Insider Selling: Cadence Design Systems (NASDAQ:CDNS) CEO Sells $1,819,290.00 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) CEO Anirudh Devgan sold 5,550 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $327.80, for a total transaction of $1,819,290.00. Following the completion of the sale, the chief executive officer owned 195,844 shares in the company, valued at $64,197,663.20. This represents a 2.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Cadence Design Systems Price Performance

CDNS stock opened at $325.05 on Monday. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The firm has a market capitalization of $88.48 billion, a P/E ratio of 83.78, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. The company has a fifty day simple moving average of $344.35 and a two-hundred day simple moving average of $328.88. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48.

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 firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company 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. Analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Costello Asset Management INC bought a new position in Cadence Design Systems in the 1st quarter worth about $25,000. Barrett & Company Inc. bought a new position in Cadence Design Systems in the second quarter worth approximately $31,000. Robbins Farley purchased a new position in Cadence Design Systems during the 3rd quarter worth $35,000. Cloud Capital Management LLC purchased a new position in Cadence Design Systems during the 3rd quarter worth $35,000. Finally, Strategic Wealth Investment Group LLC bought a new stake in Cadence Design Systems during the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the subject of a number of recent research reports. Robert W. Baird lifted their target price on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Wolfe Research reiterated an “outperform” rating and set a $385.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Loop Capital raised their target price on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Wall Street Zen cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Finally, Piper Sandler reissued a “neutral” rating and issued a $355.00 price objective (up from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average target price of $376.00.

Cadence Design Systems Company Profile

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.