Cadence Design Systems, Inc. (NASDAQ:CDNS) CFO Geoffrey G. Ribar sold 15,000 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $37.55, for a total transaction of $563,250.00. Following the transaction, the chief financial officer now directly owns 184,413 shares in the company, valued at approximately $6,924,708.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Cadence Design Systems, Inc. (CDNS) opened at 38.69 on Friday. Cadence Design Systems, Inc. has a 52 week low of $24.15 and a 52 week high of $39.49. The firm has a market cap of $10.84 billion, a PE ratio of 44.99 and a beta of 0.91. The stock has a 50 day moving average of $36.70 and a 200 day moving average of $33.70.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, July 24th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Cadence Design Systems had a return on equity of 27.81% and a net margin of 12.86%. The business had revenue of $479 million during the quarter, compared to analysts’ expectations of $476.21 million. During the same period in the prior year, the business earned $0.29 EPS. Cadence Design Systems’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts anticipate that Cadence Design Systems, Inc. will post $1.39 EPS for the current year.

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A number of hedge funds have recently bought and sold shares of CDNS. Daiwa Securities Group Inc. boosted its stake in Cadence Design Systems by 11.7% in the first quarter. Daiwa Securities Group Inc. now owns 8,600 shares of the software maker’s stock worth $270,000 after buying an additional 900 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Cadence Design Systems by 23.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 256,371 shares of the software maker’s stock worth $8,063,000 after buying an additional 47,971 shares during the last quarter. American Century Companies Inc. boosted its stake in Cadence Design Systems by 13.5% in the first quarter. American Century Companies Inc. now owns 204,331 shares of the software maker’s stock worth $6,416,000 after buying an additional 24,291 shares during the last quarter. Summit Securities Group LLC boosted its stake in Cadence Design Systems by 136.4% in the first quarter. Summit Securities Group LLC now owns 62,556 shares of the software maker’s stock worth $1,964,000 after buying an additional 36,089 shares during the last quarter. Finally, Algert Global LLC boosted its stake in Cadence Design Systems by 68.7% in the first quarter. Algert Global LLC now owns 76,675 shares of the software maker’s stock worth $2,408,000 after buying an additional 31,224 shares during the last quarter. 84.26% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have commented on CDNS shares. BidaskClub raised shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Royal Bank Of Canada raised their target price on shares of Cadence Design Systems from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, July 25th. Zacks Investment Research cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Bank of America Corporation raised their target price on shares of Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Finally, Credit Suisse Group reissued an “outperform” rating on shares of Cadence Design Systems in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $33.67.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).

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

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