Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Sells $164,216.00 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $252.64, for a total value of $164,216.00. Following the completion of the transaction, the vice president now directly owns 108,799 shares in the company, valued at $27,486,979.36. This trade represents a 0.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, March 3rd, Paul Cunningham sold 650 shares of Cadence Design Systems stock. The stock was sold at an average price of $252.73, for a total transaction of $164,274.50.
• 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 transaction of $190,008.00.

Cadence Design Systems Trading Down 6.4 %

CDNS opened at $232.88 on Friday. Cadence Design Systems, Inc. has a 12 month low of $230.09 and a 12 month high of $328.99. The company has a current ratio of 2.93, a quick ratio of 2.27 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average of $268.08 and a 200 day moving average of $283.75. The firm has a market cap of $63.88 billion, a P/E ratio of 60.33, a P/E/G ratio of 3.88 and a beta of 1.05.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Tuesday, February 18th. The software maker reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.33). Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. As a group, research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Institutional Investors Weigh In On Cadence Design Systems

Several institutional investors have recently made changes to their positions in CDNS. Moody National Bank Trust Division raised its position in Cadence Design Systems by 1.1% in the 1st quarter. Moody National Bank Trust Division now owns 5,289 shares of the software maker’s stock worth $1,345,000 after purchasing an additional 59 shares during the period. Park National Corp OH raised its holdings in shares of Cadence Design Systems by 0.4% in the first quarter. Park National Corp OH now owns 126,554 shares of the software maker’s stock worth $32,186,000 after buying an additional 475 shares during the period. Park Square Financial Group LLC bought a new stake in shares of Cadence Design Systems during the 4th quarter worth approximately $348,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Cadence Design Systems during the 4th quarter valued at $75,205,000. Finally, Armis Advisers LLC bought a new position in Cadence Design Systems in the 4th quarter valued at $635,000. Institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler raised 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. Oppenheimer decreased their price target on Cadence Design Systems from $225.00 to $200.00 and set an “underperform” rating on the stock in a report on Wednesday, March 19th. Bank of America dropped their price objective on Cadence Design Systems from $365.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Redburn Atlantic started coverage on Cadence Design Systems in a report on Monday, January 13th. They issued a “buy” rating and a $350.00 price target on the stock. Finally, Mizuho increased their price objective on shares of Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $324.83.

Cadence Design Systems Company Profile

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.