Cadence Design Systems (NASDAQ:CDNS) CFO Sells $8,857,838.85 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) CFO John Wall sold 27,805 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the transaction, the chief financial officer directly owned 69,957 shares of the company’s stock, valued at approximately $22,286,201.49. This represents a 28.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS traded up $2.08 during midday trading on Thursday, hitting $315.10. The company’s stock had a trading volume of 1,816,938 shares, compared to its average volume of 1,943,247. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. The stock’s 50 day simple moving average is $324.28 and its 200 day simple moving average is $330.88. The stock has a market capitalization of $85.77 billion, a price-to-earnings ratio of 81.21, a PEG ratio of 4.11 and a beta of 1.05. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.14. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.64 EPS. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 EPS. As a group, research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Analysts Set New Price Targets

CDNS has been the topic of a number of research reports. Wall Street Zen lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. BNP Paribas Exane began coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cadence Design Systems in a research note on Monday. JPMorgan Chase & Co. upped their price target on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Finally, Oppenheimer upgraded Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective for the company in a research report on Monday, December 1st. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $379.11.

Hedge Funds Weigh In On Cadence Design Systems

A number of hedge funds have recently modified their holdings of CDNS. Y.D. More Investments Ltd bought a new position in shares of Cadence Design Systems in the third quarter valued at about $26,000. Saudi Central Bank acquired a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $27,000. Caitlin John LLC bought a new position in Cadence Design Systems in the 3rd quarter worth approximately $29,000. Barrett & Company Inc. acquired a new position in Cadence Design Systems during the 2nd quarter worth $31,000. Finally, Imprint Wealth LLC bought a new position in Cadence Design Systems in the 3rd quarter valued at $31,000. 84.85% of the stock is owned by institutional investors and hedge funds.

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.