Cadence Design Systems Inc. (NASDAQ:CDNS)’s share price hit a new 52-week high on Tuesday . The company traded as high as $25.68 and last traded at $25.57, with a volume of 1,114,603 shares traded. The stock had previously closed at $25.38.

A number of brokerages have recently weighed in on CDNS. Zacks Investment Research raised Cadence Design Systems from a “sell” rating to a “hold” rating in a research report on Monday, April 25th. Royal Bank Of Canada began coverage on Cadence Design Systems in a research report on Monday, June 6th. They set an “outperform” rating and a $29.00 target price on the stock. Needham & Company LLC lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, June 14th. They noted that the move was a valuation call. Topeka Capital Markets upped their target price on Cadence Design Systems from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, April 26th. Finally, DA Davidson lowered Cadence Design Systems from a “buy” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research report on Wednesday, April 6th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $25.55.

The stock’s 50-day moving average price is $24.58 and its 200 day moving average price is $22.59. The firm has a market capitalization of $7.67 billion and a PE ratio of 29.63.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 25th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. During the same period last year, the company earned $0.23 EPS. The business earned $448 million during the quarter, compared to the consensus estimate of $444.73 million. The business’s revenue was up 8.9% on a year-over-year basis. Analysts expect that Cadence Design Systems Inc. will post $1.21 earnings per share for the current fiscal year.

In other news, CEO Lip Bu Tan sold 150,000 shares of the company’s stock in a transaction dated Friday, April 15th. The stock was sold at an average price of $23.40, for a total value of $3,510,000.00. Following the completion of the transaction, the chief executive officer now owns 637,498 shares of the company’s stock, valued at $14,917,453.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP James J. Cowie sold 3,130 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $23.33, for a total value of $73,022.90. Following the completion of the transaction, the vice president now directly owns 99,166 shares of the company’s stock, valued at approximately $2,313,542.78. The disclosure for this sale can be found here.

Several institutional investors have added to or reduced their stakes in CDNS. Globeflex Capital L P acquired a new position in Cadence Design Systems during the fourth quarter worth $1,108,000. Advisors Asset Management Inc. raised its position in Cadence Design Systems by 189.4% in the fourth quarter. Advisors Asset Management Inc. now owns 59,000 shares of the company’s stock worth $1,228,000 after buying an additional 38,613 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Cadence Design Systems by 2.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 86,252 shares of the company’s stock worth $1,795,000 after buying an additional 2,134 shares during the period. Trexquant Investment LP acquired a new position in Cadence Design Systems during the fourth quarter worth $2,077,000. Finally, Marshall Wace LLP acquired a new position in Cadence Design Systems during the fourth quarter worth $2,243,000.

Cadence Design Systems, Inc (Cadence) develops system design enablement (SDE) solutions that are used to design whole electronics systems and integrated circuits (ICs) and electronic devices. The Company’s SDE product offerings include electronic design automation (EDA), software, emulation and prototyping hardware, and two categories of intellectual property (IP) verification IP (VIP) and design IP.

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