Director Vincentelli Sangiovanni Sells 1,500 Shares of Cadence Design Systems Inc (CDNS)
Director Vincentelli Sangiovanni sold 1,500 shares of Cadence Design Systems Inc (NASDAQ:CDNS) on February 6, 2024, according to a recent SEC filing. The transaction was executed at an average price of $299.42 per share, resulting in a total sale amount of $449,130.Cadence Design Systems Inc is a leading provider of system design tools, software, IP, and services. The company is known for its electronic design automation (EDA) software and hardware, which are used to design and engineer electronic systems and semiconductors.Over the past year, the insider has sold a total of 46,300 shares of Cadence Design Systems Inc and has not made any purchases of the stock.
The insider transaction history for Cadence Design Systems Inc indicates a trend of insider sales, with 66 insider sells and no insider buys over the past year.Shares of Cadence Design Systems Inc were trading at $299.42 on the day of the insider's recent sale, giving the company a market capitalization of $83.62 billion. The price-earnings ratio stands at 87.57, which is above both the industry median of 26.68 and the company's historical median price-earnings ratio.
With the current share price and a GuruFocus Value (GF Value) of $225.31, Cadence Design Systems Inc has a price-to-GF-Value ratio of 1.33, indicating that the stock is significantly overvalued based on its GF Value. The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from 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.
This article first appeared on GuruFocus.
