Paul Cunningham Sells 1,000 Shares of Cadence Design Systems (NASDAQ:CDNS) Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $315.70, for a total value of $315,700.00. Following the transaction, the vice president owned 96,067 shares of the company’s stock, valued at approximately $30,328,351.90. This represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Paul Cunningham also recently made the following trade(s):

• On Monday, December 1st, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $312.64, for a total value of $312,640.00.
• On Monday, November 3rd, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $340.26, for a total transaction of $340,260.00.

Cadence Design Systems Stock Performance

CDNS opened at $320.54 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. The firm has a fifty day moving average price of $319.07 and a 200 day moving average price of $332.66. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45. The stock has a market cap of $87.25 billion, a P/E ratio of 82.61, a P/E/G ratio of 3.51 and a beta of 1.02.

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

Analysts Set New Price Targets

Several analysts have commented on CDNS shares. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a report on Monday, December 29th. BNP Paribas Exane initiated coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target on the stock. Citigroup started coverage on shares of Cadence Design Systems in a report on Monday, November 24th. They issued a “buy” rating and a $385.00 price target for the company. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus target price of $379.11.

Institutional Investors Weigh In On Cadence Design Systems

Hedge funds have recently modified their holdings of the business. Y.D. More Investments Ltd acquired a new stake in Cadence Design Systems in the 3rd quarter valued at about $26,000. Caitlin John LLC purchased a new stake in shares of Cadence Design Systems in the third quarter valued at approximately $29,000. Barrett & Company Inc. acquired a new stake in shares of Cadence Design Systems in the second quarter valued at approximately $31,000. Imprint Wealth LLC purchased a new position in Cadence Design Systems during the third quarter worth approximately $31,000. Finally, Strategic Wealth Investment Group LLC acquired a new position in Cadence Design Systems during the second quarter worth $32,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

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.