Aneel Zaman Sells 23,592 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock

Cadence Design Systems, Inc. (NASDAQ:CDNSGet Free Report) VP Aneel Zaman sold 23,592 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $302.52, for a total value of $7,137,051.84. Following the completion of the transaction, the vice president now directly owns 24,499 shares of the company’s stock, valued at $7,411,437.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Tuesday, February 27th, Aneel Zaman sold 1,207 shares of Cadence Design Systems stock. The shares were sold at an average price of $303.90, for a total value of $366,807.30.
  • On Friday, February 2nd, Aneel Zaman sold 78 shares of Cadence Design Systems stock. The shares were sold at an average price of $290.75, for a total value of $22,678.50.

Cadence Design Systems Trading Up 1.6 %

NASDAQ:CDNS opened at $316.86 on Thursday. The stock has a fifty day moving average price of $297.71 and a two-hundred day moving average price of $269.17. The stock has a market capitalization of $86.26 billion, a price-to-earnings ratio of 82.95, a PEG ratio of 3.67 and a beta of 1.04. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.13 and a current ratio of 1.24. Cadence Design Systems, Inc. has a 1 year low of $194.01 and a 1 year high of $320.78.

Cadence Design Systems (NASDAQ:CDNSGet Free Report) last posted its earnings results on Monday, February 12th. The software maker reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.05. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. Cadence Design Systems had a return on equity of 35.57% and a net margin of 25.46%. Cadence Design Systems’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. As a group, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 4.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CDNS has been the subject of a number of research reports. Rosenblatt Securities cut Cadence Design Systems from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $265.00 to $280.00 in a research note on Tuesday, February 13th. StockNews.com upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, March 12th. Wells Fargo & Company boosted their price objective on Cadence Design Systems from $310.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Morgan Stanley upgraded Cadence Design Systems from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $260.00 to $350.00 in a research note on Wednesday, February 14th. Finally, Stifel Nicolaus upped their price target on Cadence Design Systems from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $311.33.

Get Our Latest Analysis on Cadence Design Systems

Institutional Trading of Cadence Design Systems

Several large investors have recently bought and sold shares of CDNS. OFI Invest Asset Management acquired a new stake in Cadence Design Systems in the third quarter valued at $26,000. Valley National Advisers Inc. boosted its stake in shares of Cadence Design Systems by 90.4% during the fourth quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock valued at $26,000 after acquiring an additional 47 shares during the last quarter. VisionPoint Advisory Group LLC acquired a new stake in shares of Cadence Design Systems during the second quarter valued at $27,000. Harbour Investments Inc. boosted its stake in shares of Cadence Design Systems by 66.1% during the fourth quarter. Harbour Investments Inc. now owns 98 shares of the software maker’s stock valued at $27,000 after acquiring an additional 39 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of Cadence Design Systems during the fourth quarter valued at $28,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Cadence Design Systems Company Profile

(Get Free Report)

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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