Cadence Design Systems, Inc. (CDNS) CFO Sells $32,872.50 in Stock
Cadence Design Systems, Inc. (NASDAQ:CDNS) CFO John M. Wall sold 750 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $43.83, for a total transaction of $32,872.50. Following the completion of the sale, the chief financial officer now owns 110,823 shares in the company, valued at $4,857,372.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Cadence Design Systems, Inc. (NASDAQ CDNS) traded up $0.63 on Tuesday, reaching $44.67. The company had a trading volume of 1,644,500 shares, compared to its average volume of 2,338,925. The stock has a market cap of $12,435.13, a PE ratio of 47.35, a P/E/G ratio of 3.47 and a beta of 0.94. Cadence Design Systems, Inc. has a 1 year low of $24.15 and a 1 year high of $44.69. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.79 and a quick ratio of 1.72.
Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Thursday, October 26th. The software maker reported $0.35 earnings per share for the quarter, topping 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 firm had revenue of $485.40 million for the quarter, compared to analysts’ expectations of $481.10 million. During the same quarter last year, the business posted $0.30 EPS. Cadence Design Systems’s revenue was up 8.8% on a year-over-year basis. equities analysts anticipate that Cadence Design Systems, Inc. will post 1.06 EPS for the current year.
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Large investors have recently added to or reduced their stakes in the business. Creative Planning grew its stake in Cadence Design Systems by 242.2% during the 2nd quarter. Creative Planning now owns 3,282 shares of the software maker’s stock valued at $110,000 after acquiring an additional 2,323 shares in the last quarter. Advisor Group Inc. grew its stake in Cadence Design Systems by 151.4% during the 3rd 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 in the last quarter. Dupont Capital Management Corp purchased a new position in Cadence Design Systems during the 3rd quarter valued at about $170,000. Commonwealth Bank of Australia grew its stake in Cadence Design Systems by 36.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 4,852 shares of the software maker’s stock valued at $161,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Parkwood LLC purchased a new position in Cadence Design Systems during the 3rd quarter valued at about $201,000. 84.15% of the stock is currently owned by institutional investors.
Several brokerages have commented on CDNS. Zacks Investment Research upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Wednesday, November 1st. DA Davidson boosted their price target on shares of Cadence Design Systems to $43.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Needham & Company LLC reiterated a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, October 29th. Royal Bank Of Canada reissued a “buy” rating and issued a $46.00 price target on shares of Cadence Design Systems in a research note on Friday, October 27th. Finally, Credit Suisse Group AG reissued an “outperform” rating on shares of Cadence Design Systems in a research note on Thursday, August 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cadence Design Systems presently has a consensus rating of “Buy” and an average target price of $40.60.
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).
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