Sr. VP Paul Cunningham sells $554k in Cadence Design Systems stock

Cadence Design Systems Senior Vice President Paul Cunningham sold 2,000 shares of the company's stock for a total of $554,240 on September 15, 2026. Cunningham executed the sale in accordance with a pre-approved trading plan, which he established on March 16, 2026. Since then, CDNS shares have been trading close to $281, representing a 19% decrease from the previous year's value.

Despite the decline, InvestingPro's analysis indicates the stock remains undervalued at its current price point. During the same period, Cunningham also purchased 1,000 shares of common stock through the exercise of non-qualified stock options, amounting to $138,020. The options vested at a rate of 1/48th per month, beginning on March 25, 2021.

Furthermore, 793 shares were withheld to fulfill tax obligations related to the vesting of a Performance Stock Award, valued at $217,250 based on a share price of $273.96. Cadence Design Systems recently reported robust second-quarter fiscal 2026 results, with revenue soaring to $1.584 billion, marking a 24% increase year-over-year.

This performance met Wall Street expectations, and the company's adjusted earnings per share exceeded the consensus estimate, reaching $2.11 compared to the predicted $2.05. Adjusted operating margin also surpassed forecasts at 45.5%. Following these results, Cadence increased its full-year 2026 revenue guidance significantly. Analyst firms have responded favorably to these developments, with Benchmark maintaining a Buy rating and setting a $450 price target, while Stifel and Piper Sandler have also confirmed their Buy ratings with respective price targets of $432 and $349.

Additionally, KeyBanc reaffirmed its Overweight rating, emphasizing the substantial increase in the company's revenue guidance.