Insider Selling: Cadence Design Systems (NASDAQ:CDNS) VP Sells 1,000 Shares of Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $295.09, for a total value of $295,090.00. Following the completion of the transaction, the vice president directly owned 95,137 shares in the company, valued at approximately $28,073,977.33. This trade represents a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Paul Cunningham also recently made the following trade(s):

• On Friday, January 2nd, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $315.70, for a total value of $315,700.00.
• On Monday, December 1st, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $312.64, for a total value of $312,640.00.

Cadence Design Systems Stock Up 1.1%

Shares of CDNS stock traded up $3.03 on Wednesday, hitting $271.53. The stock had a trading volume of 5,070,954 shares, compared to its average volume of 2,253,660. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The business has a 50 day moving average price of $316.18 and a 200 day moving average price of $332.17. The company has a market cap of $73.91 billion, a PE ratio of 69.98, a P/E/G ratio of 3.23 and a beta of 1.01. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Robert W. Baird lifted their price objective on shares of Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Oppenheimer upgraded shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective for the company in a research note on Monday, December 1st. Citigroup initiated coverage on shares of Cadence Design Systems in a research note on Monday, November 24th. They issued a “buy” rating and a $385.00 target price for the company. Finally, Rosenblatt Securities upped their price target on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $379.59.

Institutional Trading of Cadence Design Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDNS. Y.D. More Investments Ltd purchased a new stake in Cadence Design Systems in the third quarter valued at approximately $26,000. Caitlin John LLC purchased a new position in shares of Cadence Design Systems during the third quarter worth $29,000. Lodestone Wealth Management LLC acquired a new position in Cadence Design Systems during the fourth quarter valued at $30,000. Imprint Wealth LLC acquired a new position in Cadence Design Systems during the third quarter valued at $31,000. Finally, Strategic Wealth Investment Group LLC purchased a new stake in Cadence Design Systems in the second quarter valued at $32,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.