Cadence Design Systems Inc (NASDAQ:CDNS) CEO Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $45.33, for a total value of $4,533,000.00. Following the completion of the sale, the chief executive officer now directly owns 552,813 shares in the company, valued at approximately $25,059,013.29. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

  • On Monday, July 16th, Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $45.14, for a total value of $4,514,000.00.
  • On Friday, June 15th, Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $44.82, for a total value of $4,482,000.00.

Shares of NASDAQ CDNS traded down $0.32 during mid-day trading on Friday, hitting $45.05. The company had a trading volume of 78,092 shares, compared to its average volume of 2,300,921. The stock has a market capitalization of $12.78 billion, a price-to-earnings ratio of 42.58, a PEG ratio of 3.78 and a beta of 1.14. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.30 and a quick ratio of 1.26. Cadence Design Systems Inc has a one year low of $35.49 and a one year high of $46.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 23rd. The software maker reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.05. The company had revenue of $518.40 million during the quarter, compared to analysts’ expectations of $514.94 million. Cadence Design Systems had a return on equity of 28.38% and a net margin of 10.62%. Cadence Design Systems’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. sell-side analysts expect that Cadence Design Systems Inc will post 1 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Andra AP fonden grew its holdings in shares of Cadence Design Systems by 4.2% in the 2nd quarter. Andra AP fonden now owns 180,100 shares of the software maker’s stock valued at $7,800,000 after acquiring an additional 7,200 shares in the last quarter. Global X Management Co LLC grew its holdings in shares of Cadence Design Systems by 54.4% in the 2nd quarter. Global X Management Co LLC now owns 9,218 shares of the software maker’s stock valued at $399,000 after acquiring an additional 3,248 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Cadence Design Systems by 23.4% in the 2nd quarter. California Public Employees Retirement System now owns 803,369 shares of the software maker’s stock valued at $34,794,000 after acquiring an additional 152,528 shares in the last quarter. Davy Asset Management Ltd bought a new position in Cadence Design Systems during the second quarter worth about $1,258,000. Finally, Glenmede Trust Co. NA grew its holdings in Cadence Design Systems by 31.1% during the second quarter. Glenmede Trust Co. NA now owns 119,885 shares of the software maker’s stock worth $5,192,000 after purchasing an additional 28,425 shares during the period. Institutional investors own 88.66% of the company’s stock.

Several research firms have issued reports on CDNS. BidaskClub downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Zacks Investment Research cut Cadence Design Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 26th. JPMorgan Chase & Co. raised their price objective on Cadence Design Systems from $42.00 to $49.00 and gave the company a “market perform” rating in a report on Tuesday, July 24th. Credit Suisse Group raised their price objective on Cadence Design Systems from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Tuesday, July 24th. Finally, Needham & Company LLC raised their price objective on Cadence Design Systems from $47.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $48.43.

About Cadence Design Systems

Cadence Design Systems, Inc provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis 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 simulation platform; Palladium Z1, a verification computing platform; and Protium S1 field-programmable gate array prototyping platform.

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

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