Cadence Design Systems (NASDAQ:CDNS) VP Sells $94,920.00 in Stock

Key Points

• Cadence VP Paul Scannell sold 280 shares at an average price of $339, generating $94,920 under a pre-arranged Rule 10b5-1 trading plan. He continues to own 31,720 shares worth approximately $10.75 million.
• Cadence shares rose 3.8% to $347.55, while the company’s latest quarterly results topped estimates with adjusted EPS of $2.11 and revenue of $1.58 billion, up 24.2% year over year.
• Wall Street remains broadly positive, with 13 analysts rating CDNS a Buy and three a Hold; the stock has a “Moderate Buy” consensus rating and a $405.69 average price target.

Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) VP Paul Scannell sold 280 shares of the company's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total transaction of $94,920.00. Following the completion of the sale, the vice president directly owned 31,720 shares of the company's stock, valued at approximately $10,753,080. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paul Scannell also recently made the following trade(s):

• On Monday, June 1st, Paul Scannell sold 7,081 shares of Cadence Design Systems stock. The shares were sold at an average price of $393.91, for a total transaction of $2,789,276.71.

Cadence Design Systems Stock Up 3.8%

Shares of NASDAQ:CDNS traded up $12.87 during trading hours on Thursday, hitting $347.55. The company's stock had a trading volume of 2,715,634 shares, compared to its average volume of 2,443,623. The firm's fifty day moving average price is $349.91 and its 200 day moving average price is $332.76. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The company has a market capitalization of $95.71 billion, a price-to-earnings ratio of 69.10, a P/E/G ratio of 3.56 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.06. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The company's quarterly revenue was up 24.2% on a year-over-year basis. During the same period last year, the firm earned $1.65 earnings per share. 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. As a group, research analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CDNS shares. Bank of America lifted their price target on Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Benchmark reaffirmed a "buy" rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Rosenblatt Securities lifted their target price on Cadence Design Systems from $410.00 to $420.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Citigroup boosted their target price on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Finally, Wells Fargo & Company increased their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $405.69.

Institutional Trading of Cadence Design Systems

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

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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