Paul Cunningham sells 1,000 shares of Cadence Design Systems, Inc. (NASDAQ: CDNS)

0

Cadence Design Systems, Inc. (NASDAQ: CDNS) Vice President Paul Cunningham sold 1,000 shares of the company in a trade that took place on Wednesday, January 19. The stock was sold at an average price of $154.40, for a total transaction of $154,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website.

Paul Cunningham also recently made the following trade(s):

  • On Wednesday, December 22, Paul Cunningham sold 1,000 shares of Cadence Design Systems. The stock was sold at an average price of $182.92, for a total transaction of $182,920.00.
  • On Monday, December 6, Paul Cunningham sold 1,000 shares of Cadence Design Systems. The stock was sold at an average price of $177.87, for a total transaction of $177,870.00.

Cadence Design Systems stock traded at $2.01 midday Friday, hitting $148.30. 2,090,348 shares of the company were traded, against an average volume of 1,619,854. The company has a market capitalization of $41.10 billion, a price/earnings ratio of 60.61, a price/earnings ratio of growth of 2.95 and a beta of 1.07. The company has a 50-day moving average of $178.54 and a two-hundred-day moving average of $164.11. Cadence Design Systems, Inc. has a 12-month low of $118.11 and a 12-month high of $192.70. The company has a debt ratio of 0.13, a current ratio of 1.70 and a quick ratio of 1.59.

(A d)

There are not many days left on the calendar…and yet the global semiconductor market has reached $466.2 billion – despite the pandemic.

Even better, the chip shortage has created huge opportunities for recurring hits.

These four tech companies are well positioned to take advantage of this rapidly growing demand.

Cadence Design Systems (NASDAQ: CDNS) last released its quarterly earnings data on Sunday, October 24. The software maker reported earnings per share of $0.80 for the quarter, beating the Zacks consensus estimate of $0.75 by $0.05. The company posted revenue of $750.90 million for the quarter, versus a consensus estimate of $741.84 million. Cadence Design Systems posted a net margin of 23.30% and a return on equity of 28.98%. The company’s revenue for the quarter increased by 12.6% compared to the same quarter last year. In the same quarter a year earlier, the company earned $0.58 per share. As a group, stock analysts expect Cadence Design Systems, Inc. to post EPS of 2.6 for the current year.

A number of institutional investors and hedge funds have recently increased or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. increased its position in Cadence Design Systems by 0.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 20,738 shares of the software maker worth $3,141,000 after acquiring 59 additional shares during the period. Boston Private Wealth LLC increased its position in Cadence Design Systems by 1.7% in the third quarter. Boston Private Wealth LLC now owns 3,566 shares of the software maker worth $539,000 after acquiring 61 additional shares during the period. Sheaff Brock Investment Advisors LLC increased its position in Cadence Design Systems by 0.6% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 11,211 shares of the software maker worth $1,698,000 after acquiring 66 additional shares during the period. Outlook Wealth Advisors LLC increased its position in Cadence Design Systems by 1.2% in the third quarter. Outlook Wealth Advisors LLC now owns 5,642 shares of the software maker worth $854,000 after acquiring 69 additional shares during the period. Finally, FinTrust Capital Advisors LLC increased its position in Cadence Design Systems by 19.8% in the third quarter. FinTrust Capital Advisors LLC now owns 430 shares of the software maker worth $65,000 after acquiring 71 additional shares during the period. Institutional investors and hedge funds hold 83.47% of the company’s shares.

Several research analysts have recently published reports on CDNS shares. JPMorgan Chase & Co. cut shares of Cadence Design Systems from an “overweight” rating to a “neutral” rating and set a target price of $185.00 for the stock. in a report on Tuesday, December 14. Bank of America raised its price target on shares of Cadence Design Systems from $160.00 to $180.00 and gave the stock an “underperforming” rating in a Monday, January 10, report. Zacks Investment Research cut Cadence Design Systems stock from a “buy” rating to a “hold” rating and set a price target of $196.00 for the stock. in a report on Wednesday, November 17. Robert W. Baird raised his price target on Cadence Design Systems stock from $168.00 to $190.00 and gave the company an “outperform” rating in a Tuesday, October 26 report. Finally, Needham & Company LLC raised its price target on Cadence Design Systems stock from $183.00 to $185.00 and gave the company a “buy” rating in a Tuesday, October 26 report. One research analyst rated the stock with a sell rating, four gave the company’s stock a hold rating and nine gave the company’s stock a buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $179.07.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc engages 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 intellectual property, and design intellectual property. The company was founded by Alberto Sangiovanni-Vincentelli, Gudmundur A.

Recommended story: Is it better to buy a fund with a higher or lower NAV?

Insider buying and selling by quarter for Cadence Design Systems (NASDAQ: CDNS)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Cadence Design Systems right now?

Before you consider Cadence Design Systems, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and Cadence Design Systems didn’t make the list.

Although Cadence Design Systems currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

Share.

Comments are closed.