Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Sells $3,058,400.00 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Chin-Chi Teng sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $305.84, for a total value of $3,058,400.00. Following the sale, the vice president now owns 95,408 shares of the company’s stock, valued at $29,179,582.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Chin-Chi Teng also recently made the following trade(s):

• On Thursday, June 6th, Chin-Chi Teng sold 32,184 shares of Cadence Design Systems stock. The stock was sold at an average price of $297.45, for a total transaction of $9,573,130.80.

Cadence Design Systems Trading Down 0.4 %

Shares of CDNS stock opened at $315.47 on Friday. The business’s 50 day moving average is $296.47 and its two-hundred day moving average is $294.71. The company has a quick ratio of 1.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.08. Cadence Design Systems, Inc. has a 12 month low of $217.77 and a 12 month high of $328.99. The company has a market cap of $85.94 billion, a PE ratio of 82.15, a price-to-earnings-growth ratio of 3.88 and a beta of 1.03.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, topping the consensus estimate of $1.13 by $0.04. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 EPS. Equities analysts predict that Cadence Design Systems, Inc. will post 4.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CDNS shares. Needham & Company LLC reissued a “buy” rating and set a $320.00 target price on shares of Cadence Design Systems in a research note on Friday, May 17th. Robert W. Baird boosted their target price on Cadence Design Systems from $322.00 to $341.00 and gave the company an “outperform” rating in a research note on Tuesday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a research note on Monday, April 22nd. StockNews.com cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, Piper Sandler cut their price objective on shares of Cadence Design Systems from $334.00 to $318.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus target price of $334.89.

Institutional Trading of Cadence Design Systems

A number of hedge funds have recently bought and sold shares of CDNS. Parkside Financial Bank & Trust increased its stake in Cadence Design Systems by 8.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 514 shares of the software maker’s stock valued at $140,000 after acquiring an additional 38 shares during the period. Highview Capital Management LLC DE increased its position in shares of Cadence Design Systems by 0.8% during the fourth quarter. Highview Capital Management LLC DE now owns 5,180 shares of the software maker’s stock valued at $1,411,000 after purchasing an additional 39 shares during the period. Fiduciary Trust Co raised its stake in shares of Cadence Design Systems by 0.6% in the fourth quarter. Fiduciary Trust Co now owns 6,730 shares of the software maker’s stock valued at $1,833,000 after purchasing an additional 39 shares in the last quarter. Capital Market Strategies LLC lifted its position in Cadence Design Systems by 3.1% in the second quarter. Capital Market Strategies LLC now owns 1,300 shares of the software maker’s stock worth $400,000 after purchasing an additional 39 shares during the period. Finally, GraniteShares Advisors LLC boosted its stake in Cadence Design Systems by 1.2% during the first quarter. GraniteShares Advisors LLC now owns 3,468 shares of the software maker’s stock worth $1,080,000 after buying an additional 40 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

About Cadence Design Systems

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.