Anirudh Devgan Sells 25,005 Shares of Cadence Design Systems (NASDAQ:CDNS) Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) CEO Anirudh Devgan sold 25,005 shares of Cadence Design Systems stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total value of $10,377,075.00. Following the completion of the transaction, the chief executive officer directly owned 253,519 shares of the company’s stock, valued at approximately $105,210,385. This represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anirudh Devgan also recently made the following trade(s):

• On Monday, June 1st, Anirudh Devgan sold 51,822 shares of Cadence Design Systems stock. The shares were sold at an average price of $395.00, for a total value of $20,469,690.00.
• On Friday, May 22nd, Anirudh Devgan sold 51,887 shares of Cadence Design Systems stock. The shares were sold at an average price of $370.00, for a total value of $19,198,190.00.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $411.92 on Friday. The company has a market cap of $113.61 billion, a P/E ratio of 96.02, a P/E/G ratio of 4.83 and a beta of 1.15. 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 stock has a 50-day moving average of $331.27 and a two-hundred day moving average of $315.41. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.05. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.Cadence Design Systems’s revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.57 EPS. 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 anticipate that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Key Stories Impacting Cadence Design Systems

Here are the key news stories impacting Cadence Design Systems this week:

• Positive Sentiment: Analysts and commentators remain constructive on Cadence’s business, citing strong demand tied to semiconductor complexity and AI chip development. One bullish note assigned a $470 price target and pointed to 19% year-over-year revenue growth, a record $8 billion backlog, and broad-based growth across the company’s EDA and SDA segments. Article: Cadence: The Silicon Arms Race Is Just Getting Started
• Positive Sentiment: Recent coverage also highlighted Cadence as a key “picks-and-shovels” AI play, reinforcing expectations that its software tools remain essential for advanced chip design and verification. Article: Beyond NVIDIA: Picks-and-Shovels AI Plays with Strong Momentum
• Neutral Sentiment: Cadence presented at the Bank of America Global Technology Conference, which helps keep the company in focus but did not introduce major new operational guidance or earnings news. Article: Cadence Design Systems, Inc. (CDNS) Presents at Bank of America 2026 Global Technology Conference Transcript
• Negative Sentiment: Insider selling has likely weighed on sentiment, with CEO Anirudh Devgan and VP Paul Scannell both selling shares recently under pre-arranged 10b5-1 plans. While routine, these sales can still make investors cautious after the stock’s sharp run-up. Article: Insider trade details for Anirudh Devgan
• Negative Sentiment: Options activity also leaned bearish, with unusually heavy buying of put options suggesting some traders are hedging against a pullback in CDNS after recent strength. Article: Cadence Design Systems stock page
• Negative Sentiment: Several headlines said CDNS underperformed the broader market and technology sector recently, consistent with investors taking profits near its 52-week high after a strong move higher. Article: Here’s Why Cadence Design Systems (CDNS) Fell More Than Broader Market

Institutional Investors Weigh In On Cadence Design Systems

Several institutional investors have recently added to or reduced their stakes in CDNS. Peterson Wealth Services lifted its stake in Cadence Design Systems by 1,501.3% in the third quarter. Peterson Wealth Services now owns 187,115 shares of the software maker’s stock valued at $65,726,000 after buying an additional 175,430 shares during the last quarter. Sun Financial Inc purchased a new stake in Cadence Design Systems in the fourth quarter valued at approximately $1,225,000. MUFG Securities EMEA plc lifted its stake in Cadence Design Systems by 113.9% in the fourth quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock valued at $3,488,000 after buying an additional 5,943 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Cadence Design Systems by 301.9% in the third quarter. Thrivent Financial for Lutherans now owns 49,999 shares of the software maker’s stock valued at $17,563,000 after buying an additional 37,558 shares during the last quarter. Finally, DDD Partners LLC lifted its stake in Cadence Design Systems by 27.4% in the fourth quarter. DDD Partners LLC now owns 41,968 shares of the software maker’s stock valued at $13,118,000 after buying an additional 9,024 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CDNS. KeyCorp lifted their target price on Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Robert W. Baird boosted their price objective on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Morgan Stanley lowered their price objective on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Piper Sandler boosted their price objective on Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company boosted their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $384.41.

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.