Paul Cunningham Sells 2,000 Shares of Cadence Design Systems (NASDAQ:CDNS) Stock

Key Points

• Cadence VP Paul Cunningham sold 2,000 shares at an average price of $277.12, generating $554,240. The sale was made under a pre-arranged Rule 10b5-1 trading plan, leaving him with 121,793 shares.
• Cadence shares recently traded at $280.76, near the lower end of their 52-week range of $262.75 to $416.69. The company reported quarterly EPS of $2.11, exceeding estimates, while revenue rose 24.2% year over year to $1.58 billion.
• Analysts maintain a generally positive outlook, with Cadence receiving a “Moderate Buy” consensus rating and an average price target of $403.88, substantially above the recent trading price.

Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) VP Paul Cunningham sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $277.12, for a total value of $554,240.00. Following the sale, the vice president directly owned 121,793 shares of the company's stock, valued at approximately $33,751,276.16. This represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 17th, Paul Cunningham sold 2,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $323.32, for a total value of $646,640.00.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS traded up $0.86 during trading on Thursday, reaching $280.76. The company had a trading volume of 2,095,369 shares, compared to its average volume of 2,449,921. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. The stock's fifty day moving average price is $327.08 and its 200 day moving average price is $333.48. The firm has a market capitalization of $77.32 billion, a price-to-earnings ratio of 55.82, a price-to-earnings-growth ratio of 2.94 and a beta of 1.14.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. George Kaiser Family Foundation acquired a new position in Cadence Design Systems during the second quarter worth about $725,000. MUFG Securities EMEA plc grew its position in shares of Cadence Design Systems by 113.9% in the fourth quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker's stock valued at $3,488,000 after purchasing an additional 5,943 shares during the last quarter. Leonteq Securities AG purchased a new position in shares of Cadence Design Systems during the 4th quarter worth approximately $1,105,000. Vega Investment Solutions purchased a new position in shares of Cadence Design Systems during the 2nd quarter worth approximately $1,957,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Cadence Design Systems by 1.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 369,717 shares of the software maker's stock worth $115,566,000 after purchasing an additional 3,562 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Cadence Design Systems from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 30th. Morgan Stanley restated an "overweight" rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Needham & Company LLC reiterated a "buy" rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Benchmark reissued a "buy" rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Finally, Piper Sandler raised their price target on Cadence Design Systems from $325.00 to $349.00 and gave the company a "neutral" rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cadence Design Systems presently has an average rating of "Moderate Buy" and an average target price of $403.88.

Cadence Design Systems Company Profile

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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