Cadence Design Systems, Inc. (NASDAQ: CDNS) CFO John M. Wall sold 5,233 shares of Cadence Design Systems in a trade on Wednesday, December 1. The stock was sold for an average price of $ 179.98, for a total trade of $ 941,835.34. The sale was disclosed in a document filed with the SEC, which is available at this link.
CDNS stock traded down $ 6.79 in Friday’s session, reaching $ 177.87. 2,332,194 shares of the company were traded, for an average volume of 1,443,924. The company has a market capitalization of $ 49.30 billion, a P / E ratio of 71.72, a PEG ratio of 3. 77 and a beta of 1.07. Cadence Design Systems, Inc. has a 52 week low of $ 113.80 and a 52 week high of $ 190.09. The stock’s 50-day moving average price is $ 169.25, and its 200-day moving average price is $ 152.95. The company has a debt to equity ratio of 0.13, a quick ratio of 1.59, and a current ratio of 1.70.
Cadence Design Systems (NASDAQ: CDNS) last released its quarterly earnings data on Sunday, October 24. The software maker reported EPS of $ 0.80 for the quarter, beating analyst consensus estimates of $ 0.75 by $ 0.05. Cadence Design Systems had a net margin of 23.30% and a return on equity of 28.98%. The company posted revenue of $ 750.90 million for the quarter, compared to a consensus estimate of $ 741.84 million. In the same quarter of the previous year, the company achieved earnings per share of $ 0.58. The company’s revenue grew 12.6% year-over-year. As a group, equity research analysts predict Cadence Design Systems, Inc. will post 2.6 EPS for the current year.
Hedge funds and other institutional investors have recently changed their positions in the company. Geneos Wealth Management Inc. purchased a new equity interest in Cadence Design Systems in the first quarter valued at approximately $ 27,000. Jacobi Capital Management LLC purchased a new equity stake in Cadence Design Systems in the third quarter valued at approximately $ 27,000. Dark Forest Capital Management LP purchased a new equity stake in Cadence Design Systems in the second quarter valued at approximately $ 28,000. Financial Management Professionals Inc. increased its stake in the shares of Cadence Design Systems by 1,088.2% in the third quarter. Financial Management Professionals Inc. now owns 202 shares of the software maker valued at $ 31,000 after purchasing 185 additional shares in the last quarter. Finally, Bell Investment Advisors Inc purchased a new stake in Cadence Design Systems shares in the third quarter valued at approximately $ 35,000. 83.00% of the shares are currently held by institutional investors.
CDNS has been the subject of several research analyst reports. KeyCorp raised its price target for Cadence Design Systems stock from $ 166.00 to $ 186.00 and rated the stock “overweight” in a Tuesday October 26th research note. Rosenblatt Securities began covering shares of Cadence Design Systems in a research note on Friday, September 17. They issued a âbuyâ note and a target price of $ 173.00 on the stock. Robert W. Baird raised his Cadence Design Systems stock price target from $ 168.00 to $ 190.00 and gave the company an “outperformance” rating in a research note on Tuesday, October 26. Credit Suisse Group raised its price target for Cadence Design Systems shares from $ 155.00 to $ 175.00 and assigned the company a “neutral” rating in a research note on Tuesday, October 26. Finally, Zacks Investment Research downgraded Cadence Design Systems shares from a âbuyâ rating to a âholdâ rating and set a target price of $ 196.00 on the stock. in a research note on Wednesday, November 17. One investment analyst rated the stock with a sell rating, three assigned a conservation rating, and ten assigned a buy rating to the stock. According to MarketBeat, Cadence Design Systems currently has a consensus rating of âBuyâ and an average target price of $ 172.15.
Cadence Design Systems Company Profile
Cadence Design Systems, Inc. is engaged in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IPs and design IPs. The company was founded by Alberto Sangiovanni-Vincentelli, Gudmundur A.
Further reading: What is the impact of entry charges on an investment?
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [emailÂ protected]
Should you invest $ 1,000 in Cadence Design Systems now?
Before you consider Cadence Design Systems, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts are quietly asking their clients to buy now before the broader market takes hold … and Cadence Design Systems was not on the list.
While Cadence Design Systems currently has a âBuyâ rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here