Cadence Design Systems, Inc. (NASDAQ:CDNS) SVP Sells $184,650.00 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) SVP Karna Nisewaner sold 600 shares of Cadence Design Systems stock in a transaction on Monday, July 1st. The shares were sold at an average price of $307.75, for a total value of $184,650.00. Following the completion of the transaction, the senior vice president now owns 19,280 shares of the company’s stock, valued at approximately $5,933,420. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Karna Nisewaner also recently made the following trade(s):

• On Monday, June 3rd, Karna Nisewaner sold 600 shares of Cadence Design Systems stock. The shares were sold at an average price of $287.31, for a total value of $172,386.00.
• On Wednesday, May 1st, Karna Nisewaner sold 600 shares of Cadence Design Systems stock. The shares were sold at an average price of $275.36, for a total value of $165,216.00.

Cadence Design Systems Stock Down 0.4 %

NASDAQ:CDNS opened at $315.47 on Friday. Cadence Design Systems, Inc. has a 1 year low of $217.77 and a 1 year high of $328.99. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.08. The stock has a market cap of $85.94 billion, a price-to-earnings ratio of 82.15, a PEG ratio of 3.88 and a beta of 1.03. The stock has a 50-day moving average price of $296.47 and a two-hundred day moving average price of $294.71.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.04. Cadence Design Systems had a return on equity of 32.44% and a net margin of 25.68%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the firm earned $1.02 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. As a group, equities analysts expect that Cadence Design Systems, Inc. will post 4.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. KeyCorp lifted their target price on Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Bank of America lifted their price objective on Cadence Design Systems from $330.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research note on Monday, April 22nd. Finally, Piper Sandler decreased their price objective on Cadence Design Systems from $334.00 to $318.00 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average price target of $334.89.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Moody National Bank Trust Division grew its stake in Cadence Design Systems by 1.3% in the second quarter. Moody National Bank Trust Division now owns 4,964 shares of the software maker’s stock valued at $1,528,000 after acquiring an additional 66 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Cadence Design Systems by 39.7% in the second quarter. GAMMA Investing LLC now owns 2,532 shares of the software maker’s stock valued at $779,000 after purchasing an additional 719 shares in the last quarter. Transcend Capital Advisors LLC bought a new stake in shares of Cadence Design Systems in the second quarter valued at about $300,000. Capital Market Strategies LLC lifted its holdings in shares of Cadence Design Systems by 3.1% in the second quarter. Capital Market Strategies LLC now owns 1,300 shares of the software maker’s stock valued at $400,000 after purchasing an additional 39 shares in the last quarter. Finally, Jackson Wealth Management LLC lifted its holdings in shares of Cadence Design Systems by 7.4% in the first quarter. Jackson Wealth Management LLC now owns 14,642 shares of the software maker’s stock valued at $4,558,000 after purchasing an additional 1,014 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

About Cadence Design Systems

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.