Anirudh Devgan Sells 51,822 Shares of Cadence Design Systems (NASDAQ:CDNS) Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) CEO Anirudh Devgan sold 51,822 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $395.00, for a total transaction of $20,469,690.00. Following the transaction, the chief executive officer owned 278,524 shares in the company, valued at $110,016,980. This represents a 15.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, June 2nd, Anirudh Devgan sold 25,005 shares of Cadence Design Systems stock. The shares were sold at an average price of $415.00, for a total transaction of $10,377,075.00.
• 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 transaction of $19,198,190.00.

Cadence Design Systems Price Performance

NASDAQ CDNS opened at $411.92 on Friday. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month 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 firm has a market capitalization of $113.61 billion, a PE ratio of 96.02, a P/E/G ratio of 4.83 and a beta of 1.15. The company’s 50 day simple moving average is $331.27 and its 200 day simple moving average is $315.41.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business earned $1.57 earnings per share. The business’s revenue for the quarter 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. As a group, equities research analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Cadence Design Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Y.D. More Investments Ltd acquired a new position in Cadence Design Systems in the 3rd quarter worth approximately $26,000. Caitlin John LLC acquired a new position in Cadence Design Systems in the 3rd quarter worth approximately $29,000. University of Texas Texas AM Investment Management Co. acquired a new position in Cadence Design Systems in the 4th quarter worth approximately $28,000. Imprint Wealth LLC acquired a new position in Cadence Design Systems in the 3rd quarter worth approximately $31,000. Finally, Whipplewood Advisors LLC boosted its stake in Cadence Design Systems by 933.3% in the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

Key Headlines 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

Analysts Set New Price Targets

Several research firms have issued reports on CDNS. Robert W. Baird lifted their price target on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. 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 report on Tuesday, May 26th. Stifel Nicolaus set a $395.00 price target on shares of Cadence Design Systems in a research report on Wednesday, February 18th. KeyCorp lifted their price target on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Finally, Citigroup lifted their price target 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. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $384.41.

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.