John M. Wall Sells 750 Shares of Cadence Design Systems, Inc. (CDNS) Stock
Cadence Design Systems, Inc. (NASDAQ:CDNS) CFO John M. Wall sold 750 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $43.83, for a total transaction of $32,872.50. Following the transaction, the chief financial officer now directly owns 110,823 shares in the company, valued at $4,857,372.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Cadence Design Systems, Inc. (NASDAQ CDNS) traded down $0.45 during trading on Thursday, reaching $44.32. 1,728,500 shares of the company were exchanged, compared to its average volume of 2,337,682. The company has a quick ratio of 1.72, a current ratio of 1.79 and a debt-to-equity ratio of 0.64. The company has a market cap of $12,660.00, a price-to-earnings ratio of 48.14, a PEG ratio of 3.53 and a beta of 0.94. Cadence Design Systems, Inc. has a twelve month low of $24.15 and a twelve month high of $44.83.
Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Thursday, October 26th. The software maker reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Cadence Design Systems had a net margin of 13.45% and a return on equity of 29.00%. The company had revenue of $485.40 million for the quarter, compared to analyst estimates of $481.10 million. During the same quarter last year, the firm earned $0.30 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. research analysts anticipate that Cadence Design Systems, Inc. will post 1.06 earnings per share for the current year.
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A number of brokerages recently issued reports on CDNS. Needham & Company LLC reissued a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, October 29th. 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 report on Thursday, July 27th. BidaskClub lowered shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Bank of America Corporation boosted their target price on shares of Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $46.00 price target on shares of Cadence Design Systems in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $40.60.
Several large investors have recently bought and sold shares of the company. Teachers Advisors LLC lifted its position in Cadence Design Systems by 8.2% during the 1st quarter. Teachers Advisors LLC now owns 376,033 shares of the software maker’s stock valued at $11,807,000 after acquiring an additional 28,609 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Cadence Design Systems in the second quarter worth approximately $345,000. Capstone Asset Management Co. grew its stake in shares of Cadence Design Systems by 1.0% in the second quarter. Capstone Asset Management Co. now owns 27,461 shares of the software maker’s stock worth $920,000 after acquiring an additional 260 shares during the period. Atria Investments LLC bought a new stake in shares of Cadence Design Systems in the second quarter worth approximately $231,000. Finally, NN Investment Partners Holdings N.V. boosted its holdings in shares of Cadence Design Systems by 1,059.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 22,037 shares of the software maker’s stock worth $738,000 after buying an additional 20,137 shares during the last quarter. 84.15% of the stock is owned by hedge funds and other institutional investors.
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).
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