Cadence Design Systems, Inc. (NASDAQ:CDNS) Director Vincentelli Albert Sangiovanni Sells 1,500 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNS) Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $275.98, for a total value of $413,970.00. Following the transaction, the director now owns 43,551 shares of the company’s stock, valued at approximately $12,019,204.98. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Vincentelli Albert Sangiovanni also recently made the following trade(s):

• On Thursday, August 15th, Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock. The stock was sold at an average price of $276.24, for a total transaction of $414,360.00.
• On Monday, July 15th, Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock. The stock was sold at an average price of $314.57, for a total transaction of $471,855.00.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $280.35 on Friday. The stock has a market cap of $76.37 billion, a PE ratio of 73.01, a price-to-earnings-growth ratio of 3.19 and a beta of 1.02. Cadence Design Systems, Inc. has a 12 month low of $227.05 and a 12 month high of $328.99. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $270.39 and a 200-day simple moving average of $290.78.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.06. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 EPS. On average, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 4.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of research analyst reports. KeyCorp upped their target price 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. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price target on shares of Cadence Design Systems in a report on Tuesday, July 23rd. Bank of America raised their price objective on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Robert W. Baird cut their target price on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a research note on Tuesday, July 23rd. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus target price of $334.56.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Ulland Investment Advisors LLC purchased a new position in shares of Cadence Design Systems during the 1st quarter valued at $25,000. RiverPark Advisors LLC acquired a new stake in shares of Cadence Design Systems during the 1st quarter valued at about $26,000. ORG Partners LLC grew its stake in shares of Cadence Design Systems by 911.1% in the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after buying an additional 82 shares in the last quarter. Annapolis Financial Services LLC acquired a new position in Cadence Design Systems in the first quarter worth approximately $32,000. Finally, Union Savings Bank bought a new position in Cadence Design Systems during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds 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.