Roger S. Siboni Sells 18,000 Shares of Cadence Design Systems, Inc. (CDNS) Stock
Cadence Design Systems, Inc. (NASDAQ:CDNS) Director Roger S. Siboni sold 18,000 shares of Cadence Design Systems stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $43.14, for a total value of $776,520.00. Following the completion of the transaction, the director now owns 52,194 shares of the company’s stock, valued at $2,251,649.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
The company has a market capitalization of $12,364.54, a P/E ratio of 47.09 and a beta of 0.94.
Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Thursday, October 26th. The software maker reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Cadence Design Systems had a return on equity of 29.00% and a net margin of 13.45%. The company had revenue of $485.40 million during the quarter, compared to the consensus estimate of $481.10 million. During the same period in the previous year, the firm posted $0.30 earnings per share. Cadence Design Systems’s quarterly revenue was up 8.8% compared to the same quarter last year. analysts anticipate that Cadence Design Systems, Inc. will post 1.06 EPS for the current fiscal year.
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CDNS has been the subject of a number of research reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $46.00 price target on shares of Cadence Design Systems in a research note on Friday, October 27th. Zacks Investment Research upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Thursday, July 27th. Bank of America Corporation lifted their price target on Cadence Design Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. BidaskClub downgraded Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $40.60.
A number of hedge funds have recently modified their holdings of the business. Caxton Associates LP boosted its stake in Cadence Design Systems by 0.6% in the second quarter. Caxton Associates LP now owns 15,900 shares of the software maker’s stock valued at $532,000 after acquiring an additional 100 shares during the period. Wetherby Asset Management Inc. boosted its stake in 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 valued at $321,000 after acquiring an additional 109 shares during the period. Capstone Asset Management Co. boosted its stake in Cadence Design Systems by 1.0% in the second quarter. Capstone Asset Management Co. now owns 27,461 shares of the software maker’s stock valued at $920,000 after acquiring an additional 260 shares during the period. PNC Financial Services Group Inc. boosted its stake in Cadence Design Systems by 6.4% in the second quarter. PNC Financial Services Group Inc. now owns 10,130 shares of the software maker’s stock valued at $338,000 after acquiring an additional 612 shares during the period. Finally, World Asset Management Inc raised its holdings in shares of Cadence Design Systems by 3.2% during the second quarter. World Asset Management Inc now owns 20,369 shares of the software maker’s stock valued at $682,000 after buying an additional 628 shares during the last quarter. Institutional investors own 85.46% of the company’s stock.
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).
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