Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham Sells 650 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $252.64, for a total transaction of $164,216.00. Following the completion of the sale, the vice president now owns 108,799 shares in the company, valued at approximately $27,486,979.36. This trade represents a 0.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were 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 shares were sold at an average price of $292.32, for a total value of $190,008.00.

Cadence Design Systems Stock Performance

CDNS stock opened at $232.88 on Friday. The stock’s 50 day simple moving average is $268.08 and its 200 day simple moving average is $283.68. The company has a current ratio of 2.93, a quick ratio of 2.27 and a debt-to-equity ratio of 0.53. Cadence Design Systems, Inc. has a 12-month low of $230.09 and a 12-month high of $328.99. The stock has a market capitalization of $63.88 billion, a PE ratio of 60.33, a price-to-earnings-growth ratio of 3.88 and a beta of 1.05.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Tuesday, February 18th. The software maker reported $1.49 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.33). Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. The business had revenue of $1.36 billion for 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 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of research analyst reports. Bank of America lowered their target price 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. Loop Capital dropped their target price on shares of Cadence Design Systems from $360.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Rosenblatt Securities increased their price target on shares of Cadence Design Systems from $280.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Piper Sandler boosted their price objective on shares of Cadence Design Systems from $318.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $325.00 target price on shares of Cadence Design Systems in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus price target of $324.83.

Institutional Trading of Cadence Design Systems

A number of large investors have recently made changes to their positions in the stock. Moody National Bank Trust Division grew 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 grew 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 acquiring an additional 475 shares during the period. Park Square Financial Group LLC purchased a new stake in Cadence Design Systems during the fourth quarter valued at $348,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Cadence Design Systems in the fourth quarter valued at about $75,205,000. Finally, Armis Advisers LLC purchased a new position in Cadence Design Systems in the fourth quarter worth about $635,000. 84.85% of the stock is currently owned by institutional investors.

About Cadence Design Systems

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.