Cadence Design Systems, Inc. (NASDAQ:CDNS) Insider Sells $6,192,000.00 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNSGet Rating) insider Lip Bu Tan sold 40,000 shares of the stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $154.80, for a total value of $6,192,000.00. Following the sale, the insider now directly owns 652,176 shares in the company, valued at approximately $100,956,844.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

  • On Tuesday, April 19th, Lip Bu Tan sold 45,064 shares of Cadence Design Systems stock. The shares were sold at an average price of $153.22, for a total value of $6,904,706.08.
  • On Thursday, March 17th, Lip Bu Tan sold 50,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $151.76, for a total value of $7,588,000.00.
  • On Friday, February 25th, Lip Bu Tan sold 49,600 shares of Cadence Design Systems stock. The stock was sold at an average price of $150.92, for a total value of $7,485,632.00.
  • On Wednesday, February 23rd, Lip Bu Tan sold 400 shares of Cadence Design Systems stock. The shares were sold at an average price of $150.61, for a total value of $60,244.00.

Shares of NASDAQ CDNS traded up $3.03 during mid-day trading on Monday, hitting $151.10. The company had a trading volume of 2,348,991 shares, compared to its average volume of 1,780,590. Cadence Design Systems, Inc. has a one year low of $118.11 and a one year high of $192.70. The company has a market capitalization of $41.86 billion, a PE ratio of 59.83, a price-to-earnings-growth ratio of 3.39 and a beta of 1.13. The firm has a 50-day simple moving average of $152.96 and a two-hundred day simple moving average of $163.70. The company has a current ratio of 1.77, a quick ratio of 1.65 and a debt-to-equity ratio of 0.13.

Cadence Design Systems (NASDAQ:CDNSGet Rating) last issued its quarterly earnings data on Tuesday, February 22nd. The software maker reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.07. The firm had revenue of $773.04 million during the quarter, compared to the consensus estimate of $757.36 million. Cadence Design Systems had a net margin of 23.29% and a return on equity of 28.70%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.62 earnings per share. Sell-side analysts expect that Cadence Design Systems, Inc. will post 2.92 earnings per share for the current fiscal year.

Several brokerages have weighed in on CDNS. Rosenblatt Securities lifted their target price on Cadence Design Systems from $173.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, February 23rd. JPMorgan Chase & Co. decreased their target price on Cadence Design Systems from $185.00 to $175.00 and set a “neutral” rating on the stock in a report on Wednesday, February 23rd. StockNews.com started coverage on Cadence Design Systems in a report on Thursday, March 31st. They set a “buy” rating on the stock. KeyCorp lifted their price target on Cadence Design Systems from $186.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, January 10th. Finally, Berenberg Bank upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Wednesday, February 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cadence Design Systems currently has an average rating of “Buy” and an average target price of $182.62.

A number of hedge funds have recently added to or reduced their stakes in CDNS. Raymond James Financial Services Advisors Inc. grew its position in Cadence Design Systems by 0.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 20,738 shares of the software maker’s stock worth $3,141,000 after purchasing an additional 59 shares in the last quarter. Boston Private Wealth LLC increased its holdings in shares of Cadence Design Systems by 1.7% in the 3rd quarter. Boston Private Wealth LLC now owns 3,566 shares of the software maker’s stock worth $539,000 after buying an additional 61 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in shares of Cadence Design Systems by 0.6% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 11,211 shares of the software maker’s stock worth $1,698,000 after buying an additional 66 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co grew its holdings in shares of Cadence Design Systems by 5.0% during the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,480 shares of the software maker’s stock valued at $276,000 after purchasing an additional 70 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in shares of Cadence Design Systems by 19.8% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 430 shares of the software maker’s stock valued at $65,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 83.85% of the company’s stock.

About Cadence Design Systems (Get Rating)

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.

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