Cadence Design Systems (NASDAQ:CDNS) Director James Plummer Sells 1,511 Shares

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

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $394.50 on Tuesday. The firm has a market cap of $108.81 billion, a PE ratio of 91.96, a price-to-earnings-growth ratio of 4.56 and a beta of 1.15. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The firm’s 50-day simple moving average is $346.64 and its 200-day simple moving average is $319.47. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.05. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. Cadence Design Systems’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the business 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. Equities analysts forecast that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Lombard Odier Asset Management Europe Ltd grew its position in Cadence Design Systems by 30.9% in the 1st quarter. Lombard Odier Asset Management Europe Ltd now owns 52,941 shares of the software maker’s stock worth $14,711,000 after purchasing an additional 12,495 shares during the last quarter. Rathbones Group PLC grew its position in Cadence Design Systems by 2.7% in the 1st quarter. Rathbones Group PLC now owns 633,384 shares of the software maker’s stock worth $175,998,000 after purchasing an additional 16,832 shares during the last quarter. Groupama Asset Managment grew its position in Cadence Design Systems by 5.1% in the 1st quarter. Groupama Asset Managment now owns 67,891 shares of the software maker’s stock worth $18,865,000 after purchasing an additional 3,286 shares during the last quarter. Western Wealth Management LLC grew its position in Cadence Design Systems by 63.7% in the 1st quarter. Western Wealth Management LLC now owns 1,185 shares of the software maker’s stock worth $329,000 after purchasing an additional 461 shares during the last quarter. Finally, Centaurus Financial Inc. grew its position in Cadence Design Systems by 48.4% in the 1st quarter. Centaurus Financial Inc. now owns 917 shares of the software maker’s stock worth $255,000 after purchasing an additional 299 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

CDNS has been the topic of several research reports. Morgan Stanley dropped their price objective 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 increased their price objective 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. Robert W. Baird increased their price objective on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Citigroup increased their price objective on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company increased their price objective 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. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus price target of $386.59.

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.