Cadence Design Systems Inc (NASDAQ:CDNS) insider Aneel Zaman sold 3,361 shares of Cadence Design Systems stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $70.18, for a total transaction of $235,874.98. Following the completion of the sale, the insider now directly owns 235,701 shares of the company’s stock, valued at $16,541,496.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Aneel Zaman also recently made the following trade(s):

  • On Wednesday, August 7th, Aneel Zaman sold 4,766 shares of Cadence Design Systems stock. The shares were sold at an average price of $68.25, for a total transaction of $325,279.50.
  • On Friday, August 2nd, Aneel Zaman sold 523 shares of Cadence Design Systems stock. The shares were sold at an average price of $72.78, for a total transaction of $38,063.94.
  • On Wednesday, May 29th, Aneel Zaman sold 5,136 shares of Cadence Design Systems stock. The shares were sold at an average price of $63.35, for a total transaction of $325,365.60.

Cadence Design Systems stock traded up $0.12 during midday trading on Thursday, hitting $69.81. 1,873,145 shares of the stock were exchanged, compared to its average volume of 2,076,876. Cadence Design Systems Inc has a 52-week low of $39.08 and a 52-week high of $77.08. The stock has a market capitalization of $19.50 billion, a price-to-earnings ratio of 56.76, a price-to-earnings-growth ratio of 4.69 and a beta of 1.15. The business’s 50-day moving average price is $72.60 and its 200-day moving average price is $65.65. The company has a quick ratio of 1.52, a current ratio of 1.60 and a debt-to-equity ratio of 0.24.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 22nd. The software maker reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Cadence Design Systems had a net margin of 18.83% and a return on equity of 31.86%. The business had revenue of $580.42 million for the quarter, compared to analysts’ expectations of $579.41 million. During the same period in the previous year, the company earned $0.45 earnings per share. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, sell-side analysts predict that Cadence Design Systems Inc will post 1.48 earnings per share for the current fiscal year.

CDNS has been the subject of several research analyst reports. DA Davidson lifted their price target on shares of Cadence Design Systems to $80.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Needham & Company LLC lifted their price target on shares of Cadence Design Systems to $76.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Wells Fargo & Co initiated coverage on shares of Cadence Design Systems in a research note on Tuesday, May 14th. They issued a “market perform” rating for the company. BidaskClub downgraded shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Finally, Credit Suisse Group boosted their target price on shares of Cadence Design Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $64.25.

A number of institutional investors have recently added to or reduced their stakes in CDNS. Geode Capital Management LLC grew its holdings in shares of Cadence Design Systems by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 4,535,500 shares of the software maker’s stock worth $196,926,000 after acquiring an additional 235,512 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Cadence Design Systems in the first quarter worth $266,000. Strs Ohio boosted its position in shares of Cadence Design Systems by 19.0% in the first quarter. Strs Ohio now owns 43,664 shares of the software maker’s stock worth $2,773,000 after buying an additional 6,964 shares during the period. Conning Inc. acquired a new stake in shares of Cadence Design Systems in the first quarter worth $301,000. Finally, BB&T Corp acquired a new stake in shares of Cadence Design Systems in the first quarter worth $5,239,000. Institutional investors and hedge funds own 86.63% of the company’s stock.

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 simulation platform; Palladium Z1, an enterprise emulation platform; and Protium S1 field-programmable gate array prototyping platform.

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