Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Sells $366,807.30 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNSGet Free Report) VP Aneel Zaman sold 1,207 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $303.90, for a total transaction of $366,807.30. Following the completion of the sale, the vice president now owns 61,150 shares of the company’s stock, valued at approximately $18,583,485. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Aneel Zaman also recently made the following trade(s):

  • On Friday, February 2nd, Aneel Zaman sold 78 shares of Cadence Design Systems stock. The shares were sold at an average price of $290.75, for a total transaction of $22,678.50.

Cadence Design Systems Trading Up 0.2 %

NASDAQ:CDNS traded up $0.57 during trading hours on Wednesday, reaching $300.58. The company’s stock had a trading volume of 752,314 shares, compared to its average volume of 1,577,060. The firm has a market capitalization of $81.83 billion, a price-to-earnings ratio of 78.54, a PEG ratio of 3.70 and a beta of 1.07. The firm has a 50-day simple moving average of $284.50 and a 200-day simple moving average of $260.62. Cadence Design Systems, Inc. has a 1 year low of $189.30 and a 1 year high of $315.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.13 and a current ratio of 1.24.

Cadence Design Systems (NASDAQ:CDNSGet Free Report) last issued its earnings results on Monday, February 12th. The software maker reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.05. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Cadence Design Systems had a net margin of 25.46% and a return on equity of 35.57%. The firm’s revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 EPS. Research analysts expect that Cadence Design Systems, Inc. will post 4.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CDNS. StockNews.com raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Thursday, February 15th. Rosenblatt Securities downgraded shares of Cadence Design Systems from a “buy” rating to a “neutral” rating and increased their target price for the company from $265.00 to $280.00 in a research report on Tuesday, February 13th. Stifel Nicolaus increased their target price on shares of Cadence Design Systems from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Robert W. Baird raised their price objective on shares of Cadence Design Systems from $289.00 to $302.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. Finally, Morgan Stanley upgraded shares of Cadence Design Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $260.00 to $350.00 in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $311.33.

Check Out Our Latest Analysis on Cadence Design Systems

Hedge Funds Weigh In On Cadence Design Systems

A number of large investors have recently added to or reduced their stakes in CDNS. Cornerstone Advisors LLC bought a new stake in Cadence Design Systems in the 2nd quarter worth $1,032,000. Twin Tree Management LP grew its holdings in Cadence Design Systems by 60.8% in the 2nd quarter. Twin Tree Management LP now owns 118,974 shares of the software maker’s stock worth $27,902,000 after acquiring an additional 44,966 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Cadence Design Systems by 34.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 386,993 shares of the software maker’s stock worth $91,775,000 after acquiring an additional 99,251 shares during the last quarter. Thematics Asset Management grew its holdings in Cadence Design Systems by 5.7% in the 2nd quarter. Thematics Asset Management now owns 99,296 shares of the software maker’s stock worth $23,287,000 after acquiring an additional 5,382 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in Cadence Design Systems by 27.6% in the 2nd quarter. New York State Common Retirement Fund now owns 521,991 shares of the software maker’s stock worth $122,417,000 after acquiring an additional 113,012 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

About Cadence Design Systems

(Get Free Report)

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.

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

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