Insider Selling: Cadence Design Systems Inc (CDNS) CEO Sells 25,000 Shares of Stock

Cadence Design Systems Inc (NASDAQ:CDNS) CEO Lip Bu Tan sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $44.69, for a total transaction of $1,117,250.00. Following the completion of the transaction, the chief executive officer now owns 458,333 shares in the company, valued at $20,482,901.77. The sale was disclosed in a filing with the SEC, which is available through this link.

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

  • On Friday, December 15th, Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $43.52, for a total transaction of $4,352,000.00.

Cadence Design Systems Inc (NASDAQ:CDNS) traded up $0.08 during midday trading on Thursday, hitting $44.94. 1,629,733 shares of the stock were exchanged, compared to its average volume of 1,911,192. The company has a current ratio of 1.79, a quick ratio of 1.72 and a debt-to-equity ratio of 0.64. Cadence Design Systems Inc has a 1 year low of $25.62 and a 1 year high of $45.64. The company has a market capitalization of $12,502.90, a P/E ratio of 48.32, a PEG ratio of 3.63 and a beta of 0.94.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Thursday, October 26th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Cadence Design Systems had a net margin of 13.45% and a return on equity of 29.00%. The firm had revenue of $485.40 million for the quarter, compared to the consensus estimate of $481.10 million. During the same period last year, the firm earned $0.30 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. equities research analysts expect that Cadence Design Systems Inc will post 1.06 earnings per share for the current year.

A number of equities analysts have commented on CDNS shares. BidaskClub downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Zacks Investment Research downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. KeyCorp restated a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, November 26th. Needham & Company LLC restated a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, October 29th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $46.00 target price on shares of Cadence Design Systems in a research note on Friday, October 27th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $44.50.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDNS. Advisor Group Inc. boosted its stake in shares of Cadence Design Systems by 151.4% during the third quarter. Advisor Group Inc. now owns 4,160 shares of the software maker’s stock valued at $165,000 after purchasing an additional 2,505 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in Cadence Design Systems in the third quarter valued at approximately $170,000. Parkwood LLC acquired a new stake in Cadence Design Systems in the third quarter valued at approximately $201,000. Coldstream Capital Management Inc. acquired a new stake in Cadence Design Systems in the third quarter valued at approximately $207,000. Finally, Financial Partners Capital Management LLC acquired a new stake in Cadence Design Systems in the third quarter valued at approximately $214,000. Hedge funds and other institutional investors own 84.77% of the company’s stock.

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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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