Cadence Design Systems, Inc. (NASDAQ: CDNS – Rated) Vice President Paul Cunningham sold 250 shares of the company in trading on Tuesday, July 5. The stock sold at an average price of $148.24 for a total value of $37,060.00. Following the sale, the vice president now owns 96,764 shares of the company’s stock, valued at $14,344,295.36. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website.
Paul Cunningham also recently made the following transactions:
- On Monday, June 6, Paul Cunningham sold 250 shares of Cadence Design Systems. Shares sold at an average price of $160.90 for a total value of $40,225.00.
CDNS stock opened Friday at $160.42. The stock’s 50-day moving average is $149.34 and its 200-day moving average is $154.03. Cadence Design Systems, Inc. had a 1-year low of $132.32 and a 1-year high of $192.70. The company has a market cap of $44.24 billion, a price-to-earnings ratio of 60.08, a price-to-earnings ratio of 2.99, and a beta of 1.09. The company’s gearing ratio is 0.13, its current ratio is 1.81, and its quick ratio is 1.69.
Cadence Design Systems (NASDAQ: CDNS – Get Rating) last reported quarterly earnings results on Monday, April 25. The software maker reported earnings per share of $0.95 for the quarter, beating analysts’ consensus estimate of $0.83 by $0.12. The business reported revenue of $902 million for the quarter, compared with analysts’ estimates of $859.63 million. Cadence Design Systems had a return on equity of 31.01% and a net profit margin of 23.59%. The company’s revenue rose 22.6% year over year. In the same quarter last year, the company earned $0.67 per share. As a group, equity research analysts expect Cadence Design Systems, Inc. to report earnings per share of 3.13 for the year.
Some institutional investors have recently revised their holdings in the business. San Luis Wealth Advisors LLC acquired a new stake in Cadence Design Systems for $28,000 in the first quarter. CVA Family Office LLC increased its stake in Cadence Design Systems by 433.3% in the first quarter. CVA Family Office LLC now owns 160 shares of the software maker’s stock, worth $26,000, after buying an additional 130 shares in the previous quarter. Riverview Trust Co acquired a new position in Cadence Design Systems stock for about $27,000 in the first quarter. MV Capital Management Inc. increased its stake in Cadence Design Systems by 74.1% in the first quarter. MV Capital Management Inc. now owns 188 shares of the software maker’s stock, worth $31,000, after buying an additional 80 shares last quarter. Finally, Selective Wealth Management Inc. purchased a new stake in Cadence Design Systems for approximately $37,000 in the fourth quarter. Institutional investors and hedge funds own 84.07% of the company.
Several research analysts have already issued reports on the stock. In a Wednesday, June 29 report, Bank of America upgraded Cadence Design Systems’ stock to “neutral” from “underperform” and raised its price target on the stock to $175.00 from $160.00 . StockNews.com first reported Cadence Design Systems stock in a report on Thursday, March 31. They have a “buy” rating on the stock. UBS raised its price target on Cadence Design Systems to $180.00 from $170.00 in a report on Tuesday, April 26, and gave the stock a “neutral” rating. Robert W. Baird lowered his price target for Cadence Design Systems to $203.00 from $211.00 in a report on Tuesday, April 26. Finally, Needham & Company LLC raised its price target on Cadence Design Systems to $193.00 from $185.00 and gave the stock a “buy” rating in a research note on Tuesday, April 26. Four analysts have a hold rating on the stock, and eight have a buy rating on the company’s stock. Cadence Design Systems has an average rating of “Moderate Buy” and an average price target of $186.27, according to MarketBeat.
Rhythm Design Systems Company Profile (get a rating)
Cadence Design Systems, Inc provides software, hardware, services and reusable integrated circuit (IC) design modules worldwide. The company provides functional verification services, including simulation and prototyping hardware. Its functional verification products include JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise simulation platform; and Protium, a prototyping platform for chip verification.
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