Rep. Jefferson Shreve Sells Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock

Representative Jefferson Shreve (R-Indiana) recently sold shares of Cadence Design Systems, Inc. NASDAQ: CDNS. In a filing disclosed on June 22nd, the Representative disclosed that they had sold between $50,001 and $100,000 in Cadence Design Systems stock on May 12th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

Representative Jefferson Shreve also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of Hubbell NYSE: HUBB on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Trane Technologies NYSE: TT on 5/12/2025.
• Sold $15,001 - $50,000 in shares of RTX NYSE: RTX on 5/12/2025.
• Sold $50,001 - $100,000 in shares of NiSource NYSE: NI on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Johnson & Johnson NYSE: JNJ on 5/12/2025.
• Sold $15,001 - $50,000 in shares of AppLovin NASDAQ: APP on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Fiserv NYSE: FI on 5/12/2025.
• Sold $15,001 - $50,000 in shares of CNO Financial Group NYSE: CNO on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Cboe Global Markets NASDAQ: CBOE on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Lam Research NASDAQ: LRCX on 5/12/2025.

Cadence Design Systems Trading Up 2.3%

Cadence Design Systems stock traded up $7.55 during mid-day trading on Friday, hitting $332.19. 2,717,600 shares of the company's stock were exchanged, compared to its average volume of 1,492,241. The company's 50 day simple moving average is $309.39 and its 200-day simple moving average is $288.63. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $335.16. The firm has a market capitalization of $90.70 billion, a P/E ratio of 84.10, a PEG ratio of 4.62 and a beta of 0.99. The company has a quick ratio of 2.90, a current ratio of 3.07 and a debt-to-equity ratio of 0.52.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The software maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.07. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Cadence Design Systems had a return on equity of 29.36% and a net margin of 22.18%. The company's quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.17 earnings per share. On average, equities analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Hedge Funds Weigh In On Cadence Design Systems

A number of institutional investors have recently bought and sold shares of the business. NorthRock Partners LLC increased its position in Cadence Design Systems by 14.2% during the second quarter. NorthRock Partners LLC now owns 3,457 shares of the software maker's stock worth $1,065,000 after buying an additional 429 shares during the last quarter. Verdence Capital Advisors LLC increased its position in Cadence Design Systems by 3.6% during the second quarter. Verdence Capital Advisors LLC now owns 2,642 shares of the software maker's stock worth $814,000 after buying an additional 92 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Cadence Design Systems by 42.7% during the second quarter. Sequoia Financial Advisors LLC now owns 6,706 shares of the software maker's stock worth $2,066,000 after buying an additional 2,005 shares during the last quarter. Lion Street Advisors LLC increased its position in Cadence Design Systems by 12.2% during the second quarter. Lion Street Advisors LLC now owns 1,259 shares of the software maker's stock worth $388,000 after buying an additional 137 shares during the last quarter. Finally, MGO One Seven LLC increased its position in Cadence Design Systems by 50.3% during the second quarter. MGO One Seven LLC now owns 5,280 shares of the software maker's stock worth $1,627,000 after buying an additional 1,768 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Loop Capital boosted their price target on Cadence Design Systems from $340.00 to $370.00 and gave the company a "buy" rating in a report on Monday, July 14th. Wall Street Zen lowered Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. The Goldman Sachs Group assumed coverage on Cadence Design Systems in a report on Thursday, July 10th. They issued a "buy" rating and a $380.00 price target on the stock. Wells Fargo & Company lifted their target price on Cadence Design Systems from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Robert W. Baird lifted their target price on Cadence Design Systems from $293.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $332.57.

Insider Activity

In other news, VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $306.35, for a total transaction of $306,350.00. Following the completion of the sale, the vice president owned 105,499 shares in the company, valued at $32,319,618.65. The trade was a 0.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James D. Plummer sold 868 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $319.95, for a total value of $277,716.60. Following the sale, the director owned 23,996 shares of the company's stock, valued at approximately $7,677,520.20. This represents a 3.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,795 shares of company stock valued at $6,065,087. 0.37% of the stock is owned by insiders.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana's 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana's 6th Congressional District. He declared candidacy for the 2026 election. Email editor@ballotpedia.org to notify us of updates to this biography. Jefferson Shreve earned a bachelor's degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve's career experience includes working as a real estate executive. Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

About Cadence Design Systems

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.