Cadence Design Systems, Inc. (NASDAQ:CDNS) VP James J. Cowie sold 5,036 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $37.21, for a total transaction of $187,389.56. Following the completion of the transaction, the vice president now owns 82,082 shares in the company, valued at approximately $3,054,271.22. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Cadence Design Systems, Inc. (NASDAQ:CDNS) opened at 37.91 on Wednesday. The company has a market cap of $10.62 billion, a PE ratio of 44.08 and a beta of 0.94. Cadence Design Systems, Inc. has a 1-year low of $24.15 and a 1-year high of $37.95. The firm’s 50-day moving average is $36.11 and its 200 day moving average is $33.39.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 24th. The software maker reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Cadence Design Systems had a return on equity of 27.81% and a net margin of 12.86%. The company had revenue of $479 million during the quarter, compared to analysts’ expectations of $476.21 million. During the same period last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts predict that Cadence Design Systems, Inc. will post $1.39 earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of CDNS. Mn Services Vermogensbeheer B.V. boosted its stake in Cadence Design Systems by 490.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 45,258 shares of the software maker’s stock worth $1,516,000 after buying an additional 37,591 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in Cadence Design Systems by 53.2% in the first quarter. Glen Harbor Capital Management LLC now owns 18,810 shares of the software maker’s stock worth $591,000 after buying an additional 6,534 shares during the last quarter. Koch Industries Inc. bought a new stake in Cadence Design Systems during the first quarter worth $308,000. First Trust Advisors LP boosted its stake in Cadence Design Systems by 89.7% in the second quarter. First Trust Advisors LP now owns 460,774 shares of the software maker’s stock worth $15,431,000 after buying an additional 217,889 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its stake in Cadence Design Systems by 2.3% in the first quarter. Capstone Asset Management Co. now owns 27,201 shares of the software maker’s stock worth $854,000 after buying an additional 600 shares during the last quarter. 84.26% of the stock is owned by institutional investors.

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada reiterated a “buy” rating on shares of Cadence Design Systems in a research note on Friday, July 7th. BidaskClub cut shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Thursday, July 27th. Finally, Bank of America Corporation upped their price target on shares of Cadence Design Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $33.67.

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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