Insider Selling: Cadence Design Systems (NASDAQ:CDNS) VP Sells $646,640.00 in Stock

Key Points

• Cadence Design Systems VP Paul Cunningham sold 2,000 shares for $646,640 at an average price of $323.32 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 1.58%.
• CDNS shares recently traded at $314.98, down 0.5%, and remain below their 50-day moving average of $356.42. The stock has a $86.74 billion market capitalization and a trailing P/E ratio of 62.62.
• Cadence exceeded quarterly EPS estimates and reported 24.2% year-over-year revenue growth. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $405.69.

Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) VP Paul Cunningham sold 2,000 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $323.32, for a total transaction of $646,640.00. Following the completion of the transaction, the vice president directly owned 124,586 shares in the company, valued at $40,281,145.52. This trade represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 Monday, June 15th, Paul Cunningham sold 2,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $391.00, for a total transaction of $782,000.00.

Cadence Design Systems Stock Down 0.5%

Shares of CDNS traded down $1.54 during trading hours on Wednesday, hitting $314.98. 1,902,702 shares of the company were exchanged, compared to its average volume of 2,390,308. The firm's 50 day moving average is $356.42 and its 200-day moving average is $331.22. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. 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 cap of $86.74 billion, a PE ratio of 62.62, a PEG ratio of 3.40 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.06. The firm had revenue of $1.58 billion during the quarter, compared to analysts' expectations 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 was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the business 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. On average, equities research analysts forecast that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.

Institutional Trading of Cadence Design Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock valued at $456,000 after acquiring an additional 676 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake 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 worth $560,000 after purchasing an additional 80 shares during the period. Thompson Davis & CO. Inc. bought a new stake in Cadence Design Systems in the second quarter valued at about $205,000. NewEdge Advisors LLC lifted its stake in Cadence Design Systems by 39.3% in the second quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker's stock valued at $10,720,000 after buying an additional 9,807 shares during the period. Finally, Glenview Trust co bought a new position in Cadence Design Systems during the second quarter worth about $226,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CDNS. Bank of America boosted their price objective 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. Piper Sandler boosted their price target on shares of Cadence Design Systems from $325.00 to $349.00 and gave the company a "neutral" rating in a report on Tuesday, July 28th. Citigroup raised their price objective 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. Needham & Company LLC reissued a "buy" rating and issued a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Finally, Wall Street Zen raised Cadence Design Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cadence Design Systems has an average rating of "Moderate Buy" and a consensus target price of $405.69.

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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