On December 19, 2023, Vincentelli Sangiovanni, a director at Cadence Design Systems Inc (CDNS, Financial), executed a sale of 6,000 shares of the company, according to a SEC Filing. This transaction was made public through an SEC filing on the same day.
Cadence Design Systems Inc is a technology company that provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company's products are used to design and develop complex semiconductor devices and systems, including smartphones, data center infrastructure, automotive electronics, and Internet of Things (IoT) devices.
Over the past year, the insider has sold a total of 28,800 shares and has not made any purchases of the company's stock. This latest transaction continues a pattern of sales by the insider, with no recorded insider buys over the same period.
The insider transaction history for Cadence Design Systems Inc shows a total of 61 insider sells and no insider buys over the past year, indicating a trend of insider sales.
On the day of the insider's recent sale, shares of Cadence Design Systems Inc were trading at $275, giving the company a market cap of $74.972 billion. The price-earnings ratio of the stock stands at 78.51, which is above both the industry median of 26.79 and the company's historical median price-earnings ratio.
According to the GuruFocus Value chart, with a stock price of $275 and a GF Value of $221.37, Cadence Design Systems Inc has a price-to-GF-Value ratio of 1.24, categorizing the stock as Modestly Overvalued.
The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates provided by Morningstar analysts.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
