Paul Cunningham Sells 1,000 Shares of Cadence Design Systems (NASDAQ:CDNS) Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $295.09, for a total transaction of $295,090.00. Following the transaction, the vice president directly owned 95,137 shares of the company’s stock, valued at $28,073,977.33. The trade was a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Paul Cunningham also recently made the following trade(s):

• On Friday, January 2nd, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $315.70, for a total value of $315,700.00.
• On Monday, December 1st, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $312.64, for a total value of $312,640.00.

Cadence Design Systems Trading Down 0.5%

CDNS opened at $270.14 on Friday. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $315.46 and a 200-day simple moving average of $331.74. The firm has a market cap of $73.53 billion, a P/E ratio of 69.62, a P/E/G ratio of 3.03 and a beta of 1.01.

Analyst Ratings Changes

CDNS has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of Cadence Design Systems in a research note on Monday, November 24th. They set a “buy” rating and a $385.00 price target on the stock. Wolfe Research reiterated an “outperform” rating and set a $385.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Wells Fargo & Company raised their price target on shares of Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Finally, Oppenheimer upgraded Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 target price for the company in a report on Monday, December 1st. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $379.59.

Institutional Investors Weigh In On Cadence Design Systems

A number of hedge funds and other institutional investors have recently modified their holdings of CDNS. Y.D. More Investments Ltd purchased a new position in Cadence Design Systems in the third quarter valued at $26,000. Caitlin John LLC acquired a new position in shares of Cadence Design Systems during the 3rd quarter worth about $29,000. Lodestone Wealth Management LLC purchased a new position in shares of Cadence Design Systems in the 4th quarter valued at about $30,000. Imprint Wealth LLC purchased a new position in shares of Cadence Design Systems in the 3rd quarter valued at about $31,000. Finally, Strategic Wealth Investment Group LLC acquired a new stake in shares of Cadence Design Systems during the 2nd quarter worth about $32,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

About Cadence Design Systems

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.