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

Cadence Design Systems, Inc. (NASDAQ:CDNS) CEO Anirudh Devgan sold 51,887 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the completion of the transaction, the chief executive officer directly owned 303,525 shares in the company, valued at approximately $112,304,250. This represents a 14.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $373.85 on Friday. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $383.80. The company has a market capitalization of $103.12 billion, a price-to-earnings ratio of 87.14, a price-to-earnings-growth ratio of 4.43 and a beta of 1.13. 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 firm’s fifty day moving average price is $319.52 and its 200 day moving average price is $312.37.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly 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. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the firm posted $1.57 EPS. The firm’s quarterly revenue 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. On average, research analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Piper Sandler lifted their price target on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, April 28th. Citigroup boosted their target price on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company boosted their target price on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average target price of $384.41.

Institutional Investors Weigh In On Cadence Design Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Y.D. More Investments Ltd acquired a new position in shares of Cadence Design Systems in the 3rd quarter valued at about $26,000. Whipplewood Advisors LLC boosted its holdings 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 valued at $26,000 after buying an additional 84 shares during the period. Brown Lisle Cummings Inc. boosted its stake in Cadence Design Systems by 860.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in Cadence Design Systems during the 4th quarter valued at about $28,000. Finally, Caitlin John LLC acquired a new position in Cadence Design Systems during the 3rd quarter valued at about $29,000. Institutional investors own 84.85% of the company’s stock.

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.