Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) SVP Karna Nisewaner sold 659 shares of the business's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $275.98, for a total transaction of $181,870.82. Following the transaction, the senior vice president now owns 16,029 shares in the company, valued at approximately $4,423,683.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Karna Nisewaner also recently made the following trade(s):
- On Friday, August 16th, Karna Nisewaner sold 1,213 shares of Cadence Design Systems stock. The stock was sold at an average price of $279.49, for a total transaction of $339,021.37.
- On Monday, July 1st, Karna Nisewaner sold 600 shares of Cadence Design Systems stock. The shares were sold at an average price of $307.75, for a total value of $184,650.00.
Cadence Design Systems Stock Down 1.9 %
CDNS stock opened at $269.69 on Thursday. The business's 50-day moving average is $271.06 and its two-hundred day moving average is $290.86. The company has a market cap of $73.47 billion, a price-to-earnings ratio of 70.23, a P/E/G ratio of 3.19 and a beta of 1.02. Cadence Design Systems, Inc. has a fifty-two week low of $227.05 and a fifty-two week high of $328.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 1.43.
Trump Warns Gov. Can Confiscate Your Money. CBDC's give Gov. absolute
From Monetary Gold | Ad
Donald Trump once again sounded the alarm against Fed-controlled digital currencies (CBDCs).
If these plans are implemented, it could mean the end of America as we know it.
This means you must act NOW before it's too late.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, July 22nd. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.06. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The firm's revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 EPS. As a group, analysts forecast that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Bank of America lifted their price target on Cadence Design Systems from $330.00 to $350.00 and gave the stock a "buy" rating in a research report on Thursday, May 30th. KeyCorp lifted their target price on shares of Cadence Design Systems from $350.00 to $355.00 and gave the stock an "overweight" rating in a report on Thursday, June 27th. Robert W. Baird cut their price target on shares of Cadence Design Systems from $341.00 to $338.00 and set an "outperform" rating on the stock in a report on Tuesday, July 23rd. Piper Sandler upgraded shares of Cadence Design Systems from a "neutral" rating to an "overweight" rating and set a $318.00 price objective for the company in a report on Tuesday, August 6th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $320.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Cadence Design Systems currently has an average rating of "Moderate Buy" and an average target price of $334.56.
Get Our Latest Stock Report on Cadence Design Systems
Institutional Investors Weigh In On Cadence Design Systems
A number of institutional investors and hedge funds have recently bought and sold shares of CDNS. Swedbank AB purchased a new stake in Cadence Design Systems during the first quarter valued at $439,988,000. Principal Financial Group Inc. lifted its stake in shares of Cadence Design Systems by 280.1% in the 2nd quarter. Principal Financial Group Inc. now owns 1,519,661 shares of the software maker's stock valued at $467,676,000 after purchasing an additional 1,119,824 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Cadence Design Systems by 58.1% in the 1st quarter. BNP Paribas Financial Markets now owns 1,273,678 shares of the software maker's stock worth $396,470,000 after purchasing an additional 468,195 shares during the period. Jennison Associates LLC increased its position in shares of Cadence Design Systems by 6.9% during the 1st quarter. Jennison Associates LLC now owns 7,085,526 shares of the software maker's stock valued at $2,205,582,000 after purchasing an additional 459,603 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Cadence Design Systems by 111.5% during the 1st quarter. 1832 Asset Management L.P. now owns 856,410 shares of the software maker's stock valued at $266,583,000 after buying an additional 451,530 shares during the period. 84.85% of the stock is owned by institutional investors.
Cadence Design Systems Company Profile
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
