Insider Selling: Cadence Design Systems (NASDAQ:CDNS) Director Sells $60,746.40 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) Director Ita Brennan sold 180 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 7,650 shares in the company, valued at approximately $2,581,722. This represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $323.22 on Monday. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The stock has a market cap of $87.98 billion, a PE ratio of 83.30, a P/E/G ratio of 4.16 and a beta of 1.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. The stock has a 50 day moving average price of $326.91 and a 200 day moving average price of $330.63.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CDNS. KeyCorp restated an “overweight” rating and set a $405.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Needham & Company LLC reiterated a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Citigroup assumed coverage on shares of Cadence Design Systems in a report on Monday, November 24th. They set a “buy” rating and a $385.00 price target for the company. Wells Fargo & Company lifted their price target on shares of Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Finally, Rosenblatt Securities increased their price objective on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $379.11.

Hedge Funds Weigh In On Cadence Design Systems

A number of hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC boosted its position in shares of Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after buying an additional 676 shares during the period. Townsquare Capital LLC raised its holdings in shares of Cadence Design Systems by 15.8% in the 1st quarter. Townsquare Capital LLC now owns 5,867 shares of the software maker’s stock valued at $1,492,000 after buying an additional 799 shares during the period. SouthState Corp lifted its stake in Cadence Design Systems by 40.6% during the 1st quarter. SouthState Corp now owns 239 shares of the software maker’s stock worth $61,000 after acquiring an additional 69 shares in the last quarter. National Pension Service boosted its holdings in Cadence Design Systems by 6.0% during the 1st quarter. National Pension Service now owns 636,690 shares of the software maker’s stock valued at $161,929,000 after acquiring an additional 36,262 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in Cadence Design Systems by 11.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,876 shares of the software maker’s stock valued at $2,257,000 after acquiring an additional 936 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

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.