Cadence Design Systems Inc (CDNS) CEO Sells $4,352,000.00 in Stock

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 Friday, December 15th. The stock was sold at an average price of $43.52, for a total value of $4,352,000.00. Following the transaction, the chief executive officer now owns 533,333 shares of the company’s stock, valued at $23,210,652.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Lip Bu Tan also recently made the following trade(s):

  • On Monday, October 16th, Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $41.97, for a total value of $4,197,000.00.

Shares of Cadence Design Systems Inc (NASDAQ CDNS) traded up $0.03 during trading hours on Thursday, reaching $44.87. 1,172,800 shares of the company were exchanged, compared to its average volume of 1,964,091. The company has a market capitalization of $12,670.00, a PE ratio of 48.77, a PEG ratio of 3.61 and a beta of 0.94. Cadence Design Systems Inc has a 12-month low of $25.42 and a 12-month high of $45.64. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.79 and a quick ratio of 1.72.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Thursday, October 26th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Cadence Design Systems had a net margin of 13.45% and a return on equity of 29.00%. The firm had revenue of $485.40 million during the quarter, compared to analysts’ expectations of $481.10 million. During the same period in the prior year, the company posted $0.30 earnings per share. Cadence Design Systems’s revenue for the quarter was up 8.8% on a year-over-year basis. equities analysts anticipate that Cadence Design Systems Inc will post 1.06 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in shares of Cadence Design Systems during the fourth quarter valued at about $611,000. Parametric Portfolio Associates LLC raised its position in Cadence Design Systems by 4.1% in the third quarter. Parametric Portfolio Associates LLC now owns 706,097 shares of the software maker’s stock worth $27,870,000 after purchasing an additional 27,800 shares in the last quarter. AXA raised its position in Cadence Design Systems by 15.9% in the third quarter. AXA now owns 1,687,367 shares of the software maker’s stock worth $66,600,000 after purchasing an additional 231,832 shares in the last quarter. New Mexico Educational Retirement Board acquired a new position in Cadence Design Systems in the third quarter worth about $1,022,000. Finally, Public Employees Retirement System of Ohio raised its position in Cadence Design Systems by 35.7% in the third quarter. Public Employees Retirement System of Ohio now owns 173,384 shares of the software maker’s stock worth $6,843,000 after purchasing an additional 45,590 shares in the last quarter. Institutional investors own 84.63% of the company’s stock.

CDNS has been the topic of several research reports. DA Davidson upped their price target on Cadence Design Systems to $43.00 and gave the company a “neutral” rating in a report on Monday, October 30th. They noted that the move was a valuation call. Needham & Company LLC reissued a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, October 29th. BidaskClub raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Wednesday. Royal Bank of Canada boosted their target price on shares of Cadence Design Systems from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, October 11th. Finally, Zacks Investment Research cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $44.50.

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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).

Insider Buying and Selling by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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