Insider Selling: Cadence Design Systems (NASDAQ:CDNS) VP Sells 5,490 Shares of Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Scannell sold 5,490 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total value of $1,863,470.70. Following the transaction, the vice president owned 20,321 shares in the company, valued at approximately $6,897,557.03. This trade represents a 21.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cadence Design Systems Stock Down 3.6%

Shares of CDNS stock traded down $12.21 during trading hours on Friday, reaching $323.22. 1,431,013 shares of the company’s stock were exchanged, compared to its average volume of 1,945,082. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48. The stock has a market cap of $87.98 billion, a PE ratio of 83.30, a PEG ratio of 4.35 and a beta of 1.05. The stock’s fifty day moving average price is $326.91 and its two-hundred day moving average price is $330.28.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CDNS shares. KeyCorp reissued an “overweight” rating and set a $405.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 28th. Wolfe Research reiterated an “outperform” rating and set a $385.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 28th. BNP Paribas initiated coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price objective for the company. Robert W. Baird upped their target price on Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Design Systems in a report on Monday. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $379.11.

Institutional Trading of Cadence Design Systems

A number of hedge funds have recently added to or reduced their stakes in the company. Y.D. More Investments Ltd acquired a new position in shares of Cadence Design Systems in the third quarter worth about $26,000. Caitlin John LLC acquired a new stake in shares of Cadence Design Systems during the 3rd quarter valued at about $29,000. Imprint Wealth LLC purchased a new position in shares of Cadence Design Systems in the 3rd quarter valued at about $31,000. Barrett & Company Inc. acquired a new position in Cadence Design Systems in the 2nd quarter worth about $31,000. Finally, Robbins Farley acquired a new position in Cadence Design Systems in the 3rd quarter worth about $35,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

About Cadence Design Systems

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.