Insider Selling: Cadence Design Systems, Inc. (NASDAQ:CDNS) Director Sells $413,970.00 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $275.98, for a total transaction of $413,970.00. Following the sale, the director now owns 43,551 shares of the company’s stock, valued at approximately $12,019,204.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Vincentelli Albert Sangiovanni also recently made the following trade(s):

• On Thursday, August 15th, Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock. The stock was sold at an average price of $276.24, for a total transaction of $414,360.00.
• On Monday, July 15th, Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock. The shares were sold at an average price of $314.57, for a total transaction of $471,855.00.

Cadence Design Systems Trading Down 2.4 %

NASDAQ:CDNS opened at $273.76 on Friday. The company has a market cap of $74.58 billion, a P/E ratio of 71.29, a price-to-earnings-growth ratio of 3.19 and a beta of 1.02. Cadence Design Systems, Inc. has a twelve month low of $227.05 and a twelve month high of $328.99. The business has a 50 day moving average price of $269.55 and a two-hundred day moving average price of $290.36. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.23.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. As a group, analysts expect that Cadence Design Systems, Inc. will post 4.73 EPS for the current fiscal year.

Institutional Trading of Cadence Design Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ulland Investment Advisors LLC acquired a new position in Cadence Design Systems during the first quarter valued at approximately $25,000. RiverPark Advisors LLC acquired a new stake in shares of Cadence Design Systems in the 1st quarter valued at approximately $26,000. ORG Partners LLC grew its stake in shares of Cadence Design Systems by 911.1% in the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after buying an additional 82 shares in the last quarter. Annapolis Financial Services LLC acquired a new position in Cadence Design Systems during the first quarter worth $32,000. Finally, Union Savings Bank acquired a new position in Cadence Design Systems during the fourth quarter worth $33,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CDNS shares. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price target on shares of Cadence Design Systems in a report on Tuesday, July 23rd. Robert W. Baird lowered their price target on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective on the stock in a report on Tuesday, August 6th. Rosenblatt Securities reissued a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a research note on Tuesday, August 6th. Finally, KeyCorp raised their target price on shares of Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $334.56.

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.