Cadence Design Systems Inc (NASDAQ:CDNS) Director John B. Shoven sold 50,000 shares of Cadence Design Systems stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $45.00, for a total value of $2,250,000.00. Following the completion of the sale, the director now directly owns 196,189 shares in the company, valued at approximately $8,828,505. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Cadence Design Systems Inc (CDNS) opened at $44.84 on Thursday. Cadence Design Systems Inc has a twelve month low of $25.42 and a twelve month high of $45.64. The firm has a market capitalization of $12,670.00, a P/E ratio of 48.74, a price-to-earnings-growth ratio of 3.61 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.79 and a quick ratio of 1.72.
Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Thursday, October 26th. The software maker reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The business had revenue of $485.40 million for the quarter, compared to analyst estimates of $481.10 million. Cadence Design Systems had a return on equity of 29.00% and a net margin of 13.45%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 EPS. equities research analysts forecast that Cadence Design Systems Inc will post 1.06 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the company. QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in shares of Cadence Design Systems during the 4th quarter worth approximately $611,000. Parametric Portfolio Associates LLC boosted its stake in shares of Cadence Design Systems by 4.1% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 706,097 shares of the software maker’s stock worth $27,870,000 after acquiring an additional 27,800 shares in the last quarter. AXA boosted its stake in shares of Cadence Design Systems by 15.9% during the 3rd quarter. AXA now owns 1,687,367 shares of the software maker’s stock worth $66,600,000 after acquiring an additional 231,832 shares in the last quarter. New Mexico Educational Retirement Board purchased a new stake in shares of Cadence Design Systems during the 3rd quarter worth approximately $1,022,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Cadence Design Systems by 35.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 173,384 shares of the software maker’s stock worth $6,843,000 after acquiring an additional 45,590 shares in the last quarter. 84.63% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This article was originally posted by Community Financial News and is owned by of Community Financial News. If you are viewing this article on another publication, it was copied illegally and republished in violation of United States and international copyright legislation. The original version of this article can be read at https://www.com-unik.info/2018/01/11/john-b-shoven-sells-50000-shares-of-cadence-design-systems-inc-cdns-stock.html.
About Cadence Design Systems
Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).
What are top analysts saying about Cadence Design Systems? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Cadence Design Systems and related companies.