Cadence Design Systems, Inc. (NASDAQ:CDNS) CEO Lip Bu Tan Sells 49,999 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNS) CEO Lip Bu Tan sold 49,999 shares of the company’s stock in a transaction that occurred on Wednesday, September 15th. The shares were sold at an average price of $166.65, for a total value of $8,332,333.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Lip Bu Tan also recently made the following trade(s):

  • On Monday, August 16th, Lip Bu Tan sold 50,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $151.56, for a total value of $7,578,000.00.
  • On Thursday, July 15th, Lip Bu Tan sold 50,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $137.43, for a total value of $6,871,500.00.

CDNS traded down $3.98 during trading on Friday, hitting $163.63. The company had a trading volume of 2,759,064 shares, compared to its average volume of 1,524,230. The company has a market capitalization of $45.29 billion, a PE ratio of 67.30, a PEG ratio of 5.68 and a beta of 1.03. Cadence Design Systems, Inc. has a one year low of $97.45 and a one year high of $168.61. The firm’s 50-day moving average price is $152.80 and its 200 day moving average price is $139.39. The company has a quick ratio of 1.47, a current ratio of 1.57 and a debt-to-equity ratio of 0.14.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Sunday, July 25th. The software maker reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Cadence Design Systems had a net margin of 23.47% and a return on equity of 28.93%. The business had revenue of $728.29 million for the quarter, compared to analysts’ expectations of $715.77 million. During the same period in the previous year, the firm posted $0.66 EPS. Sell-side analysts forecast that Cadence Design Systems, Inc. will post 2.52 earnings per share for the current year.

A number of brokerages recently issued reports on CDNS. Rosenblatt Securities began coverage on Cadence Design Systems in a report on Friday. They issued a “buy” rating and a $173.00 price objective for the company. KeyCorp increased their price target on Cadence Design Systems from $162.00 to $166.00 and gave the company an “overweight” rating in a research note on Tuesday, July 27th. Westpark Capital began coverage on Cadence Design Systems in a research report on Thursday, July 15th. They set a “buy” rating and a $168.00 price objective for the company. Robert W. Baird reiterated an “outperform” rating and set a $144.97 price objective (down previously from $160.00) on shares of Cadence Design Systems in a research report on Tuesday, July 27th. Finally, Wells Fargo & Company set a $137.72 price objective on Cadence Design Systems and gave the company a “buy” rating in a research report on Wednesday, July 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Cadence Design Systems presently has a consensus rating of “Buy” and a consensus target price of $150.76.

A number of large investors have recently modified their holdings of CDNS. Amundi Pioneer Asset Management Inc. lifted its position in Cadence Design Systems by 31.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 293,032 shares of the software maker’s stock worth $18,610,000 after buying an additional 69,373 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Cadence Design Systems by 2.5% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 214,655 shares of the software maker’s stock valued at $29,406,000 after purchasing an additional 5,189 shares during the period. Scotia Capital Inc. raised its holdings in shares of Cadence Design Systems by 437.6% in the 1st quarter. Scotia Capital Inc. now owns 23,607 shares of the software maker’s stock valued at $3,234,000 after purchasing an additional 19,216 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Cadence Design Systems in the 1st quarter valued at about $3,012,000. Finally, Prospera Financial Services Inc raised its holdings in shares of Cadence Design Systems by 29.0% in the 1st quarter. Prospera Financial Services Inc now owns 25,519 shares of the software maker’s stock valued at $3,496,000 after purchasing an additional 5,732 shares during the period. 83.23% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP. The company was founded by Alberto Sangiovanni-Vincentelli, Gudmundur A.

Further Reading: Why are analyst ratings important in trading stocks?

Insider Buying and Selling by Quarter for Cadence Design Systems (NASDAQ:CDNS)

Receive News & Ratings for Cadence Design Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Design Systems and related companies with MarketBeat.com's FREE daily email newsletter.