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Cadence Design Systems (NASDAQ:CDNS) Director John B. Shoven sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $17.02, for a total value of $425,500.00. Following the transaction, the director now directly owns 155,000 shares of the company’s stock, valued at approximately $2,638,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Cadence Design Systems (NASDAQ:CDNS) traded up 0.90% during mid-day trading on Friday, hitting $16.88. 2,667,131 shares of the company’s stock traded hands. Cadence Design Systems has a 1-year low of $12.55 and a 1-year high of $17.24. The stock has a 50-day moving average of $16.12 and a 200-day moving average of $14.9. The company has a market cap of $4.887 billion and a price-to-earnings ratio of 41.62. Cadence Design Systems also saw a significant growth in short interest in May. As of May 30th, there was short interest totalling 37,624,394 shares, a growth of 3.8% from the May 15th total of 36,242,405 shares. Based on an average trading volume of 3,742,144 shares, the short-interest ratio is currently 10.1 days. Currently, 13.2% of the shares of the stock are short sold.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, April 21st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $378.55 million for the quarter, compared to the consensus estimate of $376.80 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts expect that Cadence Design Systems will post $0.97 EPS for the current fiscal year.

CDNS has been the subject of a number of recent research reports. Analysts at Summit Research upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. They now have a $19.00 price target on the stock, up previously from $16.00. Separately, analysts at DA Davidson reiterated a “buy” rating on shares of Cadence Design Systems in a research note on Wednesday, April 16th. They now have a $18.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Cadence Design Systems from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 1st. They now have a $17.50 price target on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $17.63.

Cadence Design Systems, Inc (NASDAQ:CDNS) develops electronic design automation (EDA), software, hardware, and silicon intellectual property (IP).

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