Cadence Design Systems, Inc. (NASDAQ:CDNS – Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $383.80 and last traded at $374.05, with a volume of 2358345 shares. The stock had previously closed at $381.75.
Wall Street Analyst Weigh In
CDNS has been the subject of a number of research reports. Stifel Nicolaus set a $395.00 price target on shares of Cadence Design Systems in a report on Wednesday, February 18th. Robert W. Baird raised their price target on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. KeyCorp raised their price target on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Wells Fargo & Company raised their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a research report on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $384.41.
Read Our Latest Research Report on CDNS
Cadence Design Systems Trading Down 2.0%
Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm posted $1.57 earnings per share. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. 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. As a group, equities research analysts expect that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.
Insider Activity at Cadence Design Systems
In related news, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $297.78, for a total transaction of $297,780.00. Following the completion of the transaction, the vice president owned 94,137 shares of the company’s stock, valued at approximately $28,032,115.86. The trade was a 1.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Scannell sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $339.00, for a total transaction of $3,559,500.00. Following the transaction, the vice president directly owned 33,946 shares of the company’s stock, valued at approximately $11,507,694. This represents a 23.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 93,138 shares of company stock valued at $32,492,540 in the last quarter. 0.49% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Cadence Design Systems
Several hedge funds have recently bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC grew its stake in Cadence Design Systems by 3.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker’s stock valued at $287,000 after acquiring an additional 31 shares in the last quarter. Westfuller Advisors LLC grew its stake in Cadence Design Systems by 8.2% during the first quarter. Westfuller Advisors LLC now owns 408 shares of the software maker’s stock valued at $113,000 after acquiring an additional 31 shares in the last quarter. Spirepoint Private Client LLC grew its stake in Cadence Design Systems by 4.6% during the fourth quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker’s stock valued at $226,000 after acquiring an additional 32 shares in the last quarter. Cornerstone Planning Group LLC grew its stake in Cadence Design Systems by 32.0% during the first quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker’s stock valued at $37,000 after acquiring an additional 32 shares in the last quarter. Finally, KCM Investment Advisors LLC grew its stake in Cadence Design Systems by 0.4% during the first quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker’s stock valued at $2,227,000 after acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.
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.
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