Insider Selling: Cadence Design Systems (NASDAQ:CDNS) Director Sells $69,741.00 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) Director Ita Brennan sold 180 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total transaction of $69,741.00. Following the sale, the director directly owned 8,004 shares in the company, valued at approximately $3,101,149.80. The trade was a 2.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadence Design Systems Price Performance

CDNS stock opened at $384.96 on Monday. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company’s 50 day moving average is $344.32 and its two-hundred day moving average is $318.83. The stock has a market cap of $106.18 billion, a P/E ratio of 89.73, a PEG ratio of 4.56 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company earned $1.57 earnings per share. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. 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. Research analysts expect that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cadence Design Systems

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CDNS. Rosenblatt Securities restated a “buy” rating and set a $360.00 target price on shares of Cadence Design Systems in a research report on Friday, April 24th. KeyCorp raised 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. Piper Sandler raised their target price on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Finally, Stifel Nicolaus raised their target price on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $386.59.

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.