Cadence Design Systems (NASDAQ:CDNS) Director Sells 180 Shares

Key Points

• Director Ita Brennan sold 180 Cadence Design Systems shares at an average price of $285.51, totaling $51,391.80. The Rule 10b5-1 transaction reduced her holdings by 2.25% to 7,824 shares.
• Cadence shares recently traded at $279.06, near the lower end of their 52-week range of $262.75 to $416.69, with a market capitalization of approximately $76.85 billion.
• The company exceeded quarterly earnings expectations and reported 24.2% year-over-year revenue growth. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $403.88, well above the recent trading price.

Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) Director Ita Brennan sold 180 shares of the company's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $285.51, for a total value of $51,391.80. Following the completion of the transaction, the director directly owned 7,824 shares of the company's stock, valued at $2,233,830.24. The trade was a 2.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock traded down $10.31 on Monday, reaching $279.06. The company's stock had a trading volume of 2,335,314 shares, compared to its average volume of 2,450,967. The company has a market capitalization of $76.85 billion, a P/E ratio of 55.48, a PEG ratio of 3.10 and a beta of 1.14. The stock has a 50-day moving average price of $332.84 and a 200-day moving average price of $333.88. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.06. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The firm's revenue for the quarter was up 24.2% on a year-over-year basis. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. Analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Institutional Investors Weigh In On Cadence Design Systems

Several institutional investors have recently made changes to their positions in CDNS. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Cadence Design Systems by 3.1% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker's stock valued at $287,000 after purchasing an additional 31 shares during the last quarter. Westfuller Advisors LLC increased its stake in shares of Cadence Design Systems by 8.2% in the first quarter. Westfuller Advisors LLC now owns 408 shares of the software maker's stock worth $113,000 after buying an additional 31 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in shares of Cadence Design Systems by 32.0% in the first quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker's stock worth $37,000 after buying an additional 32 shares during the last quarter. KCM Investment Advisors LLC raised its holdings in Cadence Design Systems by 0.4% in the first quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker's stock valued at $2,227,000 after acquiring an additional 32 shares in the last quarter. Finally, Fulton Bank N.A. boosted its stake in Cadence Design Systems by 2.6% during the 2nd quarter. Fulton Bank N.A. now owns 1,296 shares of the software maker's stock valued at $486,000 after acquiring an additional 33 shares during the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a research report on Wednesday, May 27th. KeyCorp reaffirmed an "overweight" rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Oppenheimer reissued a "market perform" rating and issued a $300.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 28th. Stifel Nicolaus raised their price target on Cadence Design Systems from $395.00 to $432.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Finally, Citigroup lifted their price target on Cadence Design Systems from $400.00 to $420.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $403.88.

About Cadence Design Systems

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware and semiconductor intellectual property (IP). Its products help engineers design, verify and analyze integrated circuits, printed circuit boards and complete electronic systems.

The company offers solutions spanning digital and custom IC design, functional verification, digital and analog simulation, emulation and prototyping, system analysis, and 3D computational fluid dynamics.

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