Cadence Design Systems (NASDAQ:CDNS) CFO John Wall Sells 7,500 Shares

Key Points

• Cadence Design Systems CFO John Wall sold 7,500 shares at an average price of $349.16, totaling approximately $2.62 million, which reduced his ownership by 9.59% to 70,715 shares.
• The company reported $1.65 EPS for Q2, surpassing analysts' expectations, and a 20.2% year-over-year revenue increase to $1.28 billion.
• Several analysts have recently raised their price targets, with Mizuho increasing theirs to $375.00 and KeyCorp to $405.00, while the consensus rating remains a "Moderate Buy."

Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) CFO John Wall sold 7,500 shares of the firm's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the sale, the chief financial officer owned 70,715 shares of the company's stock, valued at approximately $24,690,849.40. This represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Cadence Design Systems Trading Down 1.3%

CDNS traded down $4.73 during trading on Thursday, reaching $347.24. The company had a trading volume of 1,649,285 shares, compared to its average volume of 1,995,188. The stock has a market cap of $94.62 billion, a P/E ratio of 93.85, a PEG ratio of 4.61 and a beta of 0.99. The business has a 50 day simple moving average of $352.28 and a 200-day simple moving average of $312.46. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.56 by $0.09. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.Cadence Design Systems's revenue was up 20.2% on a year-over-year basis. During the same period last year, the company earned $1.28 earnings per share. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. On average, equities analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Cadence Design Systems

Several institutional investors have recently made changes to their positions in CDNS. Brighton Jones LLC increased its stake in shares of 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 buying an additional 676 shares during the period. Two Sigma Investments LP purchased a new position in Cadence Design Systems in the fourth quarter valued at about $1,352,000. Fiduciary Alliance LLC purchased a new position in Cadence Design Systems in the first quarter valued at about $282,000. NBC Securities Inc. grew its stake in Cadence Design Systems by 139,550.0% in the first quarter. NBC Securities Inc. now owns 2,793 shares of the software maker's stock valued at $710,000 after purchasing an additional 2,791 shares during the last quarter. Finally, Merit Financial Group LLC grew its stake in Cadence Design Systems by 42.6% in the first quarter. Merit Financial Group LLC now owns 3,165 shares of the software maker's stock valued at $805,000 after purchasing an additional 946 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Mizuho lifted their target price on Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. BNP Paribas assumed coverage on Cadence Design Systems in a research report on Thursday. They set an "outperform" rating and a $400.00 target price for the company. KeyCorp lifted their target price on Cadence Design Systems from $358.00 to $405.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Wall Street Zen downgraded Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Finally, Needham & Company LLC lifted their target price on Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Fourteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Cadence Design Systems has an average rating of "Moderate Buy" and a consensus price target of $368.53.

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.

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