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

Cadence Design Systems, Inc. (NASDAQ:CDNS) SVP Karna Nisewaner sold 600 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total transaction of $165,216.00. Following the sale, the senior vice president now owns 20,480 shares of the company’s stock, valued at approximately $5,639,372.80. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, April 1st, Karna Nisewaner sold 600 shares of Cadence Design Systems stock. The shares were sold at an average price of $310.46, for a total transaction of $186,276.00.

Cadence Design Systems Trading Up 1.9 %

NASDAQ CDNS opened at $281.63 on Friday. The stock has a market capitalization of $76.64 billion, a price-to-earnings ratio of 73.34, a PEG ratio of 3.25 and a beta of 1.06. The business’s fifty day moving average is $302.02 and its 200-day moving average is $282.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.32 and a quick ratio of 1.19. Cadence Design Systems, Inc. has a one year low of $198.92 and a one year high of $327.36.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.04. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the company earned $1.02 earnings per share. The company’s quarterly revenue was down 1.2% on a year-over-year basis. Equities research analysts predict that Cadence Design Systems, Inc. will post 4.78 EPS for the current year.

Hedge Funds Weigh In On Cadence Design Systems

Several institutional investors and hedge funds have recently bought and sold shares of the company. Csenge Advisory Group increased its holdings in Cadence Design Systems by 3.8% in the 1st quarter. Csenge Advisory Group now owns 3,137 shares of the software maker’s stock worth $976,000 after acquiring an additional 116 shares during the last quarter. Signaturefd LLC increased its stake in shares of Cadence Design Systems by 4.3% in the first quarter. Signaturefd LLC now owns 11,020 shares of the software maker’s stock worth $3,430,000 after purchasing an additional 459 shares in the last quarter. Catalina Capital Group LLC bought a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $309,000. TFB Advisors LLC bought a new position in Cadence Design Systems in the 1st quarter worth approximately $330,000. Finally, Mediolanum International Funds Ltd purchased a new position in Cadence Design Systems in the 1st quarter valued at approximately $6,774,000. 84.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price target on shares of Cadence Design Systems in a research report on Friday, April 19th. Piper Sandler cut their target price on Cadence Design Systems from $334.00 to $318.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 23rd. StockNews.com lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a report on Monday, April 22nd. Finally, Wells Fargo & Company increased their target price 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. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.11.

Cadence Design Systems Company Profile

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.