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 stock in a transaction on Monday, April 15th. The shares were sold at an average price of $308.83, for a total transaction of $463,245.00. Following the completion of the sale, the director now directly owns 50,183 shares of the company’s stock, valued at $15,498,015.89. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, March 14th, Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock. The shares were sold at an average price of $309.16, for a total transaction of $463,740.00.
• On Tuesday, February 6th, Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock. The shares were sold at an average price of $299.42, for a total transaction of $449,130.00.
• On Wednesday, January 24th, Vincentelli Albert Sangiovanni sold 4,500 shares of Cadence Design Systems stock. The shares were sold at an average price of $300.00, for a total transaction of $1,350,000.00.

Cadence Design Systems Trading Down 2.4 %

Shares of Cadence Design Systems stock opened at $293.71 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.24 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $79.96 billion, a P/E ratio of 76.89, a price-to-earnings-growth ratio of 3.66 and a beta of 1.04. Cadence Design Systems, Inc. has a 12-month low of $194.01 and a 12-month high of $327.36. The company has a 50-day simple moving average of $306.58 and a 200 day simple moving average of $279.35.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, February 12th. The software maker reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.05. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Cadence Design Systems had a net margin of 25.46% and a return on equity of 35.57%. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 EPS. Research analysts expect that Cadence Design Systems, Inc. will post 4.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CDNS shares. Rosenblatt Securities cut shares of Cadence Design Systems from a “buy” rating to a “neutral” rating and increased their price objective for the company from $265.00 to $280.00 in a research note on Tuesday, February 13th. Morgan Stanley upgraded shares of Cadence Design Systems from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $260.00 to $350.00 in a research note on Wednesday, February 14th. StockNews.com cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Tuesday. Piper Sandler started coverage on shares of Cadence Design Systems in a research note on Thursday, April 4th. They issued a “neutral” rating and a $334.00 price objective for the company. Finally, Stifel Nicolaus increased their target price on shares of Cadence Design Systems from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $316.10.

Institutional Investors Weigh In On Cadence Design Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDNS. OFI Invest Asset Management bought a new position in shares of Cadence Design Systems in the 3rd quarter valued at about $26,000. Valley National Advisers Inc. boosted its stake in shares of Cadence Design Systems by 90.4% in the 4th quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock valued at $26,000 after purchasing an additional 47 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of Cadence Design Systems by 66.1% in the 4th quarter. Harbour Investments Inc. now owns 98 shares of the software maker’s stock valued at $27,000 after purchasing an additional 39 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of Cadence Design Systems in the 4th quarter valued at about $28,000. Finally, Quarry LP boosted its stake in shares of Cadence Design Systems by 550.0% in the 4th quarter. Quarry LP now owns 104 shares of the software maker’s stock valued at $28,000 after purchasing an additional 88 shares during the last quarter. 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.