Director Vincentelli Sangiovanni Sells 4,500 Shares of Cadence Design Systems Inc
Vincentelli Sangiovanni, a director at Cadence Design Systems Inc (NASDAQ:CDNS), has sold 4,500 shares of the company on January 24, 2024, according to a recent SEC Filing. This transaction has been part of a series of sales by the insider over the past year, totaling 44,800 shares, with no recorded purchases in the same period.
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 engineering services, which are used to design and develop complex semiconductor devices and electronics systems.
The insider transaction history for Cadence Design Systems Inc shows a pattern of selling activity from insiders. Over the past year, there have been no insider buys but a total of 65 insider sells.
On the date of the insider's recent sale, shares of Cadence Design Systems Inc were trading at $300, giving the company a market cap of $79,085.703 billion. The price-earnings ratio of the stock stands at 82.82, which is above both the industry median of 27.01 and the company's historical median price-earnings ratio.
The stock's valuation, when compared to the GuruFocus Value (GF Value) of $224.29, indicates that Cadence Design Systems Inc is currently trading at a price-to-GF-Value ratio of 1.34, suggesting that the stock is modestly overvalued.
The GF Value is determined by 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.
The insider trend image above reflects the recent selling activity by insiders at Cadence Design Systems Inc.
The GF Value image provides a visual representation of the stock's current valuation in relation to its intrinsic value estimate according to GuruFocus.
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.
