Cadence Design Systems, Inc. (NASDAQ:CDNS) Insider Lip Bu Tan Sells 50,000 Shares of Stock

Cadence Design Systems, Inc. (NASDAQ:CDNSGet Rating) insider Lip Bu Tan sold 50,000 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $162.87, for a total value of $8,143,500.00. Following the sale, the insider now directly owns 602,589 shares in the company, valued at $98,143,670.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

  • On Friday, August 19th, Lip Bu Tan sold 40,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $187.99, for a total value of $7,519,600.00.
  • On Tuesday, August 16th, Lip Bu Tan sold 50,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $192.42, for a total value of $9,621,000.00.
  • On Thursday, July 21st, Lip Bu Tan sold 40,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $166.74, for a total value of $6,669,600.00.
  • On Friday, July 15th, Lip Bu Tan sold 50,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $155.06, for a total value of $7,753,000.00.
  • On Friday, June 24th, Lip Bu Tan sold 50,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $153.88, for a total value of $7,694,000.00.
  • On Tuesday, June 21st, Lip Bu Tan sold 40,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $148.70, for a total value of $5,948,000.00.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $167.19 on Tuesday. The firm has a market capitalization of $45.79 billion, a P/E ratio of 59.92, a PEG ratio of 2.80 and a beta of 1.17. Cadence Design Systems, Inc. has a 1 year low of $132.32 and a 1 year high of $194.97. The business has a 50-day moving average of $175.03 and a 200-day moving average of $160.15. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 0.13.

Cadence Design Systems (NASDAQ:CDNSGet Rating) last posted its earnings results on Monday, July 25th. The software maker reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.12. The company had revenue of $858.00 million during 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%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 EPS. On average, equities analysts anticipate that Cadence Design Systems, Inc. will post 3.31 EPS for the current year.

Hedge Funds Weigh In On Cadence Design Systems

Institutional investors have recently modified their holdings of the stock. CVA Family Office LLC grew its position in shares of Cadence Design Systems by 433.3% during the 1st quarter. CVA Family Office LLC now owns 160 shares of the software maker’s stock worth $26,000 after buying an additional 130 shares during the period. Riverview Trust Co acquired a new position in shares of Cadence Design Systems in the 1st quarter valued at approximately $27,000. San Luis Wealth Advisors LLC acquired a new position in shares of Cadence Design Systems in the 1st quarter valued at approximately $28,000. SeaCrest Wealth Management LLC acquired a new position in shares of Cadence Design Systems in the 2nd quarter valued at approximately $29,000. Finally, MV Capital Management Inc. grew its position in shares of Cadence Design Systems by 74.1% in the 1st quarter. MV Capital Management Inc. now owns 188 shares of the software maker’s stock valued at $31,000 after purchasing an additional 80 shares during the period. 84.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CDNS has been the topic of several recent analyst reports. Needham & Company LLC boosted their target price on Cadence Design Systems from $193.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 26th. Rosenblatt Securities boosted their target price on Cadence Design Systems from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, July 26th. Wolfe Research started coverage on Cadence Design Systems in a report on Tuesday, August 16th. They set an “outperform” rating and a $210.00 price objective on the stock. Bank of America raised Cadence Design Systems from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $160.00 to $175.00 in a report on Wednesday, June 29th. Finally, Stifel Nicolaus started coverage on Cadence Design Systems in a report on Wednesday, September 7th. They set a “hold” rating and a $200.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $191.92.

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.

Further Reading

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

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