On October 1, 2024, Paul Cunningham, Senior Vice President of Cadence Design Systems Inc (CDNS, Financial), sold 650 shares of the company at a price of $273.44 per share. The transaction was documented in an SEC Filing. Following this sale, the insider now owns 61,761 shares of Cadence Design Systems Inc.
Cadence Design Systems Inc is a leading provider of software, hardware, and semiconductor IP that is used to design integrated circuits, systems on chips, and printed circuit boards. The company's products are essential tools for modern electronics development, used across industries such as telecommunications, consumer electronics, automotive, and aerospace.
Over the past year, Paul Cunningham has sold a total of 10,250 shares and has not made any purchases of the company's stock. This recent transaction is part of a broader trend at Cadence Design Systems Inc, where there have been 54 insider sells and no insider buys over the past year.
The shares of Cadence Design Systems Inc were trading at $273.44 on the day of the sale, giving the company a market cap of approximately $72.78 billion. The company's price-earnings ratio stands at 68.68, which is significantly higher than the industry median of 26.55 and also above the company's historical median.
According to the GF Value, the intrinsic value estimate for Cadence Design Systems Inc is $262.66 per share, making the stock Fairly Valued with a price-to-GF-Value ratio of 1.04. The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates.
This insider selling activity could be of interest to investors monitoring insider behaviors and the valuation levels of Cadence Design Systems Inc, especially considering the company's significant market cap and its position in the technology sector.
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.
