Insider Selling: Cadence Design Systems Inc (CDNS) CEO Sells $1,117,250.00 in Stock

Cadence Design Systems Inc (NASDAQ:CDNS) CEO Lip Bu Tan sold 25,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $44.69, for a total transaction of $1,117,250.00. Following the completion of the transaction, the chief executive officer now directly owns 458,333 shares of the company’s stock, valued at approximately $20,482,901.77. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

  • On Friday, December 15th, Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $43.52, for a total transaction of $4,352,000.00.

Cadence Design Systems Inc (NASDAQ:CDNS) opened at $45.60 on Friday. Cadence Design Systems Inc has a 1-year low of $25.62 and a 1-year high of $45.74. The company has a market cap of $12,875.62, a PE ratio of 49.03, a price-to-earnings-growth ratio of 3.74 and a beta of 0.94. The company has a current ratio of 1.79, a quick ratio of 1.72 and a debt-to-equity ratio of 0.64.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Thursday, October 26th. The software maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Cadence Design Systems had a net margin of 13.45% and a return on equity of 29.00%. The business had revenue of $485.40 million during the quarter, compared to the consensus estimate of $481.10 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The business’s revenue was up 8.8% on a year-over-year basis. equities research analysts forecast that Cadence Design Systems Inc will post 1.06 earnings per share for the current fiscal year.

CDNS has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $46.00 target price on shares of Cadence Design Systems in a report on Friday, October 27th. Zacks Investment Research raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Wednesday, November 1st. BidaskClub raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Needham & Company LLC reissued a “hold” rating on shares of Cadence Design Systems in a report on Sunday, October 29th. Finally, KeyCorp reissued a “hold” rating on shares of Cadence Design Systems in a report on Sunday, November 26th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $44.50.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. raised its position in shares of Cadence Design Systems by 151.4% during the 3rd quarter. Advisor Group Inc. now owns 4,160 shares of the software maker’s stock valued at $165,000 after buying an additional 2,505 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Cadence Design Systems during the 3rd quarter valued at about $170,000. Parkwood LLC purchased a new stake in shares of Cadence Design Systems during the 3rd quarter valued at about $201,000. Coldstream Capital Management Inc. purchased a new stake in shares of Cadence Design Systems during the 3rd quarter valued at about $207,000. Finally, Financial Partners Capital Management LLC purchased a new stake in shares of Cadence Design Systems during the 3rd quarter valued at about $214,000. 84.77% of the stock is owned by institutional investors and hedge funds.

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About Cadence Design Systems

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).

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

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