On May 1, 2024, Paul Cunningham, Senior Vice President of Cadence Design Systems Inc. (NASDAQ:CDNS) sold 1,000 shares of the company’s stock. The deal was filed with his SEC and you can see the details here.
Cadence Design Systems Inc (NASDAQ:CDNS) specializes in electronic design automation (EDA) software and engineering services. The company’s products are used in printed circuit board design as well as integrated circuit design and testing.
This insider has sold a total of 12,000 shares in the past year, but hasn’t bought any. This recent sale is part of a broader trend for Cadence Design Systems, Inc., with 62 insider sales and no insider purchases over the past year.
On the most recent sale date, Cadence Design Systems Inc.’s stock was priced at $275.36, giving it a market cap of approximately $76.64 billion. The company’s price-to-earnings ratio of 73.34 is significantly higher than both the industry median of 27.45 and the company’s historical median.
According to GF Value, Cadence Design Systems Inc.’s intrinsic value is estimated at $238.44 per share, making the price to GF Value ratio slightly overvalued at 1.15.
GF Value is calculated based on historical trading multiples, GuruFocus adjustment factors, and future performance estimates provided by Morningstar analysts.
This insider sale may be of interest to investors who track insider behavior as an indicator of a company’s future performance and valuation alignment.
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This article first appeared on GuruFocus.