Insider Selling: Cadence Design Systems (NASDAQ:CDNS) VP Sells $340,260.00 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $340.26, for a total transaction of $340,260.00. Following the completion of the sale, the vice president owned 98,067 shares of the company’s stock, valued at approximately $33,368,277.42. This represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, October 1st, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $348.27, for a total transaction of $348,270.00.
• On Tuesday, September 2nd, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $343.95, for a total transaction of $343,950.00.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS opened at $325.05 on Friday. The firm has a 50 day moving average of $344.35 and a 200 day moving average of $327.95. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $88.48 billion, a price-to-earnings ratio of 83.78, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45.

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Piper Sandler reiterated a “neutral” rating and issued a $355.00 target price (up from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Needham & Company LLC reissued a “buy” rating and set a $390.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. BNP Paribas Exane assumed coverage on Cadence Design Systems in a report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price target on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $376.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CDNS. Vanguard Group Inc. boosted its position in Cadence Design Systems by 1.2% in the third quarter. Vanguard Group Inc. now owns 26,923,317 shares of the software maker’s stock valued at $9,457,084,000 after buying an additional 327,456 shares during the last quarter. State Street Corp lifted its position in Cadence Design Systems by 1.4% during the second quarter. State Street Corp now owns 12,318,585 shares of the software maker’s stock valued at $3,795,972,000 after purchasing an additional 172,551 shares during the period. Jennison Associates LLC boosted its holdings in Cadence Design Systems by 3.0% in the second quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock valued at $2,877,536,000 after purchasing an additional 273,149 shares during the last quarter. Geode Capital Management LLC grew its position in Cadence Design Systems by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker’s stock worth $1,952,771,000 after purchasing an additional 77,478 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Cadence Design Systems by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock valued at $1,866,739,000 after buying an additional 731,788 shares during the last quarter. 84.85% of the stock is currently 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.