Cadence Design Systems (NASDAQ:CDNS) CEO Anirudh Devgan Sells 51,887 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNS) CEO Anirudh Devgan sold 51,887 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $370.00, for a total value of $19,198,190.00. Following the sale, the chief executive officer directly owned 303,525 shares of the company’s stock, valued at $112,304,250. The trade was a 14.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadence Design Systems Stock Down 2.0%

Shares of Cadence Design Systems stock opened at $374.05 on Thursday. The stock has a market capitalization of $103.17 billion, a P/E ratio of 87.19, a PEG ratio of 4.52 and a beta of 1.13. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $317.92 and a two-hundred day moving average price of $312.02. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $383.80.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.57 earnings per share. 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. Equities analysts expect that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Institutional Trading of Cadence Design Systems

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a research report on Wednesday. KeyCorp boosted their target price on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Robert W. Baird lifted their price target on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Morgan Stanley dropped their price target on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Finally, Citigroup lifted their price target on Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $384.41.

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.