Rep. Robert Bresnahan, Jr. Buys Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Cadence Design Systems, Inc. (NASDAQ:CDNS). In a filing disclosed on April 09th, the Representative disclosed that they had bought between $1,001 and $15,000 in Cadence Design Systems stock on March 17th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT #2” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 3/13/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 3/13/2025.
• Purchased $1,001 – $15,000 in shares of SEA (NYSE:SE) on 3/11/2025.
• Sold $1,001 – $15,000 in shares of Reddit (NYSE:RDDT) on 3/11/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 3/11/2025.
• Sold $1,001 – $15,000 in shares of Oracle (NYSE:ORCL) on 3/11/2025.
• Purchased $1,001 – $15,000 in shares of International Business Machines (NYSE:IBM) on 3/11/2025.
• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 3/11/2025.
• Sold $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 3/11/2025.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 3/11/2025.

Cadence Design Systems Price Performance

Shares of CDNS opened at $259.47 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.93 and a quick ratio of 2.27. The company has a market capitalization of $71.18 billion, a price-to-earnings ratio of 67.22, a P/E/G ratio of 3.88 and a beta of 1.14. The business’s 50-day moving average is $261.43 and its 200-day moving average is $282.45. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last released 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). The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. Equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of recent research reports. Oppenheimer lowered their target price on Cadence Design Systems from $225.00 to $200.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 19th. Rosenblatt Securities increased their price objective on Cadence Design Systems from $280.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Piper Sandler raised their price objective on shares of Cadence Design Systems from $318.00 to $328.00 and gave the company an “overweight” rating in a research 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 research report on Wednesday, February 19th. Finally, StockNews.com downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus target price of $324.83.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CDNS. First Affirmative Financial Network increased its stake in shares of Cadence Design Systems by 5.6% in the first quarter. First Affirmative Financial Network now owns 1,719 shares of the software maker’s stock worth $437,000 after purchasing an additional 91 shares during the period. Congress Asset Management Co. increased its position in Cadence Design Systems by 1.8% in the 1st quarter. Congress Asset Management Co. now owns 33,755 shares of the software maker’s stock worth $8,585,000 after buying an additional 612 shares during the period. KRS Capital Management LLC lifted its holdings in shares of Cadence Design Systems by 2.2% during the first quarter. KRS Capital Management LLC now owns 2,363 shares of the software maker’s stock worth $601,000 after buying an additional 50 shares during the last quarter. Chesley Taft & Associates LLC boosted its position in shares of Cadence Design Systems by 61.1% in the first quarter. Chesley Taft & Associates LLC now owns 13,769 shares of the software maker’s stock valued at $3,502,000 after acquiring an additional 5,224 shares during the period. Finally, Secure Asset Management LLC acquired a new stake in shares of Cadence Design Systems in the first quarter worth $283,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $252.64, for a total transaction of $164,216.00. Following the sale, the vice president now directly owns 108,799 shares of the company’s stock, valued at $27,486,979.36. This trade represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 1,950 shares of company stock valued at $518,499. 1.99% of the stock is owned by company insiders.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

Cadence Design Systems Company Profile

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.