Cadence Design Systems (NASDAQ:CDNS) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Cadence Design Systems (NASDAQ:CDNS) announced its quarterly earnings results on Monday. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.06, FiscalAI reports. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. Cadence Design Systems updated its FY 2026 guidance to 8.050-8.150 EPS.

Cadence Design Systems Stock Up 3.8%

Shares of NASDAQ CDNS traded up $12.37 during midday trading on Monday, hitting $338.61. The stock had a trading volume of 3,360,717 shares, compared to its average volume of 2,460,094. The company has a market cap of $93.40 billion, a P/E ratio of 78.93, a PEG ratio of 3.86 and a beta of 1.15. Cadence Design Systems has a 52 week low of $262.75 and a 52 week high of $416.69. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $373.92 and its 200-day moving average is $329.47.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CDNS. KeyCorp boosted their price target on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a research note on Wednesday, May 27th. Rosenblatt Securities increased their price target on Cadence Design Systems from $375.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Stifel Nicolaus raised their price target on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Insiders Place Their Bets

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the sale, the director owned 8,004 shares of the company’s stock, valued at approximately $3,101,149.80. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 7,081 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $393.91, for a total value of $2,789,276.71. Following the transaction, the vice president directly owned 32,181 shares in the company, valued at approximately $12,676,417.71. The trade was a 18.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 157,057 shares of company stock worth $60,272,277. 0.49% of the stock is owned by corporate insiders.

Institutional Trading of Cadence Design Systems

A number of institutional investors have recently made changes to their positions in CDNS. Townsquare Capital LLC raised its holdings in shares of Cadence Design Systems by 3.6% during the fourth quarter. Townsquare Capital LLC now owns 977 shares of the software maker’s stock valued at $305,000 after purchasing an additional 34 shares during the last quarter. Triumph Capital Management boosted its holdings in Cadence Design Systems by 6.9% in the fourth quarter. Triumph Capital Management now owns 539 shares of the software maker’s stock worth $168,000 after purchasing an additional 35 shares during the last quarter. Jacobi Capital Management LLC grew its position in Cadence Design Systems by 3.8% in the 4th quarter. Jacobi Capital Management LLC now owns 976 shares of the software maker’s stock worth $305,000 after purchasing an additional 36 shares during the period. Circle Wealth Management LLC raised its stake in Cadence Design Systems by 1.5% during the 4th quarter. Circle Wealth Management LLC now owns 3,327 shares of the software maker’s stock valued at $1,040,000 after buying an additional 50 shares during the last quarter. Finally, L2 Asset Management LLC raised its stake in Cadence Design Systems by 4.2% during the 3rd quarter. L2 Asset Management LLC now owns 1,277 shares of the software maker’s stock valued at $449,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

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.