Cadence Design Systems Inc (CDNS) CFO John M. Wall Sells 750 Shares

Cadence Design Systems Inc (NASDAQ:CDNS) CFO John M. Wall sold 750 shares of the business’s stock in a transaction dated Monday, April 9th. The stock was sold at an average price of $36.16, for a total value of $27,120.00. Following the transaction, the chief financial officer now directly owns 124,458 shares of the company’s stock, valued at approximately $4,500,401.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Cadence Design Systems stock opened at $36.85 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.53 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $10,482.55, a price-to-earnings ratio of 34.62, a PEG ratio of 3.61 and a beta of 1.14. Cadence Design Systems Inc has a 12 month low of $31.04 and a 12 month high of $46.00.

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Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Wednesday, January 31st. The software maker reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. Cadence Design Systems had a return on equity of 31.28% and a net margin of 10.50%. The firm had revenue of $501.70 million during the quarter, compared to analysts’ expectations of $496.20 million. During the same quarter in the prior year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. analysts expect that Cadence Design Systems Inc will post 0.85 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Pitcairn Co. grew its stake in shares of Cadence Design Systems by 3.1% in the 4th quarter. Pitcairn Co. now owns 47,627 shares of the software maker’s stock valued at $1,991,000 after purchasing an additional 1,445 shares during the period. First Republic Investment Management Inc. grew its stake in shares of Cadence Design Systems by 7.1% in the 3rd quarter. First Republic Investment Management Inc. now owns 22,584 shares of the software maker’s stock valued at $892,000 after purchasing an additional 1,491 shares during the period. Standard Life Aberdeen plc grew its stake in shares of Cadence Design Systems by 3.3% in the 4th quarter. Standard Life Aberdeen plc now owns 51,273 shares of the software maker’s stock valued at $2,144,000 after purchasing an additional 1,656 shares during the period. Public Employees Retirement Association of Colorado grew its stake in shares of Cadence Design Systems by 3.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 57,400 shares of the software maker’s stock valued at $2,400,000 after purchasing an additional 1,766 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Cadence Design Systems by 5.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 36,934 shares of the software maker’s stock valued at $1,458,000 after purchasing an additional 1,811 shares during the period. Institutional investors own 86.62% of the company’s stock.

Several equities analysts recently weighed in on CDNS shares. Zacks Investment Research cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. BidaskClub cut Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $43.00 price target (up previously from $37.00) on shares of Cadence Design Systems in a report on Thursday, February 1st. ValuEngine raised Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, DA Davidson raised Cadence Design Systems from a “neutral” rating to a “buy” rating in a report on Thursday, April 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Cadence Design Systems has an average rating of “Hold” and a consensus target price of $44.20.

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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).

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

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