Anirudh Devgan Sells 51,822 Shares of Cadence Design Systems (NASDAQ:CDNS) Stock

Key Points

• Cadence Design Systems CEO Anirudh Devgan sold 51,822 shares on June 1 at an average price of $395, for about $20.47 million. The sale was made under a pre-arranged Rule 10b5-1 plan, and it reduced his direct ownership by 15.69%.
• Devgan has been selling stock repeatedly, including another 25,005 shares on June 2 and 51,887 shares on May 22. These transactions may weigh on investor sentiment even though they were pre-planned.
• Cadence’s fundamentals remain strong, with the company recently beating quarterly EPS and revenue expectations and issuing FY2026 guidance above current analyst estimates. Analysts remain broadly positive, with a consensus rating of Moderate Buy.

Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) CEO Anirudh Devgan sold 51,822 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $395.00, for a total value of $20,469,690.00. Following the completion of the transaction, the chief executive officer directly owned 278,524 shares of the company's stock, valued at $110,016,980. The trade was a 15.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Tuesday, June 2nd, Anirudh Devgan sold 25,005 shares of Cadence Design Systems stock. The stock was sold at an average price of $415.00, for a total value of $10,377,075.00.
• On Friday, May 22nd, Anirudh Devgan sold 51,887 shares of Cadence Design Systems stock. The stock was sold at an average price of $370.00, for a total value of $19,198,190.00.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock traded down $8.39 during trading hours on Wednesday, reaching $408.00. The company had a trading volume of 2,872,249 shares, compared to its average volume of 2,175,601. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The business has a fifty day simple moving average of $328.72 and a 200 day simple moving average of $314.72. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. The firm has a market cap 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 results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.91 by $0.05. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the company earned $1.57 earnings per share. The business's revenue for the quarter was up 18.6% on a year-over-year basis. 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, analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cadence Design Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. Brighton Jones LLC raised its position in Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock valued at $456,000 after purchasing an additional 676 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Cadence Design Systems by 3.8% during the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker's stock valued at $560,000 after purchasing an additional 80 shares in the last quarter. Thompson Davis & CO. Inc. bought a new position in shares of Cadence Design Systems during the second quarter valued at about $205,000. NewEdge Advisors LLC grew its stake in shares of Cadence Design Systems by 39.3% during the second quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker's stock valued at $10,720,000 after buying an additional 9,807 shares during the last quarter. Finally, Glenview Trust co bought a new position in shares of Cadence Design Systems during the second quarter valued at about $226,000. Hedge funds and other institutional investors own 84.85% of the company's stock.

Analyst Ratings Changes

CDNS has been the subject of a number of analyst reports. 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. Citigroup increased their price objective on Cadence Design Systems from $385.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a research report on Wednesday, May 27th. Piper Sandler increased their price objective on Cadence Design Systems from $319.00 to $325.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 28th. Finally, Morgan Stanley lowered their price objective on Cadence Design Systems from $385.00 to $370.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 18th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $384.41.

Cadence Design Systems News Summary

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.