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 on Tuesday, September 15th. The stock was sold at an average price of $277.12, for a total transaction of $554,240.00. Following the transaction, the vice president directly owned 121,793 shares of the company’s stock, valued at approximately $33,751,276.16. This trade represents a 1.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Monday, August 17th, Paul Cunningham sold 2,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $323.32, for a total transaction of $646,640.00.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $280.76 on Friday. The firm’s fifty day moving average is $324.98 and its two-hundred day moving average is $333.33. The firm has a market cap of $77.32 billion, a price-to-earnings ratio of 55.82, a PEG ratio of 3.00 and a beta of 1.14. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The company’s revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the business posted $1.65 EPS. 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 expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Hedge Funds Weigh In On Cadence Design Systems

A number of hedge funds have recently bought and sold shares of the business. George Kaiser Family Foundation purchased a new position in shares of Cadence Design Systems during the 2nd quarter worth approximately $725,000. MUFG Securities EMEA plc raised its position in 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 valued at $3,488,000 after purchasing an additional 5,943 shares during the period. Leonteq Securities AG acquired a new position in Cadence Design Systems during the fourth quarter worth $1,105,000. Vega Investment Solutions acquired a new position in Cadence Design Systems during the second quarter worth $1,957,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Cadence Design Systems by 1.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 369,717 shares of the software maker’s stock worth $115,566,000 after buying an additional 3,562 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CDNS. Citigroup upped their price objective on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Bank of America lifted their target price on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Stifel Nicolaus boosted their target price on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Wells Fargo & Company increased their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Finally, Oppenheimer restated a “market perform” rating and set a $300.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $403.88.

About Cadence Design Systems

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware and semiconductor intellectual property (IP). Its products help engineers design, verify and analyze integrated circuits, printed circuit boards and complete electronic systems.

The company offers solutions spanning digital and custom IC design, functional verification, digital and analog simulation, emulation and prototyping, system analysis, and 3D computational fluid dynamics.