Lip Bu Tan Sells 40,000 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock

Cadence Design Systems, Inc. (NASDAQ:CDNSGet Rating) insider Lip Bu Tan sold 40,000 shares of the stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $162.66, for a total transaction of $6,506,400.00. Following the completion of the sale, the insider now directly owns 996,936 shares of the company’s stock, valued at $162,161,609.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

  • On Friday, October 21st, Lip Bu Tan sold 40,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $156.11, for a total transaction of $6,244,400.00.
  • On Monday, October 17th, Lip Bu Tan sold 50,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $154.66, for a total transaction of $7,733,000.00.
  • On Wednesday, September 21st, Lip Bu Tan sold 40,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $168.76, for a total transaction of $6,750,400.00.
  • On Thursday, September 15th, Lip Bu Tan sold 50,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $162.87, for a total transaction of $8,143,500.00.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $167.51 on Thursday. The stock has a 50-day simple moving average of $158.57 and a 200 day simple moving average of $161.23. The company has a quick ratio of 1.24, a current ratio of 1.33 and a debt-to-equity ratio of 0.24. Cadence Design Systems, Inc. has a 12-month low of $132.32 and a 12-month high of $194.97. The stock has a market capitalization of $45.95 billion, a price-to-earnings ratio of 58.98, a P/E/G ratio of 2.68 and a beta of 1.07.

Cadence Design Systems (NASDAQ:CDNSGet Rating) last released its quarterly earnings results on Monday, October 24th. The software maker reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.10. Cadence Design Systems had a return on equity of 33.19% and a net margin of 22.86%. The business had revenue of $902.55 million during the quarter, compared to analysts’ expectations of $868.85 million. During the same period in the previous year, the business posted $0.65 earnings per share. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 3.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CDNS. Deutsche Bank Aktiengesellschaft began coverage on Cadence Design Systems in a report on Wednesday, September 28th. They issued a “buy” rating and a $200.00 price objective on the stock. Stifel Nicolaus restated a “hold” rating and issued a $200.00 price objective on shares of Cadence Design Systems in a report on Wednesday, October 26th. StockNews.com downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 16th. Wolfe Research began coverage on Cadence Design Systems in a report on Tuesday, August 16th. They issued an “outperform” rating and a $210.00 price objective on the stock. Finally, Robert W. Baird dropped their price objective on Cadence Design Systems from $204.00 to $198.00 in a report on Tuesday, October 25th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $192.75.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Cadence Design Systems by 6.0% in the first quarter. BlackRock Inc. now owns 33,427,221 shares of the software maker’s stock valued at $5,497,441,000 after buying an additional 1,906,590 shares during the last quarter. Vanguard Group Inc. increased its position in Cadence Design Systems by 1.3% in the first quarter. Vanguard Group Inc. now owns 31,767,905 shares of the software maker’s stock worth $5,224,549,000 after purchasing an additional 394,861 shares during the period. Massachusetts Financial Services Co. MA increased its position in Cadence Design Systems by 1.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 19,652,441 shares of the software maker’s stock worth $3,232,042,000 after purchasing an additional 291,152 shares during the period. State Street Corp increased its position in Cadence Design Systems by 0.4% in the third quarter. State Street Corp now owns 11,221,528 shares of the software maker’s stock worth $1,833,934,000 after purchasing an additional 45,444 shares during the period. Finally, FMR LLC increased its position in Cadence Design Systems by 4.7% in the second quarter. FMR LLC now owns 10,344,233 shares of the software maker’s stock worth $1,551,944,000 after purchasing an additional 462,306 shares during the period. 84.02% of the stock is owned by institutional investors.

About Cadence Design Systems

(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.

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