Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Sells $164,274.50 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) VP Paul Cunningham sold 650 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $252.73, for a total value of $164,274.50. Following the transaction, the vice president now owns 58,123 shares in the company, valued at $14,689,425.79. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, February 3rd, Paul Cunningham sold 650 shares of Cadence Design Systems stock. The stock was sold at an average price of $292.32, for a total value of $190,008.00.
• On Thursday, January 2nd, Paul Cunningham sold 650 shares of Cadence Design Systems stock. The stock was sold at an average price of $304.84, for a total value of $198,146.00.

Cadence Design Systems Stock Up 0.0 %

Shares of NASDAQ CDNS traded up $0.05 during mid-day trading on Friday, hitting $243.21. The company had a trading volume of 2,405,879 shares, compared to its average volume of 1,766,864. The company has a market capitalization of $66.67 billion, a PE ratio of 63.01, a price-to-earnings-growth ratio of 3.88 and a beta of 1.05. The firm has a 50-day simple moving average of $288.68 and a two-hundred day simple moving average of $285.44. The company has a current ratio of 2.93, a quick ratio of 2.27 and a debt-to-equity ratio of 0.53. Cadence Design Systems, Inc. has a one year low of $233.72 and a one year high of $328.99.

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Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The software maker reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.33). Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. On average, equities analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Wall Street Analysts Forecast Growth

CDNS has been the topic of several research reports. Robert W. Baird reduced their price objective on Cadence Design Systems from $340.00 to $335.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Loop Capital cut their price target on Cadence Design Systems from $360.00 to $340.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Piper Sandler upped their price objective on shares of Cadence Design Systems from $318.00 to $328.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Needham & Company LLC restated a "buy" rating and issued a $325.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, February 19th. Finally, Redburn Atlantic initiated coverage on shares of Cadence Design Systems in a research report on Monday, January 13th. They issued a "buy" rating and a $350.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $326.92.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in shares of Cadence Design Systems during the fourth quarter worth $28,000. Missouri Trust & Investment Co acquired a new position in shares of Cadence Design Systems during the third quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Cadence Design Systems during the third quarter worth $28,000. Ancora Advisors LLC lifted its holdings in shares of Cadence Design Systems by 1,400.0% during the fourth quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock worth $36,000 after purchasing an additional 112 shares during the period. Finally, Avalon Trust Co acquired a new position in shares of Cadence Design Systems during the fourth quarter worth $39,000. 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.