Cadence Design Systems (NASDAQ:CDNS) CFO John M. Wall sold 750 shares of Cadence Design Systems stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $42.37, for a total value of $31,777.50. Following the completion of the sale, the chief financial officer now owns 120,024 shares of the company’s stock, valued at $5,085,416.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Cadence Design Systems traded up $0.26, hitting $41.78, during midday trading on Friday, according to MarketBeat.com. 876,737 shares of the stock traded hands, compared to its average volume of 2,664,446. The company has a market cap of $11.57 billion, a price-to-earnings ratio of 39.42, a P/E/G ratio of 3.59 and a beta of 1.13. Cadence Design Systems has a one year low of $40.89 and a one year high of $41.13. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.30.
Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 23rd. The software maker reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The firm had revenue of $517.00 million during the quarter, compared to the consensus estimate of $505.33 million. Cadence Design Systems had a return on equity of 29.43% and a net margin of 10.52%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. equities research analysts anticipate that Cadence Design Systems will post 0.95 earnings per share for the current year.
A number of equities research analysts have weighed in on CDNS shares. Zacks Investment Research downgraded Cadence Design Systems from a “hold” rating to a “strong sell” rating in a report on Monday, February 5th. BidaskClub downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Friday, January 19th. Needham & Company LLC upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Tuesday, April 24th. DA Davidson upgraded Cadence Design Systems from a “neutral” rating to a “buy” rating in a report on Thursday, April 5th. Finally, ValuEngine upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.71.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDNS. Cerebellum GP LLC bought a new stake in shares of Cadence Design Systems during the fourth quarter valued at approximately $123,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Cadence Design Systems during the first quarter valued at approximately $204,000. Intact Investment Management Inc. bought a new stake in shares of Cadence Design Systems during the first quarter valued at approximately $206,000. United Capital Financial Advisers LLC purchased a new position in shares of Cadence Design Systems during the first quarter valued at approximately $206,000. Finally, Thompson Siegel & Walmsley LLC boosted its position in shares of Cadence Design Systems by 114.8% during the first quarter. Thompson Siegel & Walmsley LLC now owns 5,800 shares of the software maker’s stock valued at $213,000 after buying an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors own 88.34% of the company’s stock.
About Cadence Design Systems
Cadence Design Systems, Inc provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis 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 simulation platform; Palladium Z1, a verification computing platform; and Protium S1 field-programmable gate array prototyping platform.
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