Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $308.83, for a total transaction of $463,245.00. Following the transaction, the director now owns 50,183 shares of the company's stock, valued at approximately $15,498,015.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Vincentelli Albert Sangiovanni also recently made the following trade(s):
- On Thursday, March 14th, Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock. The stock was sold at an average price of $309.16, for a total transaction of $463,740.00.
- On Tuesday, February 6th, Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock. The stock was sold at an average price of $299.42, for a total transaction of $449,130.00.
- On Wednesday, January 24th, Vincentelli Albert Sangiovanni sold 4,500 shares of Cadence Design Systems stock. The stock was sold at an average price of $300.00, for a total transaction of $1,350,000.00.
Cadence Design Systems Price Performance
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Shares of NASDAQ:CDNS opened at $293.71 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.13 and a debt-to-equity ratio of 0.09. The stock's fifty day simple moving average is $306.58 and its two-hundred day simple moving average is $279.35. Cadence Design Systems, Inc. has a 1-year low of $194.01 and a 1-year high of $327.36. The stock has a market cap of $79.96 billion, a PE ratio of 76.89, a price-to-earnings-growth ratio of 3.66 and a beta of 1.04.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released 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. Cadence Design Systems had a return on equity of 35.57% and a net margin of 25.46%. The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the business posted $0.75 EPS. The business's revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, analysts forecast that Cadence Design Systems, Inc. will post 4.82 EPS for the current fiscal year.
Institutional Investors Weigh In On Cadence Design Systems
Several institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust lifted its holdings 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 purchasing an additional 38 shares during the last quarter. 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 buying an additional 39 shares during the period. Fiduciary Trust Co increased its position in shares of Cadence Design Systems by 0.6% during the fourth quarter. Fiduciary Trust Co now owns 6,730 shares of the software maker's stock valued at $1,833,000 after buying an additional 39 shares during the period. Harbour Investments Inc. increased its position in shares of Cadence Design Systems by 66.1% during the fourth quarter. Harbour Investments Inc. now owns 98 shares of the software maker's stock valued at $27,000 after buying an additional 39 shares during the period. Finally, Wealthcare Advisory Partners LLC increased its position in shares of Cadence Design Systems by 4.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 951 shares of the software maker's stock valued at $296,000 after buying an additional 41 shares during the period. 84.85% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on CDNS shares. KeyCorp raised their price target on shares of Cadence Design Systems from $335.00 to $340.00 and gave the stock an "overweight" rating in a report on Monday. StockNews.com downgraded shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Tuesday. Stifel Nicolaus raised their price objective on shares of Cadence Design Systems from $300.00 to $350.00 and gave the stock a "buy" rating in a research report on Tuesday, February 13th. Morgan Stanley raised shares of Cadence Design Systems from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $260.00 to $350.00 in a research report on Wednesday, February 14th. Finally, 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 research report on Tuesday, February 13th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Cadence Design Systems has an average rating of "Moderate Buy" and an average target price of $316.10.
Check Out Our Latest Analysis on Cadence Design Systems
Cadence Design Systems Company Profile
(
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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