Insider Selling: Cadence Design Systems (NASDAQ:CDNS) Director Sells $576,204.74 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) Director James Plummer sold 1,511 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $381.34, for a total transaction of $576,204.74. Following the sale, the director directly owned 23,264 shares in the company, valued at $8,871,493.76. The trade was a 6.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadence Design Systems Trading Up 0.5%

NASDAQ:CDNS opened at $389.60 on Thursday. Cadence Design Systems, Inc. has a one year low of $262.75 and a one year high of $416.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. The company’s 50-day simple moving average is $351.03 and its 200 day simple moving average is $320.63. The firm has a market capitalization of $107.46 billion, a P/E ratio of 90.82, a PEG ratio of 4.59 and a beta of 1.15.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $360.00 price target on shares of Cadence Design Systems in a research note on Friday, April 24th. Wells Fargo & Company lifted their price target on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Finally, Stifel Nicolaus lifted their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus price target of $386.59.

Institutional Trading of Cadence Design Systems

Several large investors have recently added to or reduced their stakes in the business. Pinnacle Wealth Management Advisory Group LLC grew its position in Cadence Design Systems by 3.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker’s stock valued at $287,000 after buying an additional 31 shares during the period. Westfuller Advisors LLC grew its position in Cadence Design Systems by 8.2% during the first quarter. Westfuller Advisors LLC now owns 408 shares of the software maker’s stock valued at $113,000 after buying an additional 31 shares during the period. Spirepoint Private Client LLC boosted its position in shares of Cadence Design Systems by 4.6% in the fourth quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker’s stock worth $226,000 after purchasing an additional 32 shares during the period. Cornerstone Planning Group LLC boosted its position in shares of Cadence Design Systems by 32.0% in the first quarter. Cornerstone Planning Group LLC now owns 132 shares of the software maker’s stock worth $37,000 after purchasing an additional 32 shares during the period. Finally, KCM Investment Advisors LLC boosted its position in shares of Cadence Design Systems by 0.4% in the first quarter. KCM Investment Advisors LLC now owns 8,013 shares of the software maker’s stock worth $2,227,000 after purchasing an additional 32 shares during the period. 84.85% of the stock is currently owned by institutional investors.

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.