On June 11, 2024, Paul Cunningham, Sr. Vice President of Cadence Design Systems Inc (CDNS, Financial), sold 650 shares of the company. The transaction was reported in a recent SEC Filing. Following this sale, the insider now owns 66,494 shares of the company.
Cadence Design Systems Inc, headquartered in San Jose, California, is a leader in electronic design automation (EDA) and semiconductor IP. The company develops software, hardware, and intellectual property that automates the design and verification of integrated circuits or larger chip systems.
Over the past year, Paul Cunningham has sold a total of 11,650 shares and has not made any purchases of the company's stock. This recent transaction is part of a broader trend observed at Cadence Design Systems Inc, where there have been 61 insider sells and no insider buys over the past year.
Shares of Cadence Design Systems Inc were trading at $295 on the day of the transaction. The company has a market cap of approximately $83.71 billion. The price-earnings ratio stands at 80.09, significantly above both the industry median of 26.465 and the company's historical median.
The stock's valuation metrics show a GF Value of $244.10, indicating that with a current price of $295, Cadence Design Systems Inc is modestly overvalued with a price-to-GF-Value ratio of 1.21.
The GF Value is calculated considering historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This insider sale could be of interest to investors tracking insider behaviors and company valuation metrics to inform their investment decisions in the technology and semiconductor sectors.
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.
