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

Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company's stock in a transaction on Monday, April 15th. The shares were sold at an average price of $308.83, for a total value of $463,245.00. Following the completion of the sale, the director now owns 50,183 shares of the company's stock, valued at $15,498,015.89. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Thursday, March 14th, Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock. The stock was sold at an average price of $309.16, for a total value of $463,740.00.
• On Tuesday, February 6th, Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock. The stock was sold at an average price of $299.42, for a total value of $449,130.00.
• On Wednesday, January 24th, Vincentelli Albert Sangiovanni sold 4,500 shares of Cadence Design Systems stock. The stock was sold at an average price of $300.00, for a total value of $1,350,000.00.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock traded down $7.10 during trading on Wednesday, reaching $293.71. The company's stock had a trading volume of 1,127,023 shares, compared to its average volume of 1,475,820. The business has a 50 day moving average price of $306.73 and a 200-day moving average price of $279.25. The company has a quick ratio of 1.13, a current ratio of 1.24 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $79.96 billion, a P/E ratio of 78.75, a price-to-earnings-growth ratio of 3.66 and a beta of 1.04. Cadence Design Systems, Inc. has a 12-month low of $194.01 and a 12-month high of $327.36.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its earnings results on Monday, February 12th. The software maker reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.05. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. Cadence Design Systems had a return on equity of 35.57% and a net margin of 25.46%. Cadence Design Systems's quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. As a group, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 4.82 EPS for the current year.

Institutional Trading of Cadence Design Systems

Institutional investors have recently bought and sold shares of the company. New Mexico Educational Retirement Board raised its holdings in shares of Cadence Design Systems by 13.4% in the first quarter. New Mexico Educational Retirement Board now owns 16,100 shares of the software maker's stock worth $5,012,000 after acquiring an additional 1,900 shares during the last quarter. Vicus Capital acquired a new position in shares of Cadence Design Systems in the first quarter worth $365,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Cadence Design Systems by 27.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 3,845 shares of the software maker's stock worth $1,197,000 after acquiring an additional 827 shares during the last quarter. KRS Capital Management LLC raised its holdings in shares of Cadence Design Systems by 9.8% in the first quarter. KRS Capital Management LLC now owns 2,076 shares of the software maker's stock worth $646,000 after acquiring an additional 186 shares during the last quarter. Finally, Financial Management Professionals Inc. raised its holdings in shares of Cadence Design Systems by 56.9% in the first quarter. Financial Management Professionals Inc. now owns 193 shares of the software maker's stock worth $60,000 after acquiring an additional 70 shares during the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Stifel Nicolaus raised their target price on Cadence Design Systems from $300.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday, February 13th. Robert W. Baird increased their price target on Cadence Design Systems from $289.00 to $302.00 and gave the company an "outperform" rating in a research report on Tuesday, February 13th. Needham & Company LLC reissued a "buy" rating and set a $320.00 target price on shares of Cadence Design Systems in a research report on Wednesday, March 6th. Rosenblatt Securities lowered Cadence Design Systems from a "buy" rating to a "neutral" rating and raised their target price for the stock from $265.00 to $280.00 in a research report on Tuesday, February 13th. Finally, Morgan Stanley raised Cadence Design Systems from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $260.00 to $350.00 in a research report on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Cadence Design Systems presently has an average rating of "Moderate Buy" and an average price target of $316.10.

About Cadence Design Systems

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.

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