Cadence Design Systems, Inc. (CDNS) Insider Thomas P. Beckley Sells 43,469 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNS) insider Thomas P. Beckley sold 43,469 shares of Cadence Design Systems stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $44.09, for a total value of $1,916,548.21. Following the transaction, the insider now owns 225,863 shares in the company, valued at $9,958,299.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Cadence Design Systems, Inc. (CDNS) opened at $44.67 on Tuesday. Cadence Design Systems, Inc. has a 52-week low of $24.15 and a 52-week high of $44.69. The company has a market capitalization of $12,435.13, a PE ratio of 47.35, a PEG ratio of 3.47 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.79 and a quick ratio of 1.72.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Thursday, October 26th. The software maker reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Cadence Design Systems had a return on equity of 29.00% and a net margin of 13.45%. The business had revenue of $485.40 million for the quarter, compared to the consensus estimate of $481.10 million. During the same period in the previous year, the business earned $0.30 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. sell-side analysts predict that Cadence Design Systems, Inc. will post 1.06 EPS for the current fiscal year.

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CDNS has been the topic of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, October 29th. Zacks Investment Research upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Thursday, July 27th. BidaskClub downgraded Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Bank of America Corporation lifted their target price on Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $46.00 target price on shares of Cadence Design Systems in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Cadence Design Systems presently has a consensus rating of “Buy” and an average target price of $40.60.

Institutional investors have recently made changes to their positions in the company. Creative Planning lifted its position in shares of Cadence Design Systems by 242.2% in the second quarter. Creative Planning now owns 3,282 shares of the software maker’s stock valued at $110,000 after acquiring an additional 2,323 shares in the last quarter. Advisor Group Inc. lifted its position in shares of Cadence Design Systems by 151.4% in the third quarter. Advisor Group Inc. now owns 4,160 shares of the software maker’s stock worth $165,000 after buying an additional 2,505 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Cadence Design Systems in the third quarter worth about $170,000. Commonwealth Bank of Australia lifted its position in shares of Cadence Design Systems by 36.6% in the second quarter. Commonwealth Bank of Australia now owns 4,852 shares of the software maker’s stock worth $161,000 after buying an additional 1,300 shares in the last quarter. Finally, Parkwood LLC purchased a new stake in shares of Cadence Design Systems in the third quarter worth about $201,000. Institutional investors and hedge funds own 84.15% of the company’s stock.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).

Insider Buying and Selling by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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