Anirudh Devgan Sells 25,005 Shares of Cadence Design Systems (NASDAQ:CDNS) Stock

Key Points

• Cadence Design Systems CEO Anirudh Devgan sold 25,005 shares on June 2 at an average price of $415, totaling about $10.38 million. The sale was made under a pre-arranged Rule 10b5-1 plan, and Devgan’s direct holdings fell to 253,519 shares.
• The CEO has sold stock in multiple recent transactions, including two other large sales in late May and early June. Combined insider selling may weigh on investor sentiment even though the trades were planned in advance.
• Cadence shares slipped 2.0% in midday trading to $408, while the company remains near its 12-month high. The stock has still been supported by solid fundamentals, including a recent earnings beat and upbeat analyst coverage.

Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) CEO Anirudh Devgan sold 25,005 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the sale, the chief executive officer directly owned 253,519 shares of the company's stock, valued at $105,210,385. The trade was a 8.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anirudh Devgan also recently made the following trade(s):

• On Monday, June 1st, Anirudh Devgan sold 51,822 shares of Cadence Design Systems stock. The shares were sold at an average price of $395.00, for a total transaction of $20,469,690.00.
• On Friday, May 22nd, Anirudh Devgan sold 51,887 shares of Cadence Design Systems stock. The shares were sold at an average price of $370.00, for a total transaction of $19,198,190.00.

Cadence Design Systems Stock Down 2.0%

NASDAQ:CDNS traded down $8.39 during midday trading on Wednesday, reaching $408.00. 2,872,249 shares of the stock traded hands, compared to its average volume of 2,175,601. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The business has a 50-day moving average of $328.72 and a two-hundred day moving average of $314.72. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. The stock has a market capitalization of $112.53 billion, a PE ratio of 95.11, a price-to-earnings-growth ratio of 4.93 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The company's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.57 earnings per share. 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. On average, equities analysts forecast that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Trending Headlines about Cadence Design Systems

Here are the key news stories impacting Cadence Design Systems this week:

• Positive Sentiment: Cadence continues to draw bullish analyst and investor attention, with coverage noting strong long-term prospects and competitive advantages despite recent relative underperformance. Cadence Design Systems Stock: Is CDNS Underperforming the Technology Sector?
• Positive Sentiment: Recent conference appearances by Cadence executives may reinforce investor interest in the company’s strategy and growth outlook. Cadence Design Systems, Inc. (CDNS) Presents at Bank of America 2026 Global Technology Conference Transcript
• Neutral Sentiment: Cadence’s Richard Gu is scheduled to present at a Nasdaq conference, keeping the company visible to investors but not changing fundamentals by itself. Cadence’s Richard Gu to Present at Nasdaq Conference
• Neutral Sentiment: Valuation-focused coverage compared CDNS with Adobe, suggesting investors are still debating whether the stock’s premium valuation is justified. ADBE or CDNS: Which Is the Better Value Stock Right Now?
• Negative Sentiment: CEO Anirudh Devgan sold shares in two separate transactions, and VP Paul Scannell also sold stock; although both sales were made under pre-arranged 10b5-1 plans, insider selling can still weigh on sentiment. SEC filing for Paul Scannell sale SEC filing for Anirudh Devgan sale
• Negative Sentiment: Recent market coverage noted that CDNS fell more than the broader market in the latest session, reinforcing short-term weakness in the share price. Here's Why Cadence Design Systems (CDNS) Fell More Than Broader Market

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Cadence Design Systems by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker's stock worth $8,511,888,000 after purchasing an additional 307,753 shares during the last quarter. State Street Corp raised its holdings in shares of Cadence Design Systems by 1.1% during the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker's stock worth $3,939,561,000 after purchasing an additional 135,206 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cadence Design Systems by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker's stock worth $2,378,707,000 after purchasing an additional 92,152 shares during the last quarter. Norges Bank purchased a new position in shares of Cadence Design Systems during the fourth quarter worth $1,352,922,000. Finally, Van ECK Associates Corp raised its holdings in shares of Cadence Design Systems by 11.9% during the fourth quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker's stock worth $1,104,714,000 after purchasing an additional 376,654 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on CDNS. 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, April 28th. 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. Morgan Stanley decreased their price target on shares of Cadence Design Systems from $385.00 to $370.00 and set an "overweight" rating for the company in a report on Wednesday, February 18th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $360.00 price target on shares of Cadence Design Systems in a report on Friday, April 24th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and an average target price of $384.41.

About Cadence Design Systems

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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