Cadence Design Systems, Inc. (NASDAQ:CDNS) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $44.67 and last traded at $44.04, with a volume of 2761500 shares trading hands. The stock had previously closed at $43.55.

A number of equities research analysts have issued reports on the stock. DA Davidson upped their price target on shares of Cadence Design Systems to $43.00 and gave the company a “neutral” rating in a report on Monday, October 30th. They noted that the move was a valuation call. BidaskClub upgraded shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, October 29th. Zacks Investment Research cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, Bank of America Corporation increased their target price on shares of Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $40.60.

The company has a current ratio of 1.79, a quick ratio of 1.72 and a debt-to-equity ratio of 0.64. The company has a market cap of $12,435.13, a P/E ratio of 47.35, a price-to-earnings-growth ratio of 3.47 and a beta of 0.94.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Thursday, October 26th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Cadence Design Systems had a net margin of 13.45% and a return on equity of 29.00%. The firm had revenue of $485.40 million during the quarter, compared to analyst estimates of $481.10 million. During the same quarter in the prior year, the business posted $0.30 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. analysts anticipate that Cadence Design Systems, Inc. will post 1.06 earnings per share for the current year.

In related news, CEO Lip Bu Tan sold 100,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $37.18, for a total value of $3,718,000.00. Following the completion of the transaction, the chief executive officer now owns 583,332 shares of the company’s stock, valued at $21,688,283.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas P. Beckley sold 43,469 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $44.09, for a total transaction of $1,916,548.21. Following the completion of the transaction, the insider now directly owns 225,863 shares of the company’s stock, valued at approximately $9,958,299.67. The disclosure for this sale can be found here. Insiders sold 322,255 shares of company stock valued at $12,879,468 in the last three months. Company insiders own 2.55% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning increased its holdings in shares of Cadence Design Systems by 242.2% during the second quarter. Creative Planning now owns 3,282 shares of the software maker’s stock worth $110,000 after buying an additional 2,323 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in shares of Cadence Design Systems by 36.6% during the second quarter. Commonwealth Bank of Australia now owns 4,852 shares of the software maker’s stock worth $161,000 after buying an additional 1,300 shares in the last quarter. Advisor Group Inc. increased its holdings in shares of Cadence Design Systems by 151.4% during the third quarter. Advisor Group Inc. now owns 4,160 shares of the software maker’s stock worth $165,000 after buying an additional 2,505 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Cadence Design Systems during the third quarter worth approximately $170,000. Finally, Parkwood LLC acquired a new stake in shares of Cadence Design Systems during the third quarter worth approximately $201,000. 84.15% of the stock is owned by institutional investors.

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Cadence Design Systems Company Profile

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).

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