Insider Selling: Cadence Design Systems (NASDAQ:CDNS) VP Sells 2,000 Shares of Stock

Key Points

• Cadence Design Systems VP Paul Cunningham sold 2,000 shares on June 15 at an average price of $391, totaling $782,000. The transaction was part of a pre-arranged Rule 10b5-1 plan, and Cunningham still directly owns 126,586 shares.
• CDNS shares were trading higher, rising 0.5% to $389.60 in Wednesday trading. The stock remains well above its 50-day and 200-day moving averages and is near its 12-month high of $416.69.
• The company reported strong quarterly results, posting EPS of $1.96 versus the $1.91 estimate and revenue of $1.47 billion, up 18.6% year over year. Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average target price of $386.59.

Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) VP Paul Cunningham sold 2,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $391.00, for a total value of $782,000.00. Following the sale, the vice president directly owned 126,586 shares in the company, valued at $49,495,126. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Cunningham also recently made the following trade(s):

• On Friday, May 1st, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $337.49, for a total value of $337,490.00.
• On Wednesday, April 1st, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $280.19, for a total value of $280,190.00.

Cadence Design Systems Trading Up 0.5%

Shares of NASDAQ CDNS traded up $1.75 during trading hours on Wednesday, hitting $389.60. 2,366,921 shares of the company traded hands, compared to its average volume of 2,474,309. The stock has a market capitalization of $107.46 billion, a price-to-earnings ratio of 90.82, a price-to-earnings-growth ratio of 4.67 and a beta of 1.15. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The company's 50 day moving average price is $348.82 and its 200 day moving average price is $320.05. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.05. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $1.57 EPS. The company's revenue for the quarter was up 18.6% compared to the same quarter last year. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. On average, equities research analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cadence Design Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in CDNS. Sun Financial Inc bought a new stake in Cadence Design Systems during the fourth quarter valued at about $1,225,000. MUFG Securities EMEA plc boosted its position in Cadence Design Systems by 113.9% during 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 in the last quarter. DDD Partners LLC boosted its holdings in shares of Cadence Design Systems by 27.4% in the 4th quarter. DDD Partners LLC now owns 41,968 shares of the software maker's stock valued at $13,118,000 after buying an additional 9,024 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of Cadence Design Systems in the 4th quarter valued at about $1,105,000. Finally, Allianz SE bought a new stake in shares of Cadence Design Systems in the 3rd quarter valued at about $1,265,000. Institutional investors own 84.85% of the company's stock.

Analysts Set New Price Targets

CDNS has been the topic of several analyst reports. Robert W. Baird upped their price target on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Stifel Nicolaus upped their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a "buy" rating in a report on Tuesday, June 9th. KeyCorp upped their target price on Cadence Design Systems from $405.00 to $425.00 and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Berenberg Bank set a $440.00 target price on Cadence Design Systems in a research note on Wednesday, May 27th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $360.00 price objective on shares of Cadence Design Systems in a research report on Friday, April 24th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $386.59.

Cadence Design Systems Company Profile

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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