Insider Selling: Cadence Design Systems, Inc. (NASDAQ:CDNS) Insider Sells 40,000 Shares of Stock

Cadence Design Systems, Inc. (NASDAQ:CDNSGet Rating) insider Lip Bu Tan sold 40,000 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $162.66, for a total transaction of $6,506,400.00. Following the transaction, the insider now owns 996,936 shares of the company’s stock, valued at approximately $162,161,609.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Friday, October 21st, Lip Bu Tan sold 40,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $156.11, for a total transaction of $6,244,400.00.
  • On Monday, October 17th, Lip Bu Tan sold 50,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $154.66, for a total transaction of $7,733,000.00.
  • On Wednesday, September 21st, Lip Bu Tan sold 40,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $168.76, for a total transaction of $6,750,400.00.
  • On Thursday, September 15th, Lip Bu Tan sold 50,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $162.87, for a total transaction of $8,143,500.00.

Cadence Design Systems Trading Up 1.4 %

CDNS stock opened at $167.51 on Friday. The company has a market capitalization of $45.95 billion, a PE ratio of 58.98, a P/E/G ratio of 2.73 and a beta of 1.07. Cadence Design Systems, Inc. has a 12 month low of $132.32 and a 12 month high of $194.97. The firm’s 50-day moving average is $158.58 and its 200 day moving average is $161.28. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.33 and a quick ratio of 1.24.

Cadence Design Systems (NASDAQ:CDNSGet Rating) last posted its quarterly earnings results on Monday, October 24th. The software maker reported $1.06 EPS for the quarter, topping the consensus estimate of $0.96 by $0.10. The company had revenue of $902.55 million for the quarter, compared to the consensus estimate of $868.85 million. Cadence Design Systems had a net margin of 22.86% and a return on equity of 33.19%. The firm’s revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 EPS. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 3.41 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Toroso Investments LLC grew its holdings in Cadence Design Systems by 84.0% during the 3rd quarter. Toroso Investments LLC now owns 15,941 shares of the software maker’s stock worth $2,605,000 after acquiring an additional 7,277 shares in the last quarter. CVA Family Office LLC grew its holdings in Cadence Design Systems by 1,160.0% during the 3rd quarter. CVA Family Office LLC now owns 315 shares of the software maker’s stock worth $51,000 after acquiring an additional 290 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in Cadence Design Systems by 24.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 5,402 shares of the software maker’s stock worth $885,000 after acquiring an additional 1,069 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in Cadence Design Systems during the 3rd quarter worth about $12,927,000. Finally, Power Corp of Canada bought a new position in Cadence Design Systems during the 3rd quarter worth about $354,000. 84.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on CDNS. Rosenblatt Securities decreased their price target on shares of Cadence Design Systems from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, October 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Cadence Design Systems in a research note on Wednesday, September 28th. They issued a “buy” rating and a $200.00 target price on the stock. Stifel Nicolaus reissued a “hold” rating and issued a $200.00 target price on shares of Cadence Design Systems in a research note on Wednesday, October 26th. StockNews.com downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, November 16th. Finally, Wolfe Research assumed coverage on shares of Cadence Design Systems in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $210.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.75.

About Cadence Design Systems

(Get Rating)

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.

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

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