John Wall Sells 27,805 Shares of Cadence Design Systems (NASDAQ:CDNS) Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) CFO John Wall sold 27,805 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the completion of the transaction, the chief financial officer directly owned 69,957 shares in the company, valued at approximately $22,286,201.49. The trade was a 28.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Cadence Design Systems Price Performance

Shares of CDNS opened at $314.91 on Friday. The company has a 50 day moving average of $324.04 and a two-hundred day moving average of $331.03. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The company has a market cap of $85.72 billion, a price-to-earnings ratio of 81.16, a price-to-earnings-growth ratio of 4.05 and a beta of 1.05.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm 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. As a group, analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cadence Design Systems

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Cadence Design Systems by 1.2% during the third quarter. Vanguard Group Inc. now owns 26,923,317 shares of the software maker’s stock worth $9,457,084,000 after acquiring an additional 327,456 shares during the period. State Street Corp increased its stake in shares of Cadence Design Systems by 1.2% during the third quarter. State Street Corp now owns 12,468,162 shares of the software maker’s stock worth $4,379,567,000 after purchasing an additional 149,577 shares in the last quarter. Jennison Associates LLC raised its position in shares of Cadence Design Systems by 3.0% during the 2nd quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock worth $2,877,536,000 after purchasing an additional 273,149 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cadence Design Systems by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker’s stock valued at $1,952,771,000 after buying an additional 77,478 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Cadence Design Systems by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock worth $1,866,739,000 after buying an additional 731,788 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the subject of several research analyst reports. Wolfe Research reaffirmed an “outperform” rating and issued a $385.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 28th. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. BNP Paribas initiated coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective for the company. Robert W. Baird upped their target price on Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cadence Design Systems in a research note on Monday. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and an average target price of $379.11.

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.