Paul Cunningham Sells 1,000 Shares of Cadence Design Systems (NASDAQ:CDNS) Stock

Key Points

• Paul Cunningham, the VP of Cadence Design Systems, sold 1,000 shares of the company's stock on October 1st at an average price of $348.27, totaling over $348,000, which represents a 0.99% decrease in his holdings.
• Cadence Design Systems experienced a 20.2% increase in quarterly revenue year-over-year, posting earnings of $1.65 per share, surpassing analyst expectations.
• Several analysts have rated Cadence Design Systems with a consensus of "Moderate Buy" and a price target averaging $368.53, reflecting strong confidence in the company's growth potential.

Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the completion of the transaction, the vice president owned 99,672 shares of the company's stock, valued at $34,712,767.44. This trade represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, September 2nd, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $343.95, for a total value of $343,950.00.
• On Friday, August 1st, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $358.72, for a total value of $358,720.00.

Cadence Design Systems Stock Performance

Shares of CDNS stock traded down $4.73 on Thursday, hitting $347.24. 1,649,285 shares of the stock were exchanged, compared to its average volume of 1,995,188. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $94.62 billion, a PE ratio of 93.85, a P/E/G ratio of 4.61 and a beta of 0.99. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The firm's 50 day moving average is $352.28 and its two-hundred day moving average is $312.46.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.09. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.28 EPS. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CDNS shares. Stifel Nicolaus increased their price target on Cadence Design Systems from $350.00 to $395.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. increased their price target on Cadence Design Systems from $330.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. BNP Paribas started coverage on Cadence Design Systems in a report on Thursday. They set an "outperform" rating and a $400.00 price objective on the stock. Needham & Company LLC increased their price objective on Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, Rosenblatt Securities reissued a "neutral" rating and set a $300.00 price objective on shares of Cadence Design Systems in a report on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $368.53.

Institutional Trading of Cadence Design Systems

Large investors have recently modified their holdings of the business. Smallwood Wealth Investment Management LLC purchased a new position in shares of Cadence Design Systems during the 1st quarter valued at about $25,000. Costello Asset Management INC purchased a new position in Cadence Design Systems in the 1st quarter worth approximately $25,000. Saudi Central Bank purchased a new position in Cadence Design Systems in the 1st quarter worth approximately $27,000. Valley National Advisers Inc. increased its stake in Cadence Design Systems by 707.1% in the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after purchasing an additional 99 shares during the period. Finally, Barrett & Company Inc. purchased a new position in Cadence Design Systems in the 2nd quarter worth approximately $31,000. Institutional investors own 84.85% of the company's stock.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.

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