John M. Wall Sells 750 Shares of Cadence Design Systems Inc (CDNS) Stock

Cadence Design Systems Inc (NASDAQ:CDNS) CFO John M. Wall sold 750 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $37.93, for a total transaction of $28,447.50. Following the transaction, the chief financial officer now directly owns 129,673 shares of the company’s stock, valued at approximately $4,918,496.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cadence Design Systems Inc (CDNS) traded up $0.92 during midday trading on Monday, reaching $38.60. 2,417,924 shares of the company were exchanged, compared to its average volume of 2,462,039. The company has a market capitalization of $10,639.32, a PE ratio of 50.92, a P/E/G ratio of 3.68 and a beta of 0.97. Cadence Design Systems Inc has a twelve month low of $29.50 and a twelve month high of $46.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.47 and a current ratio of 1.53.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Wednesday, January 31st. The software maker reported $0.39 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.39. The business had revenue of $501.70 million for the quarter, compared to analysts’ expectations of $496.20 million. Cadence Design Systems had a net margin of 10.50% and a return on equity of 31.28%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 earnings per share. equities analysts predict that Cadence Design Systems Inc will post 0.85 EPS for the current year.

CDNS has been the subject of a number of research analyst reports. DA Davidson upped their price objective on shares of Cadence Design Systems to $43.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. BidaskClub lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Friday, January 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, October 29th. Credit Suisse Group reaffirmed a “neutral” rating and set a $43.00 price objective (up previously from $37.00) on shares of Cadence Design Systems in a research report on Thursday, February 1st. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $46.00 price objective on shares of Cadence Design Systems in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Cadence Design Systems currently has a consensus rating of “Hold” and an average target price of $44.20.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cerebellum GP LLC bought a new stake in Cadence Design Systems in the fourth quarter valued at about $123,000. Advisor Group Inc. increased its stake in Cadence Design Systems by 151.4% in the third quarter. Advisor Group Inc. now owns 4,160 shares of the software maker’s stock valued at $165,000 after acquiring an additional 2,505 shares during the period. Dupont Capital Management Corp bought a new stake in Cadence Design Systems in the third quarter valued at about $170,000. Parkwood LLC bought a new stake in Cadence Design Systems during the third quarter worth about $201,000. Finally, Coldstream Capital Management Inc. bought a new stake in Cadence Design Systems during the third quarter worth about $207,000. 84.91% of the stock is currently owned by institutional investors and hedge funds.

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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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