Vincentelli Albert Sangiovanni Sells 1,500 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $309.09, for a total transaction of $463,635.00. Following the transaction, the director now owns 48,051 shares in the company, valued at approximately $14,852,083.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, May 15th, Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock. The stock was sold at an average price of $287.14, for a total transaction of $430,710.00.
• On Monday, April 15th, Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock. The stock was sold at an average price of $308.83, for a total transaction of $463,245.00.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS opened at $326.50 on Thursday. The firm has a market cap of $88.95 billion, a PE ratio of 85.03, a price-to-earnings-growth ratio of 3.94 and a beta of 1.04. The firm’s 50 day simple moving average is $292.41 and its 200-day simple moving average is $291.48. Cadence Design Systems, Inc. has a one year low of $217.77 and a one year high of $327.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.19 and a current ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, April 22nd. The software maker reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.04. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. Cadence Design Systems’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company posted $1.02 earnings per share. As a group, equities analysts predict that Cadence Design Systems, Inc. will post 4.77 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. KeyCorp raised their price target on Cadence Design Systems from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Bank of America boosted their target price on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price target on shares of Cadence Design Systems in a research note on Friday, May 17th. StockNews.com cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Robert W. Baird upped their target price on shares of Cadence Design Systems from $302.00 to $322.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $331.11.

Hedge Funds Weigh In On Cadence Design Systems

Several institutional investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust increased its holdings in Cadence Design Systems by 8.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 514 shares of the software maker’s stock valued at $140,000 after buying an additional 38 shares during the period. Highview Capital Management LLC DE boosted its stake in Cadence Design Systems by 0.8% in the fourth quarter. Highview Capital Management LLC DE now owns 5,180 shares of the software maker’s stock valued at $1,411,000 after acquiring an additional 39 shares in the last quarter. Fiduciary Trust Co boosted its stake in Cadence Design Systems by 0.6% in the fourth quarter. Fiduciary Trust Co now owns 6,730 shares of the software maker’s stock valued at $1,833,000 after acquiring an additional 39 shares in the last quarter. GraniteShares Advisors LLC boosted its stake in Cadence Design Systems by 1.2% in the first quarter. GraniteShares Advisors LLC now owns 3,468 shares of the software maker’s stock valued at $1,080,000 after acquiring an additional 40 shares in the last quarter. Finally, Inspire Advisors LLC boosted its stake in Cadence Design Systems by 1.8% in the first quarter. Inspire Advisors LLC now owns 2,229 shares of the software maker’s stock valued at $694,000 after acquiring an additional 40 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

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.