Cadence Design Systems, Inc. (NASDAQ:CDNS) Insider Sells $7,369,075.00 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNSGet Rating) insider Lip Bu Tan sold 42,500 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $173.39, for a total transaction of $7,369,075.00. Following the sale, the insider now directly owns 602,589 shares in the company, valued at approximately $104,482,906.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

  • On Wednesday, December 21st, Lip Bu Tan sold 40,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $164.55, for a total transaction of $6,582,000.00.
  • On Monday, November 21st, Lip Bu Tan sold 40,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $162.66, for a total transaction of $6,506,400.00.
  • 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.

Cadence Design Systems Stock Up 3.7 %

Shares of Cadence Design Systems stock opened at $178.26 on Friday. The company has a market cap of $48.90 billion, a price-to-earnings ratio of 62.77, a price-to-earnings-growth ratio of 2.29 and a beta of 1.10. The company’s 50 day moving average is $165.39 and its 200 day moving average is $166.12. Cadence Design Systems, Inc. has a twelve month low of $132.32 and a twelve month high of $194.97. 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 (NASDAQ:CDNSGet Rating) last announced its earnings results on Monday, October 24th. The software maker reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. Cadence Design Systems had a net margin of 22.86% and a return on equity of 33.19%. 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 prior year, the company earned $0.65 earnings per share. The firm’s revenue was up 20.2% on a year-over-year basis. Research analysts anticipate that Cadence Design Systems, Inc. will post 3.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Robert W. Baird upped their target price on shares of Cadence Design Systems to $206.00 in a research note on Wednesday, December 14th. Stifel Nicolaus reiterated a “hold” rating and issued a $200.00 target price on shares of Cadence Design Systems in a research note on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Cadence Design Systems in a research note on Wednesday, September 28th. They issued a “buy” rating and a $200.00 target price on the stock. Atlantic Securities upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $200.00 target price on the stock in a research note on Tuesday. Finally, Bank of America upgraded shares of Cadence Design Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $185.00 to $205.00 in a research note on Friday, December 16th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $195.50.

Institutional Trading of Cadence Design Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC purchased a new stake in Cadence Design Systems during the second quarter valued at approximately $29,000. American National Bank purchased a new stake in Cadence Design Systems during the third quarter valued at approximately $33,000. Private Trust Co. NA purchased a new stake in Cadence Design Systems during the second quarter valued at approximately $35,000. GHP Investment Advisors Inc. increased its stake in shares of Cadence Design Systems by 252.9% in the second quarter. GHP Investment Advisors Inc. now owns 247 shares of the software maker’s stock worth $37,000 after purchasing an additional 177 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its stake in shares of Cadence Design Systems by 108.3% in the first quarter. Zions Bancorporation N.A. now owns 225 shares of the software maker’s stock worth $37,000 after purchasing an additional 117 shares in the last quarter. 84.06% of the stock is owned by hedge funds and other institutional investors.

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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