Lip Bu Tan Sells 40,000 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock

Cadence Design Systems, Inc. (NASDAQ:CDNSGet Rating) insider Lip Bu Tan sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $148.70, for a total value of $5,948,000.00. Following the transaction, the insider now directly owns 1,197,268 shares of the company’s stock, valued at $178,033,751.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Lip Bu Tan also recently made the following trade(s):

  • On Friday, May 27th, Lip Bu Tan sold 50,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $153.58, for a total value of $7,679,000.00.
  • On Friday, May 20th, Lip Bu Tan sold 40,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $143.77, for a total value of $5,750,800.00.
  • On Tuesday, May 3rd, Lip Bu Tan sold 70,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $152.30, for a total value of $10,661,000.00.
  • On Thursday, April 21st, Lip Bu Tan sold 40,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $154.80, for a total value of $6,192,000.00.
  • On Tuesday, April 19th, Lip Bu Tan sold 45,064 shares of Cadence Design Systems stock. The stock was sold at an average price of $153.22, for a total value of $6,904,706.08.

Shares of NASDAQ:CDNS traded up $5.10 on Thursday, reaching $151.06. 1,840,844 shares of the company traded hands, compared to its average volume of 1,747,490. The company’s 50 day moving average is $149.08 and its 200-day moving average is $156.54. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.81 and a quick ratio of 1.69. Cadence Design Systems, Inc. has a fifty-two week low of $132.32 and a fifty-two week high of $192.70. The stock has a market capitalization of $41.66 billion, a PE ratio of 54.67, a P/E/G ratio of 2.78 and a beta of 1.13.

Cadence Design Systems (NASDAQ:CDNSGet Rating) last announced its earnings results on Monday, April 25th. The software maker reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.12. Cadence Design Systems had a net margin of 23.59% and a return on equity of 31.01%. The company had revenue of $902.00 million for the quarter, compared to the consensus estimate of $859.63 million. During the same period in the previous year, the business earned $0.67 EPS. The company’s revenue was up 22.6% on a year-over-year basis. As a group, analysts expect that Cadence Design Systems, Inc. will post 3.13 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. Offit Capital Advisors LLC raised its stake in Cadence Design Systems by 3.6% during the 1st quarter. Offit Capital Advisors LLC now owns 3,498 shares of the software maker’s stock valued at $575,000 after purchasing an additional 122 shares during the period. J.W. Cole Advisors Inc. acquired a new stake in Cadence Design Systems during the 1st quarter valued at $39,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Cadence Design Systems by 31.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 231,816 shares of the software maker’s stock valued at $38,124,000 after purchasing an additional 55,737 shares during the period. Ninety One UK Ltd acquired a new stake in Cadence Design Systems during the 1st quarter valued at $16,840,000. Finally, Neuberger Berman Group LLC raised its stake in Cadence Design Systems by 34.8% during the 1st quarter. Neuberger Berman Group LLC now owns 985,456 shares of the software maker’s stock valued at $162,079,000 after purchasing an additional 254,342 shares during the period. 84.07% of the stock is currently owned by institutional investors.

Several equities analysts have recently issued reports on the company. UBS Group boosted their price objective on Cadence Design Systems from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 26th. Rosenblatt Securities upped their target price on Cadence Design Systems from $173.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, February 23rd. Needham & Company LLC upped their target price on Cadence Design Systems from $185.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, April 26th. StockNews.com started coverage on Cadence Design Systems in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Finally, Robert W. Baird cut their target price on Cadence Design Systems from $211.00 to $203.00 in a research report on Tuesday, April 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $186.73.

About Cadence Design Systems (Get Rating)

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

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