Cadence Design Systems, Inc. (NASDAQ:CDNS) SVP Karna Nisewaner Sells 600 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNS) SVP Karna Nisewaner sold 600 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total transaction of $165,216.00. Following the completion of the transaction, the senior vice president now directly owns 20,480 shares in the company, valued at $5,639,372.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Karna Nisewaner also recently made the following trade(s):

• On Monday, April 1st, Karna Nisewaner sold 600 shares of Cadence Design Systems stock. The shares were sold at an average price of $310.46, for a total transaction of $186,276.00.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $281.63 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.32 and a quick ratio of 1.19. The firm has a market cap of $76.64 billion, a price-to-earnings ratio of 73.34, a price-to-earnings-growth ratio of 3.25 and a beta of 1.06. The firm’s fifty day moving average price is $302.46 and its 200 day moving average price is $281.91. Cadence Design Systems, Inc. has a 1-year low of $198.92 and a 1-year high of $327.36.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.04. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the firm earned $1.02 earnings per share. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, sell-side analysts expect that Cadence Design Systems, Inc. will post 4.78 EPS for the current year.

Hedge Funds Weigh In On Cadence Design Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in CDNS. Ulland Investment Advisors LLC purchased a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new position in Cadence Design Systems in the third quarter worth $26,000. Valley National Advisers Inc. lifted its holdings in Cadence Design Systems by 90.4% in the fourth quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock valued at $26,000 after acquiring an additional 47 shares during the period. RiverPark Advisors LLC purchased a new stake in shares of Cadence Design Systems during the 1st quarter worth $26,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Cadence Design Systems during the 4th quarter worth $28,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Ratings Changes

CDNS has been the subject of several research reports. Morgan Stanley raised Cadence Design Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $260.00 to $350.00 in a report on Wednesday, February 14th. Stifel Nicolaus increased their price objective 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 raised 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 report on Thursday, April 18th. Wells Fargo & Company upped their price target on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, StockNews.com downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $326.11.

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.