John M. Wall Sells 15,000 Shares of Cadence Design Systems Inc (NASDAQ:CDNS) Stock

Cadence Design Systems Inc (NASDAQ:CDNS) CFO John M. Wall sold 15,000 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $104.26, for a total transaction of $1,563,900.00. Following the completion of the transaction, the chief financial officer now owns 185,946 shares of the company’s stock, valued at approximately $19,386,729.96. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Shares of Cadence Design Systems stock opened at $109.25 on Friday. The stock has a market capitalization of $30.46 billion, a P/E ratio of 30.10, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The company has a quick ratio of 1.39, a current ratio of 1.42 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $97.52 and a 200 day simple moving average of $80.44. Cadence Design Systems Inc has a 12-month low of $51.39 and a 12-month high of $109.26.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, July 20th. The software maker reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The business had revenue of $638.42 million during the quarter, compared to analysts’ expectations of $591.09 million. Cadence Design Systems had a net margin of 41.74% and a return on equity of 50.84%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS. On average, equities analysts anticipate that Cadence Design Systems Inc will post 1.88 earnings per share for the current year.

CDNS has been the subject of a number of recent research reports. DA Davidson increased their price objective on shares of Cadence Design Systems from $90.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Bank of America increased their price objective on shares of Cadence Design Systems from $115.00 to $128.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Robert W. Baird increased their price objective on shares of Cadence Design Systems from $110.00 to $117.00 and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Wells Fargo & Co increased their price objective on shares of Cadence Design Systems from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Finally, Credit Suisse Group restated a “hold” rating and issued a $80.00 price objective on shares of Cadence Design Systems in a research note on Friday, July 17th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $100.17.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hotaling Investment Management LLC acquired a new stake in Cadence Design Systems in the 2nd quarter valued at about $236,000. Sigma Planning Corp acquired a new stake in Cadence Design Systems in the 2nd quarter valued at about $539,000. Fox Run Management L.L.C. acquired a new stake in Cadence Design Systems in the 2nd quarter valued at about $334,000. UBS Group AG increased its position in Cadence Design Systems by 45.2% in the 2nd quarter. UBS Group AG now owns 293,569 shares of the software maker’s stock valued at $28,171,000 after acquiring an additional 91,436 shares in the last quarter. Finally, LA Financiere DE L Echiquier increased its position in Cadence Design Systems by 17.7% in the 2nd quarter. LA Financiere DE L Echiquier now owns 6,278 shares of the software maker’s stock valued at $602,000 after acquiring an additional 946 shares in the last quarter. Hedge funds and other institutional investors own 87.00% of the company’s stock.

Cadence Design Systems Company Profile

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 simulation platform; Palladium Z1, an enterprise emulation platform; and Protium S1 field-programmable gate array prototyping platform.

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