Cadence Design Systems, Inc. (NASDAQ:CDNS) Director Vincentelli Albert Sangiovanni Sells 1,500 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNSGet Free Report) Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $287.14, for a total transaction of $430,710.00. Following the sale, the director now directly owns 49,551 shares in the company, valued at $14,228,074.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Vincentelli Albert Sangiovanni also recently made the following trade(s):

  • On Monday, April 15th, Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock. The shares were sold at an average price of $308.83, for a total transaction of $463,245.00.
  • On Thursday, March 14th, Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock. The shares were sold at an average price of $309.16, for a total value of $463,740.00.

Cadence Design Systems Price Performance

CDNS stock opened at $288.81 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $297.52 and its 200 day simple moving average is $285.45. Cadence Design Systems, Inc. has a 12-month low of $203.13 and a 12-month high of $327.36. The firm has a market cap of $78.59 billion, a price-to-earnings ratio of 75.21, a PEG ratio of 3.41 and a beta of 1.06.

Cadence Design Systems (NASDAQ:CDNSGet Free Report) last announced its earnings results on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, beating the consensus estimate of $1.13 by $0.04. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Cadence Design Systems had a return on equity of 32.44% and a net margin of 25.68%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 EPS. On average, analysts expect that Cadence Design Systems, Inc. will post 4.77 earnings per share for the current year.

Hedge Funds Weigh In On Cadence Design Systems

Institutional investors have recently modified their holdings of the company. Ulland Investment Advisors LLC bought a new position in shares of Cadence Design Systems in the first quarter valued at approximately $25,000. OFI Invest Asset Management bought a new stake in shares of Cadence Design Systems in the 3rd quarter worth $26,000. Valley National Advisers Inc. raised its holdings in shares of Cadence Design Systems by 90.4% in the fourth quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock valued at $26,000 after purchasing an additional 47 shares during the last quarter. RiverPark Advisors LLC bought a new position in shares of Cadence Design Systems during the first quarter valued at about $26,000. Finally, Fortitude Family Office LLC purchased a new position in Cadence Design Systems during the fourth quarter worth about $28,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CDNS shares. Wells Fargo & Company upped their target price on Cadence Design Systems from $330.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. KeyCorp upped their price objective on Cadence Design Systems from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Stifel Nicolaus lifted their target price 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. Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a research note on Monday, April 22nd. Finally, Piper Sandler cut their price target on shares of Cadence Design Systems from $334.00 to $318.00 and set a “neutral” rating on the stock in a report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average price target of $326.11.

Check Out Our Latest Research Report on Cadence Design Systems

About Cadence Design Systems

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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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