Cadence Design Systems, Inc. (CDNS) CEO Sells $3,404,000.00 in Stock
Cadence Design Systems, Inc. (NASDAQ:CDNS) CEO Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $34.04, for a total transaction of $3,404,000.00. Following the sale, the chief executive officer now directly owns 583,332 shares of the company’s stock, valued at approximately $19,856,621.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Lip Bu Tan also recently made the following trade(s):
- On Monday, April 17th, Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $31.26, for a total transaction of $3,126,000.00.
Cadence Design Systems, Inc. (CDNS) traded up 0.23% during mid-day trading on Monday, hitting $34.26. 1,295,457 shares of the stock traded hands. The stock has a market cap of $9.58 billion, a P/E ratio of 44.04 and a beta of 0.94. The stock has a 50-day moving average price of $33.85 and a 200-day moving average price of $30.12. Cadence Design Systems, Inc. has a 12 month low of $22.99 and a 12 month high of $35.69.
Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, April 24th. The software maker reported $0.32 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.32. The firm had revenue of $477 million during the quarter, compared to analysts’ expectations of $474.23 million. Cadence Design Systems had a net margin of 11.97% and a return on equity of 26.52%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $0.28 EPS. On average, equities analysts forecast that Cadence Design Systems, Inc. will post $1.38 earnings per share for the current year.
Several research firms have recently weighed in on CDNS. Zacks Investment Research downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. DA Davidson downgraded shares of Cadence Design Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 25th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $33.00 price target on shares of Cadence Design Systems in a research note on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $29.83.
Several institutional investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its position in Cadence Design Systems by 0.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 6,370 shares of the software maker’s stock worth $200,000 after buying an additional 31 shares during the last quarter. Seven Eight Capital LP bought a new position in Cadence Design Systems during the fourth quarter worth $164,000. Quantitative Systematic Strategies LLC bought a new position in Cadence Design Systems during the first quarter worth $205,000. Janney Capital Management LLC bought a new position in Cadence Design Systems during the first quarter worth $225,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Cadence Design Systems during the first quarter worth $240,000. 85.87% of the stock is owned by hedge funds and other institutional investors.
Cadence Design Systems Company Profile
Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).
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