GuruFocus - On July 15, 2024, Vincentelli Sangiovanni, a Director at Cadence Design (NASDAQ:CDNS) Systems Inc (NASDAQ:CDNS), sold 1,500 shares of the company. The transaction was executed at a price of $314.57 per share, as detailed in the SEC Filing. Following this sale, the insider now owns 46,551 shares of Cadence Design Systems Inc.
Cadence Design Systems Inc specializes in electronic design automation (EDA) software and engineering services. The company's products are used to design and test integrated circuits, printed circuit boards, and other electronic systems.
Over the past year, Vincentelli Sangiovanni has sold a total of 43,800 shares and has not made any purchases of the company's stock. This recent transaction is part of a broader trend observed at Cadence Design Systems Inc, where there have been 63 insider sells and no insider buys over the past year.
The stock of Cadence Design Systems Inc was trading at $314.57 on the day of the sale, giving the company a market cap of $78.50 billion. This valuation reflects a price-earnings ratio of 75.03, which is significantly higher than both the industry median of 27.215 and the company's historical median.
According to the GF Value, the intrinsic value of Cadence Design Systems Inc is estimated at $247.74 per share, making the stock modestly overvalued with a price-to-GF-Value ratio of 1.27.
This sale by the insider might be of interest to investors tracking insider behaviors and company valuation metrics, particularly considering the company's current valuation levels and the ongoing trends in insider transactions.
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 content was originally published on Gurufocus.com
