Yahoo Finance Insider Sale at Cadence Design Systems Inc (CDNS)
On May 1, 2024, Paul Cunningham, Senior Vice President of Cadence Design Systems Inc (NASDAQ:CDNS), sold 1,000 shares of the company. The transaction was filed with the SEC and can be viewed in detail here.
Cadence Design Systems Inc (NASDAQ:CDNS) specializes in electronic design automation (EDA) software and engineering services. The company's products are used to design and test integrated circuits, as well as to design printed circuit boards.
Over the past year, the insider has sold a total of 12,000 shares and has not made any purchases. This recent sale is part of a broader trend at Cadence Design Systems Inc, where there have been 62 insider sales and no insider buys over the past year.
On the date of the latest sale, shares of Cadence Design Systems Inc were priced at $275.36, resulting in a market cap of approximately $76.64 billion. The price-earnings ratio of the company stands at 73.34, significantly above both the industry median of 27.45 and the company's historical median.
According to the GF Value, the intrinsic value of Cadence Design Systems Inc is estimated at $238.44 per share, making the stock modestly overvalued with a price-to-GF-Value ratio of 1.15.
The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates provided by Morningstar analysts.
This insider sale might interest investors tracking insider behaviors as an indicator of the company's future performance and valuation alignment.
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.
