Cadence Design Systems Inc (NASDAQ:CDNS) CEO Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock in a transaction on Friday, December 15th. The shares were sold at an average price of $43.52, for a total transaction of $4,352,000.00. Following the transaction, the chief executive officer now owns 533,333 shares in the company, valued at approximately $23,210,652.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Lip Bu Tan also recently made the following trade(s):
- On Monday, October 16th, Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $41.97, for a total transaction of $4,197,000.00.
Shares of Cadence Design Systems Inc (CDNS) traded up $0.20 during mid-day trading on Friday, reaching $45.07. 1,205,068 shares of the company’s stock traded hands, compared to its average volume of 2,398,705. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.72 and a current ratio of 1.79. The stock has a market cap of $12,669.49, a PE ratio of 48.46, a P/E/G ratio of 3.68 and a beta of 0.94. Cadence Design Systems Inc has a 1-year low of $25.42 and a 1-year high of $45.64.
Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Thursday, October 26th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $485.40 million for the quarter, compared to analysts’ expectations of $481.10 million. Cadence Design Systems had a net margin of 13.45% and a return on equity of 29.00%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. research analysts forecast that Cadence Design Systems Inc will post 1.06 EPS for the current fiscal year.
A number of research analysts recently weighed in on the stock. KeyCorp restated a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, November 26th. BidaskClub upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Wednesday, November 1st. DA Davidson boosted their price target on shares of Cadence Design Systems to $43.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. They noted that the move was a valuation call. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, October 29th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $44.50.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Sigma Planning Corp raised its position in shares of Cadence Design Systems by 17.1% during the 3rd quarter. Sigma Planning Corp now owns 66,369 shares of the software maker’s stock valued at $2,620,000 after buying an additional 9,695 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Cadence Design Systems by 73,454.0% during the 2nd quarter. Janus Henderson Group PLC now owns 20,701,780 shares of the software maker’s stock valued at $693,303,000 after buying an additional 20,673,635 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Cadence Design Systems during the 2nd quarter valued at about $2,170,000. Crossmark Global Holdings Inc. bought a new position in Cadence Design Systems during the 3rd quarter valued at about $432,000. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in Cadence Design Systems by 15.4% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 41,301 shares of the software maker’s stock valued at $1,630,000 after purchasing an additional 5,500 shares during the last quarter. Hedge funds and other institutional investors own 84.63% of the company’s stock.
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Cadence Design Systems Company Profile
Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).
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