Cadence Design Systems (NASDAQ:CDNS) Director Ita Brennan Sells 180 Shares of Stock

by · The Cerbat Gem

Cadence Design Systems, Inc. (NASDAQ:CDNS – Get Free Report) Director Ita Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $285.51, for a total value of $51,391.80. Following the sale, the director directly owned 7,824 shares in the company, valued at $2,233,830.24. The trade was a 2.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS traded down $10.31 on Monday, hitting $279.06. The company’s stock had a trading volume of 2,335,314 shares, compared to its average volume of 2,450,967. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69. The company has a market capitalization of $76.85 billion, a price-to-earnings ratio of 55.48, a price-to-earnings-growth ratio of 3.10 and a beta of 1.14. The stock’s 50-day moving average is $332.84 and its two-hundred day moving average is $333.88. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74.

Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.06. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the firm posted $1.65 earnings per share. The business’s revenue was up 24.2% on a year-over-year basis. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. On average, equities research analysts forecast that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its stake in Cadence Design Systems by 37,856.6% in the second quarter. California State Teachers Retirement System now owns 154,968,502 shares of the software maker’s stock valued at $58,162,778,000 after acquiring an additional 154,560,224 shares during the last quarter. State Street Corp raised its position in shares of Cadence Design Systems by 1.1% during the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock valued at $3,939,561,000 after acquiring an additional 135,206 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Cadence Design Systems by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock valued at $2,378,707,000 after acquiring an additional 92,152 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Cadence Design Systems by 21.8% in the 2nd quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker’s stock valued at $1,835,227,000 after purchasing an additional 874,392 shares during the period. Finally, Norges Bank acquired a new position in shares of Cadence Design Systems in the 4th quarter valued at $1,352,922,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the topic of several recent research reports. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Piper Sandler lifted their target price on Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. 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 report on Tuesday, May 26th. Finally, Oppenheimer reiterated a “market perform” rating and issued a $300.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 28th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $403.88.

Read Our Latest Analysis on CDNS

About Cadence Design Systems

(Get Free Report)

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware and semiconductor intellectual property (IP). Its products help engineers design, verify and analyze integrated circuits, printed circuit boards and complete electronic systems.

The company offers solutions spanning digital and custom IC design, functional verification, digital and analog simulation, emulation and prototyping, system analysis, and 3D computational fluid dynamics.

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