Aneel Zaman Sells 4,076 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock

Cadence Design Systems, Inc. (NASDAQ:CDNSGet Rating) VP Aneel Zaman sold 4,076 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $183.90, for a total value of $749,576.40. Following the completion of the sale, the vice president now directly owns 96,261 shares of the company’s stock, valued at $17,702,397.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

  • On Thursday, July 28th, Aneel Zaman sold 6,253 shares of Cadence Design Systems stock. The shares were sold at an average price of $180.00, for a total value of $1,125,540.00.
  • On Tuesday, May 31st, Aneel Zaman sold 22,542 shares of Cadence Design Systems stock. The shares were sold at an average price of $153.36, for a total value of $3,457,041.12.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $185.58 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $158.74 and a 200-day simple moving average of $153.15. The company has a market cap of $50.82 billion, a PE ratio of 66.52, a P/E/G ratio of 3.13 and a beta of 1.15. Cadence Design Systems, Inc. has a 12-month low of $132.32 and a 12-month high of $192.70.

Cadence Design Systems (NASDAQ:CDNSGet Rating) last released its earnings results on Monday, July 25th. The software maker reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.12. The firm had revenue of $858.00 million during the quarter, compared to the consensus estimate of $835.01 million. Cadence Design Systems had a return on equity of 32.06% and a net margin of 23.61%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, equities research analysts forecast that Cadence Design Systems, Inc. will post 3.31 EPS for the current year.

Institutional Investors Weigh In On Cadence Design Systems

Institutional investors have recently added to or reduced their stakes in the company. San Luis Wealth Advisors LLC acquired a new stake in Cadence Design Systems in the first quarter worth approximately $28,000. CVA Family Office LLC lifted its position in Cadence Design Systems by 433.3% in the first quarter. CVA Family Office LLC now owns 160 shares of the software maker’s stock worth $26,000 after purchasing an additional 130 shares during the period. Riverview Trust Co acquired a new stake in Cadence Design Systems in the first quarter worth approximately $27,000. MV Capital Management Inc. lifted its position in shares of Cadence Design Systems by 74.1% during the 1st quarter. MV Capital Management Inc. now owns 188 shares of the software maker’s stock valued at $31,000 after acquiring an additional 80 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its position in shares of Cadence Design Systems by 108.3% during the 1st quarter. Zions Bancorporation N.A. now owns 225 shares of the software maker’s stock valued at $37,000 after acquiring an additional 117 shares during the last quarter. 84.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Rosenblatt Securities upped their target price on Cadence Design Systems from $170.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, July 26th. UBS Group upped their target price on Cadence Design Systems from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, April 26th. Bank of America raised Cadence Design Systems from an “underperform” rating to a “neutral” rating and upped their target price for the company from $160.00 to $175.00 in a report on Wednesday, June 29th. Robert W. Baird lowered their target price on Cadence Design Systems from $211.00 to $203.00 in a report on Tuesday, April 26th. Finally, KeyCorp upped their target price 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 analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $189.30.

Cadence Design Systems Company Profile

(Get Rating)

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.

See Also

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

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