Cadence Design Systems, Inc. (NASDAQ:CDNS) CFO John M. Wall sold 750 shares of the company’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $40.68, for a total transaction of $30,510.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) traded up 0.93% during trading on Wednesday, reaching $41.39. 2,786,023 shares of the company’s stock were exchanged. Cadence Design Systems, Inc. has a 12-month low of $24.15 and a 12-month high of $41.47. The company has a 50 day moving average of $38.69 and a 200 day moving average of $35.20. The stock has a market cap of $11.60 billion, a P/E ratio of 48.13 and a beta of 0.93.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 24th. The software maker reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $479.00 million for the quarter, compared to the consensus estimate of $476.21 million. Cadence Design Systems had a net margin of 12.86% and a return on equity of 27.81%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. Equities research analysts anticipate that Cadence Design Systems, Inc. will post $1.39 EPS for the current year.

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A number of equities analysts have commented on the stock. Royal Bank Of Canada upped their target price on shares of Cadence Design Systems from $39.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday. BidaskClub upgraded shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Zacks Investment Research downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Credit Suisse Group restated an “outperform” rating on shares of Cadence Design Systems in a research note on Thursday, August 31st. Finally, Bank of America Corporation upped their target price on shares of Cadence Design Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $35.60.

Institutional investors have recently added to or reduced their stakes in the company. Creative Planning raised its stake in shares of Cadence Design Systems by 242.2% in the 2nd quarter. Creative Planning now owns 3,282 shares of the software maker’s stock valued at $110,000 after acquiring an additional 2,323 shares during the period. Commonwealth Bank of Australia raised its stake in shares of Cadence Design Systems by 36.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 4,852 shares of the software maker’s stock valued at $161,000 after acquiring an additional 1,300 shares during the period. Tocqueville Asset Management L.P. purchased a new stake in shares of Cadence Design Systems in the 2nd quarter valued at approximately $206,000. Affinity Wealth Management purchased a new stake in shares of Cadence Design Systems in the 2nd quarter valued at approximately $212,000. Finally, Atria Investments LLC purchased a new stake in shares of Cadence Design Systems in the 2nd quarter valued at approximately $231,000. 84.27% of the stock is currently owned by institutional investors and hedge funds.

About Cadence Design Systems

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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