Cadence Design Systems (CDNS) Set to Announce Earnings on Monday

Cadence Design Systems (NASDAQ:CDNS) is set to issue its quarterly earnings data after the market closes on Monday, October 28th. Analysts expect the company to announce earnings of $1.44 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Cadence Design Systems Trading Up 2.4 %

Shares of NASDAQ CDNS opened at $257.30 on Friday. The company’s 50 day simple moving average is $267.42 and its 200 day simple moving average is $282.89. Cadence Design Systems has a fifty-two week low of $228.66 and a fifty-two week high of $328.99. The firm has a market capitalization of $70.09 billion, a P/E ratio of 67.01, a P/E/G ratio of 3.37 and a beta of 1.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CDNS. Robert W. Baird cut their target price on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a report on Tuesday, July 23rd. Berenberg Bank began coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 23rd. Oppenheimer began coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 target price on the stock. Finally, Piper Sandler upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price on the stock in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $323.42.

Insider Transactions at Cadence Design Systems

In other news, VP Paul Cunningham sold 650 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total transaction of $173,056.00. Following the completion of the sale, the vice president now owns 65,194 shares of the company’s stock, valued at $17,357,250.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Chin-Chi Teng sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $276.36, for a total value of $2,763,600.00. Following the completion of the transaction, the vice president now owns 95,408 shares of the company’s stock, valued at approximately $26,366,954.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total transaction of $173,056.00. Following the completion of the transaction, the vice president now directly owns 65,194 shares of the company’s stock, valued at approximately $17,357,250.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,347 shares of company stock valued at $7,728,272 over the last quarter. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Company Profile

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.