Cadence Design Systems, Inc. (NASDAQ:CDNS) SVP Karna Nisewaner Sells 600 Shares of Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) SVP Karna Nisewaner sold 600 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $307.75, for a total transaction of $184,650.00. Following the completion of the sale, the senior vice president now owns 19,280 shares of the company’s stock, valued at $5,933,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Karna Nisewaner also recently made the following trade(s):

• On Monday, June 3rd, Karna Nisewaner sold 600 shares of Cadence Design Systems stock. The shares were sold at an average price of $287.31, for a total transaction of $172,386.00.
• On Wednesday, May 1st, Karna Nisewaner sold 600 shares of Cadence Design Systems stock. The stock was sold at an average price of $275.36, for a total transaction of $165,216.00.

Cadence Design Systems Trading Up 1.9 %

NASDAQ CDNS opened at $316.78 on Wednesday. Cadence Design Systems, Inc. has a one year low of $217.77 and a one year high of $328.99. The firm has a 50 day simple moving average of $295.02 and a 200-day simple moving average of $294.24. The firm has a market cap of $86.30 billion, a price-to-earnings ratio of 82.49, a PEG ratio of 3.77 and a beta of 1.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.19 and a current ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, topping the consensus estimate of $1.13 by $0.04. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.02 earnings per share. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 4.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. KeyCorp lifted their price objective on Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Bank of America raised their price target on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Wells Fargo & Company boosted their price objective on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Robert W. Baird boosted their price target on shares of Cadence Design Systems from $322.00 to $341.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price objective on shares of Cadence Design Systems in a research report on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $334.89.

Institutional Investors Weigh In On Cadence Design Systems

Large investors have recently bought and sold shares of the stock. Ulland Investment Advisors LLC acquired a new position in shares of Cadence Design Systems during the first quarter worth about $25,000. Valley National Advisers Inc. grew its holdings in Cadence Design Systems by 90.4% during the 4th quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock worth $26,000 after acquiring an additional 47 shares in the last quarter. RiverPark Advisors LLC purchased a new stake in shares of Cadence Design Systems in the 1st quarter valued at approximately $26,000. Fortitude Family Office LLC acquired a new stake in shares of Cadence Design Systems in the 4th quarter valued at $28,000. Finally, Annapolis Financial Services LLC purchased a new stake in shares of Cadence Design Systems during the 1st quarter worth $32,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

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.