Lip Bu Tan Sells 100,000 Shares of Cadence Design Systems Inc (CDNS) Stock

Cadence Design Systems Inc (NASDAQ:CDNS) CEO Lip Bu Tan sold 100,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $43.52, for a total value of $4,352,000.00. Following the completion of the transaction, the chief executive officer now owns 533,333 shares in the company, valued at approximately $23,210,652.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Monday, October 16th, Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $41.97, for a total value of $4,197,000.00.

Cadence Design Systems Inc (NASDAQ CDNS) opened at $43.21 on Thursday. The stock has a market capitalization of $12,299.60, a P/E ratio of 46.84, a price-to-earnings-growth ratio of 3.44 and a beta of 0.93. The company has a quick ratio of 1.72, a current ratio of 1.79 and a debt-to-equity ratio of 0.64. Cadence Design Systems Inc has a fifty-two week low of $25.18 and a fifty-two week high of $45.64.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Thursday, October 26th. The software maker reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Cadence Design Systems had a return on equity of 29.00% and a net margin of 13.45%. The company had revenue of $485.40 million for the quarter, compared to analyst estimates of $481.10 million. During the same quarter last year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. equities analysts expect that Cadence Design Systems Inc will post 1.06 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. Caxton Associates LP lifted its holdings 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 purchasing an additional 100 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Cadence Design Systems by 6.4% in the second quarter. PNC Financial Services Group Inc. now owns 10,130 shares of the software maker’s stock valued at $338,000 after purchasing an additional 612 shares in the last quarter. ETRADE Capital Management LLC lifted its holdings in shares of Cadence Design Systems by 5.0% in the second quarter. ETRADE Capital Management LLC now owns 18,909 shares of the software maker’s stock valued at $633,000 after purchasing an additional 899 shares in the last quarter. Comerica Bank lifted its holdings in shares of Cadence Design Systems by 0.4% in the second quarter. Comerica Bank now owns 218,060 shares of the software maker’s stock valued at $7,647,000 after purchasing an additional 973 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Cadence Design Systems by 0.5% in the second quarter. American Century Companies Inc. now owns 205,439 shares of the software maker’s stock valued at $6,880,000 after purchasing an additional 1,108 shares in the last quarter. Institutional investors own 84.63% of the company’s stock.

Several brokerages have issued reports on CDNS. KeyCorp reiterated a “hold” rating on shares of Cadence Design Systems in a report on Sunday, November 26th. Zacks Investment Research upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Wednesday, November 1st. DA Davidson increased their price target on Cadence Design Systems to $43.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. They noted that the move was a valuation call. Needham & Company LLC reiterated a “hold” rating on shares of Cadence Design Systems in a report on Sunday, October 29th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $46.00 price target on shares of Cadence Design Systems in a report on Friday, October 27th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Cadence Design Systems presently has an average rating of “Buy” and a consensus price target of $44.50.

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Cadence Design Systems Company Profile

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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