Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Aneel Zaman Sells 6,253 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNSGet Rating) VP Aneel Zaman sold 6,253 shares of Cadence Design Systems stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $180.00, for a total value of $1,125,540.00. Following the sale, the vice president now owns 96,261 shares of the company’s stock, valued at approximately $17,326,980. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Aneel Zaman also recently made the following trade(s):

  • On Tuesday, May 31st, Aneel Zaman sold 22,542 shares of Cadence Design Systems stock. The stock was sold at an average price of $153.36, for a total value of $3,457,041.12.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $185.04 on Tuesday. The stock’s 50 day moving average price is $156.48 and its 200 day moving average price is $152.57. The firm has a market capitalization of $50.68 billion, a PE ratio of 66.32, a price-to-earnings-growth ratio of 3.17 and a beta of 1.15. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.49 and a current ratio of 1.59. Cadence Design Systems, Inc. has a one year low of $132.32 and a one year high of $192.70.

Cadence Design Systems (NASDAQ:CDNSGet Rating) last released its quarterly earnings results on Monday, July 25th. The software maker reported $1.08 EPS for the quarter, topping the consensus estimate of $0.96 by $0.12. The firm had revenue of $858.00 million for the quarter, compared to analyst estimates of $835.01 million. Cadence Design Systems had a return on equity of 32.06% and a net margin of 23.61%. Cadence Design Systems’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. As a group, sell-side analysts expect that Cadence Design Systems, Inc. will post 3.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Cadence Design Systems

A number of institutional investors have recently made changes to their positions in the business. Lindbrook Capital LLC raised its position in shares of Cadence Design Systems by 13.9% in the 2nd quarter. Lindbrook Capital LLC now owns 1,528 shares of the software maker’s stock valued at $229,000 after purchasing an additional 186 shares in the last quarter. Jag Capital Management LLC bought a new stake in shares of Cadence Design Systems in the 2nd quarter valued at approximately $620,000. Parallel Advisors LLC increased its holdings in shares of Cadence Design Systems by 53.4% in the 2nd quarter. Parallel Advisors LLC now owns 5,863 shares of the software maker’s stock valued at $880,000 after acquiring an additional 2,042 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Cadence Design Systems by 495.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 584 shares of the software maker’s stock valued at $88,000 after acquiring an additional 486 shares during the last quarter. Finally, Empirical Finance LLC increased its holdings in shares of Cadence Design Systems by 5.7% in the 2nd quarter. Empirical Finance LLC now owns 5,524 shares of the software maker’s stock valued at $829,000 after acquiring an additional 300 shares during the last quarter. 84.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Bank of America upgraded Cadence Design Systems from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $160.00 to $175.00 in a research report on Wednesday, June 29th. UBS Group lifted their price target on Cadence Design Systems from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, April 26th. Robert W. Baird lowered their price target on Cadence Design Systems from $211.00 to $203.00 in a report on Tuesday, April 26th. Rosenblatt Securities lifted their price target on Cadence Design Systems from $170.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, July 26th. Finally, KeyCorp lifted their price target on Cadence Design Systems from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, April 26th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $189.30.

About Cadence Design Systems

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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.

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

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