Cadence Design Systems, Inc. (NASDAQ:CDNS) CEO Lip Bu Tan sold 100,000 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $37.18, for a total value of $3,718,000.00. Following the transaction, the chief executive officer now owns 583,332 shares of the company’s stock, valued at approximately $21,688,283.76. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

  • On Monday, July 17th, Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $34.68, for a total value of $3,468,000.00.
  • On Thursday, June 15th, Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $34.04, for a total value of $3,404,000.00.

Shares of Cadence Design Systems, Inc. (NASDAQ CDNS) traded down 1.92% during midday trading on Thursday, reaching $36.84. 1,486,835 shares of the company traded hands. Cadence Design Systems, Inc. has a 12-month low of $24.15 and a 12-month high of $37.70. The firm has a market capitalization of $10.32 billion, a PE ratio of 42.84 and a beta of 0.94. The company has a 50-day moving average of $35.44 and a 200 day moving average of $32.94.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 24th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. Cadence Design Systems had a net margin of 12.86% and a return on equity of 27.81%. The business had revenue of $479 million during the quarter, compared to the consensus estimate of $476.21 million. During the same period in the prior year, the firm posted $0.29 EPS. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities analysts forecast that Cadence Design Systems, Inc. will post $1.39 earnings per share for the current year.

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CDNS has been the subject of a number of research reports. Zacks Investment Research upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Thursday, April 27th. Royal Bank Of Canada raised their price objective on Cadence Design Systems from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, July 25th. DA Davidson cut Cadence Design Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, April 25th. BidaskClub cut Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Finally, Bank of America Corporation raised their price objective on Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $33.67.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. boosted its stake in shares of 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. Caxton Associates LP boosted its stake in shares of Cadence Design Systems by 0.6% in the second quarter. Caxton Associates LP now owns 15,900 shares of the software maker’s stock worth $532,000 after buying an additional 100 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Cadence Design Systems by 0.3% in the first quarter. Victory Capital Management Inc. now owns 39,348 shares of the software maker’s stock worth $1,236,000 after buying an additional 105 shares during the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of Cadence Design Systems by 1.2% in the second quarter. Wetherby Asset Management Inc. now owns 9,581 shares of the software maker’s stock worth $321,000 after buying an additional 109 shares during the last quarter. Finally, Advantus Capital Management Inc boosted its stake in shares of Cadence Design Systems by 0.3% in the first quarter. Advantus Capital Management Inc now owns 35,693 shares of the software maker’s stock worth $1,121,000 after buying an additional 112 shares during the last quarter. 86.08% 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).

Insider Buying and Selling by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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