Cadence Design Systems, Inc. (CDNS) CEO Sells $4,197,000.00 in Stock
Cadence Design Systems, Inc. (NASDAQ:CDNS) CEO Lip Bu Tan sold 100,000 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $41.97, for a total value of $4,197,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Lip Bu Tan also recently made the following trade(s):
- On Tuesday, August 15th, Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $37.18, for a total value of $3,718,000.00.
Cadence Design Systems, Inc. (CDNS) traded down 0.05% on Wednesday, hitting $41.79. The stock had a trading volume of 2,769,986 shares. The firm has a market cap of $11.71 billion, a PE ratio of 48.59 and a beta of 0.93. Cadence Design Systems, Inc. has a 12-month low of $24.15 and a 12-month high of $42.20. The company’s 50 day moving average is $39.11 and its 200 day moving average is $35.42.
Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 24th. The software maker reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The business had revenue of $479.00 million for the quarter, compared to analysts’ expectations of $476.21 million. Cadence Design Systems had a return on equity of 27.81% and a net margin of 12.86%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 earnings per share. On average, equities research analysts expect that Cadence Design Systems, Inc. will post $1.39 EPS for the current fiscal year.
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A number of research analysts have recently commented on the company. Royal Bank Of Canada increased their price objective on Cadence Design Systems from $39.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, October 11th. Credit Suisse Group reiterated an “outperform” rating on shares of Cadence Design Systems in a report on Thursday, August 31st. BidaskClub upgraded Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Zacks Investment Research downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Bank of America Corporation increased 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $35.60.
Institutional investors have recently made changes to their positions in the stock. Creative Planning increased its holdings in Cadence Design Systems by 242.2% in the second quarter. Creative Planning now owns 3,282 shares of the software maker’s stock valued at $110,000 after buying an additional 2,323 shares during the last quarter. Commonwealth Bank of Australia increased its holdings in Cadence Design Systems by 36.6% in the second quarter. Commonwealth Bank of Australia now owns 4,852 shares of the software maker’s stock valued at $161,000 after buying an additional 1,300 shares during the last quarter. Tocqueville Asset Management L.P. bought a new stake in Cadence Design Systems in the second quarter valued at about $206,000. Affinity Wealth Management bought a new stake in Cadence Design Systems in the second quarter valued at about $212,000. Finally, Atria Investments LLC bought a new stake in Cadence Design Systems in the second quarter valued at about $231,000. 84.24% 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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