The stock is trading at $42.15 which is marginally higher than $39.70, the stock’s 50 day moving average and which is quite a bit higher than the 200 day moving average of $35.89. The 50 day moving average was up $2.45 or +6.16% and the 200 day average moved up $6.26. Trading volume for Cadence Design Systems, Inc. was 1,862K in the last trading session. Shares saw a steep decrease in trading volume of 25.26% under the normal average daily volume.
Investors are feeling more bearish on Cadence Design Systems, Inc. recently as evidenced by the increase in short interest. The stock experienced a rise in short interest between September 15, 2017 and September 29, 2017 of 39.96%. Short interest grew from 4,137,654 to 5,791,127 over that timeframe. Days to cover increased 2.0 to 2.0 and the short interest percentage is 0.02% as of September 29.
Cadence Design Systems, Inc. (NASDAQ:CDNS) has been the object of insider selling activity recently. Lip Bu Tan, President & CEO let go of $4,197,000 worth of shares at an average price of $41.97 on Mon the 16th. That brings the President & CEO’s holdings to $18,186,986 as reported to the SEC. Sr. VP & CFO John M. Wall sold 750 shares at an average price of $40.68 on October 9th. Wall now owns $4,600,583 of stock per an SEC filing yesterday.
Geoffrey G. Ribar, Sr VP reported the sale of 15,000 shares of CDNS stock. The shares were sold on August 28th for an average price of $37.55. Ribar now owns $6,361,458 of the stock per the Form 4 SEC filing.
These firms have modified their investment in CDNS. Shell Asset Management CO grew its position by buying 937 shares an increase of 4.8% from 06/30/2017 to 09/30/2017. Shell Asset Management CO owns 20,539 shares worth $811,000. The value of the position overall is up by 23.6%. Capital One, National Association reduced its holdings by shedding 28,613 shares a decrease of 30.0% in the quarter. Capital One, National Association currently owns 66,802 shares valued at $2,637,000. The total value of its holdings decreased 17.5%.
As of the end of the quarter State Treasurer State Of Michigan had disposed of a total of 30,210 shares trimming its position 26.2%. The value of the company’s investment in Cadence Design Systems, Inc. decreased from $3,858,000 to $3,355,000 a change of $503,000 for the reporting period. As of quarter end Robeco Institutional Asset Management B.v. had bought 27,174 shares growing its holdings by 13.3%. The value in dollars went from $6,838,000 to $9,130,000 increasing 33.5% quarter over quarter.
The P/E ratio is currently 49.01 and the market cap of the company is 11.81B. In the last earnings report the EPS was $0.86 and is projected to be $1.39 for the current year with 280,200,000 shares currently outstanding. Next quarter’s EPS is estimated at $0.39 with next year’s EPS projected to be $1.51.
Cadence Design Systems, Inc., launched on April 8, 1987, provides solutions that enable its customers to design electronic products. The Business’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). The Business’s functional verification products are used to verify that the circuitry or the software designed will perform as intended. Its digital IC design offerings are used to create representations of a digital circuit or an IC that can be verified for correctness prior to implementation. Its custom IC design and verification offerings are used to create schematic and physical representations of circuits down to the transistor level for analog, mixed-signal, custom digital, memory and radio frequency (RF) designs. Its system interconnect and analysis offerings are used to develop printed circuit boards (PCBs) and IC packages. Its design IP offerings consist of functional blocks, which customers integrate into their ICs for the development process. Its product offerings include electronic design automation software, emulation and prototyping hardware, system interconnect and analysis..