Cadence Design Systems, Inc. (NASDAQ:CDNS) CEO Lip Bu Tan sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $34.68, for a total transaction of $3,468,000.00. Following the completion of the transaction, the chief executive officer now directly owns 583,332 shares of the company’s stock, valued at approximately $20,229,953.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Lip Bu Tan also recently made the following trade(s):
- On Thursday, June 15th, Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $34.04, for a total transaction of $3,404,000.00.
Shares of Cadence Design Systems, Inc. (NASDAQ CDNS) opened at 34.98 on Friday. The stock’s 50 day moving average is $34.38 and its 200-day moving average is $31.53. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 44.96 and a beta of 0.93. Cadence Design Systems, Inc. has a one year low of $23.83 and a one year high of $35.69.
Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, April 24th. The software maker reported $0.32 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. Cadence Design Systems had a net margin of 11.97% and a return on equity of 26.52%. The firm had revenue of $477 million for the quarter, compared to analyst estimates of $474.23 million. During the same period last year, the business earned $0.28 EPS. Cadence Design Systems’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts predict that Cadence Design Systems, Inc. will post $1.38 EPS for the current fiscal year.
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Large investors have recently made changes to their positions in the company. Creative Planning raised its stake in shares of Cadence Design Systems by 242.2% in the second quarter. Creative Planning now owns 3,282 shares of the software maker’s stock valued at $110,000 after buying an additional 2,323 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Cadence Design Systems by 0.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 6,370 shares of the software maker’s stock valued at $200,000 after buying an additional 31 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of Cadence Design Systems during the first quarter valued at approximately $205,000. Atria Investments LLC bought a new stake in shares of Cadence Design Systems during the second quarter valued at approximately $231,000. Finally, Janney Capital Management LLC bought a new stake in shares of Cadence Design Systems during the first quarter valued at approximately $225,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.
A number of brokerages have recently issued reports on CDNS. Zacks Investment Research raised Cadence Design Systems from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Thursday, April 27th. BidaskClub raised Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Cadence Design Systems in a research report on Friday, July 7th. Finally, DA Davidson lowered shares of Cadence Design Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $29.83.
Cadence Design Systems Company Profile
Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).
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