Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham Sells 650 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 650 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $292.32, for a total value of $190,008.00. Following the transaction, the vice president now owns 58,773 shares in the company, valued at $17,180,523.36. This trade represents a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Thursday, January 2nd, Paul Cunningham sold 650 shares of Cadence Design Systems stock. The stock was sold at an average price of $304.84, for a total value of $198,146.00.
• On Monday, December 2nd, Paul Cunningham sold 650 shares of Cadence Design Systems stock. The stock was sold at an average price of $306.19, for a total transaction of $199,023.50.

Cadence Design Systems Trading Up 0.1 %

Shares of CDNS opened at $302.91 on Friday. Cadence Design Systems, Inc. has a 1-year low of $241.29 and a 1-year high of $328.99. The firm has a market capitalization of $83.08 billion, a price-to-earnings ratio of 79.50, a PEG ratio of 3.42 and a beta of 1.03. The firm’s 50-day moving average price is $304.77 and its 200-day moving average price is $284.80. The company has a current ratio of 2.45, a quick ratio of 2.27 and a debt-to-equity ratio of 0.54.

Institutional Trading of Cadence Design Systems

Several large investors have recently bought and sold shares of CDNS. State Street Corp lifted its stake in shares of Cadence Design Systems by 0.5% in the 3rd quarter. State Street Corp now owns 11,922,747 shares of the software maker’s stock valued at $3,231,422,000 after purchasing an additional 60,490 shares during the period. Jennison Associates LLC raised its holdings in Cadence Design Systems by 5.3% in the fourth quarter. Jennison Associates LLC now owns 8,010,251 shares of the software maker’s stock worth $2,406,760,000 after purchasing an additional 404,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Cadence Design Systems by 0.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,988,851 shares of the software maker’s stock valued at $1,081,098,000 after buying an additional 37,452 shares during the period. Nordea Investment Management AB grew its position in shares of Cadence Design Systems by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 2,933,392 shares of the software maker’s stock worth $885,356,000 after buying an additional 178,212 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Cadence Design Systems by 26.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,767,965 shares of the software maker’s stock worth $689,472,000 after acquiring an additional 572,251 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Needham & Company LLC reduced their target price on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Redburn Atlantic began coverage on Cadence Design Systems in a report on Monday, January 13th. They issued a “buy” rating and a $350.00 price objective on the stock. Wells Fargo & Company started coverage on Cadence Design Systems in a report on Friday, November 22nd. They set an “overweight” rating and a $350.00 target price for the company. Berenberg Bank started coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price target on the stock. Finally, Mizuho increased their price objective on Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus price target of $329.50.

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.