Rep. Gilbert Ray Cisneros, Jr. Sells Off Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Representative Gilbert Ray Cisneros, Jr. (D-California) recently sold shares of Cadence Design Systems, Inc. (NASDAQ:CDNS). In a filing disclosed on March 06th, the Representative disclosed that they had sold between $1,001 and $15,000 in Cadence Design Systems stock on February 26th. The trade occurred in the Representative’s “150 MAIN STREET TRUST > BANK OF AMERICA” account.

Representative Gilbert Ray Cisneros, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Sterling Infrastructure (NASDAQ:STRL) on 3/3/2025.
• Purchased $1,001 – $15,000 in shares of Hillman Solutions (NASDAQ:HLMN) on 3/3/2025.
• Sold $1,001 – $15,000 in shares of Ford Motor (NYSE:F) on 2/26/2025.
• Purchased $1,001 – $15,000 in shares of Uber Technologies (NYSE:UBER) on 2/26/2025.
• Sold $15,001 – $50,000 in shares of UnitedHealth Group (NYSE:UNH) on 2/26/2025.
• Purchased $15,001 – $50,000 in shares of Microsoft (NASDAQ:MSFT) on 2/26/2025.
• Sold $1,001 – $15,000 in shares of General Motors (NYSE:GM) on 2/26/2025.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 2/26/2025.
• Sold $1,001 – $15,000 in shares of Akamai Technologies (NASDAQ:AKAM) on 2/26/2025.
• Sold $1,001 – $15,000 in shares of Danaher (NYSE:DHR) on 2/26/2025.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $243.21 on Friday. Cadence Design Systems, Inc. has a twelve month low of $233.72 and a twelve month high of $328.99. The company has a current ratio of 2.93, a quick ratio of 2.27 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $288.68 and a 200-day moving average of $285.42. The firm has a market cap of $66.67 billion, a price-to-earnings ratio of 63.01, a price-to-earnings-growth ratio of 3.88 and a beta of 1.05.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Tuesday, February 18th. The software maker reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.33). Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on CDNS. Loop Capital decreased their target price on shares of Cadence Design Systems from $360.00 to $340.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Bank of America decreased their target price on shares of Cadence Design Systems from $365.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Redburn Atlantic began coverage on shares of Cadence Design Systems in a report on Monday, January 13th. They issued a “buy” rating and a $350.00 target price for the company. Piper Sandler raised their target price on shares of Cadence Design Systems from $318.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company began coverage on shares of Cadence Design Systems in a report on Friday, November 22nd. They issued an “overweight” rating and a $350.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $326.92.

Insider Activity at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 5,920 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $304.04, for a total value of $1,799,916.80. Following the transaction, the chief executive officer now owns 55,874 shares of the company’s stock, valued at $16,987,930.96. This trade represents a 9.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John M. Wall sold 4,224 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $309.03, for a total transaction of $1,305,342.72. Following the completion of the transaction, the chief financial officer now directly owns 29,248 shares in the company, valued at approximately $9,038,509.44. This represents a 12.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,416 shares of company stock valued at $33,504,126. 1.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cadence Design Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDNS. Norges Bank bought a new position in Cadence Design Systems during the fourth quarter valued at approximately $1,170,209,000. Schroder Investment Management Group raised its position in Cadence Design Systems by 53.1% during the fourth quarter. Schroder Investment Management Group now owns 2,064,219 shares of the software maker’s stock valued at $623,105,000 after acquiring an additional 716,041 shares in the last quarter. FMR LLC raised its position in Cadence Design Systems by 8.7% during the fourth quarter. FMR LLC now owns 7,978,652 shares of the software maker’s stock valued at $2,397,266,000 after acquiring an additional 639,146 shares in the last quarter. Alliancebernstein L.P. raised its position in Cadence Design Systems by 12.5% during the fourth quarter. Alliancebernstein L.P. now owns 5,676,194 shares of the software maker’s stock valued at $1,705,469,000 after acquiring an additional 632,175 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Cadence Design Systems by 25.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,937,675 shares of the software maker’s stock valued at $882,655,000 after acquiring an additional 601,834 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

About Representative Cisneros

Gil Cisneros (Democratic Party) is a member of the U.S. House, representing California’s 31st Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Cisneros (Democratic Party) is running for re-election to the U.S. House to represent California’s 31st Congressional District. He declared candidacy for the 2026 election.

Gil Cisneros served in the U.S. Navy as a supply officer from 1994 to 2004. Cisneros earned a bachelor’s degree in political science from George Washington University in 1994, a master’s in business administration from Regis University in 2002, and a master’s degree in urban education policy from Brown University in 2015. His career experience includes working as a logistics manager for Frito-Lay. In 2010, Cisneros won the lottery and became involved in activism and philanthropy, founding a scholarship program for local high school students. In 2021, President Joe Biden (D) appointed Cisneros as under secretary of defense for personnel and readiness.

About Cadence Design Systems

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.