after purchasing an additional 9,024 shares during the period. Leonteq Securities AG purchased a new position in shares of Cadence Design Systems during the 4th quarter valued at $1,105,000. Finally, Allianz SE bought a new position in Cadence Design Systems in the 3rd quarter worth $1,265,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Robert W. Baird boosted their price target on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Rosenblatt Securities restated a “buy” rating and issued a $360.00 price target on shares of Cadence Design Systems in a research note on Friday, April 24th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a research report on Wednesday, May 27th. Finally, Wells Fargo & Company upped their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $386.59.

Cadence Design Systems Company Profile

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.