Paul Scannell Sells 1,071 Shares of Cadence Design Systems (NASDAQ:CDNS) Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Scannell sold 1,071 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $345.06, for a total value of $369,559.26. Following the sale, the vice president owned 32,181 shares of the company’s stock, valued at approximately $11,104,375.86. The trade was a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 1st, Paul Scannell sold 10,500 shares of Cadence Design Systems stock. The shares were sold at an average price of $339.00, for a total value of $3,559,500.00.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $358.46 on Friday. The stock has a fifty day moving average price of $311.15 and a 200-day moving average price of $310.74. The company has a market cap of $98.87 billion, a price-to-earnings ratio of 83.56, a PEG ratio of 4.15 and a beta of 1.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The company’s revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.57 EPS. 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. As a group, equities analysts anticipate that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Institutional Trading of Cadence Design Systems

Several institutional investors and hedge funds have recently modified their holdings of CDNS. Y.D. More Investments Ltd bought a new stake in shares of Cadence Design Systems during the 3rd quarter worth $26,000. Whipplewood Advisors LLC lifted its position in shares of Cadence Design Systems by 933.3% during the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after buying an additional 84 shares during the last quarter. Brown Lisle Cummings Inc. lifted its position in shares of Cadence Design Systems by 860.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Cadence Design Systems during the 4th quarter worth $28,000. Finally, Caitlin John LLC bought a new stake in shares of Cadence Design Systems during the 3rd quarter worth $29,000. 84.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CDNS shares. 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 report on Tuesday, April 28th. Robert W. Baird upped their target price on Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Morgan Stanley cut their target price on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Stifel Nicolaus set a $395.00 price objective on Cadence Design Systems in a research report on Wednesday, February 18th. Finally, Piper Sandler upped their price objective on Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $380.59.

About Cadence Design Systems

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.