Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Sells $177,736.00 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $273.44, for a total value of $177,736.00. Following the sale, the vice president now directly owns 61,761 shares in the company, valued at $16,887,927.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Paul Cunningham also recently made the following trade(s):

• On Tuesday, September 3rd, Paul Cunningham sold 650 shares of Cadence Design Systems stock. The shares were sold at an average price of $266.89, for a total transaction of $173,478.50.
• On Thursday, August 1st, Paul Cunningham sold 650 shares of Cadence Design Systems stock. The stock was sold at an average price of $266.24, for a total transaction of $173,056.00.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $268.65 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32. The business has a 50 day simple moving average of $267.08 and a 200-day simple moving average of $287.73. Cadence Design Systems, Inc. has a 12 month low of $228.66 and a 12 month high of $328.99. The stock has a market capitalization of $73.19 billion, a PE ratio of 69.96, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. Cadence Design Systems’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 EPS. Equities analysts predict that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current year.

Institutional Investors Weigh In On Cadence Design Systems

A number of hedge funds have recently added to or reduced their stakes in the company. RiverPark Advisors LLC purchased a new position in shares of Cadence Design Systems during the 1st quarter worth approximately $26,000. ORG Partners LLC grew its holdings in Cadence Design Systems by 911.1% during the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock worth $28,000 after acquiring an additional 82 shares during the period. Annapolis Financial Services LLC purchased a new position in Cadence Design Systems in the first quarter worth $32,000. Hollencrest Capital Management lifted its holdings in Cadence Design Systems by 637.5% in the first quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock valued at $37,000 after acquiring an additional 102 shares during the period. Finally, Rise Advisors LLC purchased a new stake in shares of Cadence Design Systems during the 1st quarter worth $45,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the subject of several research analyst reports. Piper Sandler upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective for the company in a research note on Tuesday, August 6th. KeyCorp upped their target price on Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a research report on Tuesday, August 6th. Robert W. Baird decreased their price objective on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. Finally, Oppenheimer assumed coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $323.60.

About Cadence Design Systems

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.