Cadence design systems Sr. VP Paul Scannell sells $94,920 in stock

Paul Scannell, Senior Vice President at Cadence Design Systems Inc. (NASDAQ:CDNS), sold 280 shares of common stock on August 26, 2026. The shares were sold at a price of $339.0 per share, totaling $94,920. The stock has since declined to $306.67, down roughly 11% over the past year, according to InvestingPro data.

The transaction was executed pursuant to a Rule 10b5-1 trading plan, which Mr. Scannell adopted on September 9, 2025. Following this sale, Mr. Scannell directly holds 31,720 shares of Cadence Design Systems common stock.The timing of the sale comes as InvestingPro Tips highlight that CDNS has fallen significantly over the last three months. The company trades at a P/E ratio of 60.62, though InvestingPro’s Fair Value analysis suggests the stock remains near fair value. For deeper insights into CDNS, including 14 additional ProTips, visit the comprehensive Pro Research Report available exclusively to subscribers.

In other recent news, Cadence Design Systems reported strong financial results for the second quarter of fiscal 2026. The company achieved revenue of $1.584 billion, marking a 24% increase from the previous year, and adjusted earnings per share of $2.11, surpassing the consensus estimate of $2.05. Cadence also raised its full-year 2026 revenue guidance significantly. Benchmark reiterated its Buy rating with a $450 price target, while Stifel also maintained a Buy rating with a $432 price target, highlighting strong margins. Piper Sandler increased its price target to $349, emphasizing growth in Core EDA, IP, and Hardware, despite maintaining a Neutral rating. KeyBanc reiterated an Overweight rating with a $425 price target, noting broad-based strength and a significant increase in revenue guidance. Rosenblatt raised its price target to $420, citing AI momentum and stronger-than-expected IP sales. These developments reflect a positive outlook from multiple analyst firms on Cadence’s performance.