Cadence Design Systems, Inc. (CDNS) CFO Geoffrey G. Ribar Sells 35,000 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNS) CFO Geoffrey G. Ribar sold 35,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $37.31, for a total transaction of $1,305,850.00. Following the completion of the transaction, the chief financial officer now directly owns 204,413 shares in the company, valued at approximately $7,626,649.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Cadence Design Systems, Inc. (CDNS) traded up 0.11% during trading on Monday, reaching $36.99. 873,230 shares of the company’s stock were exchanged. Cadence Design Systems, Inc. has a 52-week low of $24.15 and a 52-week high of $37.70. The company has a market capitalization of $10.36 billion, a PE ratio of 43.01 and a beta of 0.94. The company has a 50 day moving average price of $35.62 and a 200-day moving average price of $33.05.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 24th. The software maker reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.02. The firm had revenue of $479 million for the quarter, compared to analyst estimates of $476.21 million. Cadence Design Systems had a net margin of 12.86% and a return on equity of 27.81%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 earnings per share. On average, equities analysts forecast that Cadence Design Systems, Inc. will post $1.39 earnings per share for the current year.

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Several institutional investors have recently made changes to their positions in CDNS. Benjamin F. Edwards & Company Inc. raised its position in shares of Cadence Design Systems by 0.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 6,370 shares of the software maker’s stock valued at $200,000 after buying an additional 31 shares in the last quarter. Caxton Associates LP increased its stake in shares of Cadence Design Systems by 0.6% in the second quarter. Caxton Associates LP now owns 15,900 shares of the software maker’s stock valued at $532,000 after buying an additional 100 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Cadence Design Systems by 0.3% in the first quarter. Victory Capital Management Inc. now owns 39,348 shares of the software maker’s stock valued at $1,236,000 after buying an additional 105 shares during the last quarter. Wetherby Asset Management Inc. increased its stake in shares of Cadence Design Systems by 1.2% in the second quarter. Wetherby Asset Management Inc. now owns 9,581 shares of the software maker’s stock valued at $321,000 after buying an additional 109 shares during the last quarter. Finally, Advantus Capital Management Inc increased its stake in shares of Cadence Design Systems by 0.3% in the first quarter. Advantus Capital Management Inc now owns 35,693 shares of the software maker’s stock valued at $1,121,000 after buying an additional 112 shares during the last quarter. Institutional investors own 86.08% of the company’s stock.

A number of equities analysts have issued reports on the stock. BidaskClub raised shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Zacks Investment Research cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report 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 stock a “buy” rating in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada raised their target price on shares of Cadence Design Systems from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $33.67.

About Cadence Design Systems

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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