Cadence Design Systems (NASDAQ:CDNS) Director Ita Brennan Sells 180 Shares of Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) Director Ita Brennan sold 180 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total value of $60,746.40. Following the sale, the director owned 7,650 shares in the company, valued at approximately $2,581,722. This represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $323.22 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The stock has a market cap of $87.98 billion, a PE ratio of 83.30, a price-to-earnings-growth ratio of 4.31 and a beta of 1.05. The stock has a fifty day moving average of $326.91 and a 200-day moving average of $330.28.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the firm posted $1.64 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. 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. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Hedge Funds Weigh In On Cadence Design Systems

Several institutional investors have recently modified their holdings of the company. Saranac Partners Ltd purchased a new stake in Cadence Design Systems in the third quarter worth approximately $4,266,000. Allworth Financial LP raised its stake in shares of Cadence Design Systems by 4.9% during the third quarter. Allworth Financial LP now owns 10,311 shares of the software maker’s stock worth $3,622,000 after acquiring an additional 478 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Cadence Design Systems by 34.6% in the 3rd quarter. IFP Advisors Inc now owns 828 shares of the software maker’s stock worth $291,000 after acquiring an additional 213 shares during the last quarter. Swiss Life Asset Management Ltd lifted its holdings in shares of Cadence Design Systems by 6.9% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 97,294 shares of the software maker’s stock worth $34,175,000 after acquiring an additional 6,258 shares during the last quarter. Finally, Strategic Advocates LLC purchased a new stake in shares of Cadence Design Systems in the 3rd quarter valued at $126,000. 84.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CDNS has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Robert W. Baird upped their price target on shares of Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. BNP Paribas Exane started coverage on Cadence Design Systems in a research report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price objective on the stock. BNP Paribas started coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective for the company. Finally, KeyCorp restated an “overweight” rating and issued a $405.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $379.11.

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.