Nucor earnings beat by $0.08, revenue fell short of estimates
Karna Nisewaner, Senior Vice President and General Counsel at Cadence Design Systems Inc. (NASDAQ:CDNS), recently executed a significant stock transaction. According to a recent SEC filing, Nisewaner sold 571 shares of Cadence Design Systems common stock on February 18, 2025, at an average price of $296.10 per share, totaling approximately $169,073. The transaction comes as the stock, currently trading at $270.23, has experienced an 8.46% decline over the past week. InvestingPro analysis indicates the stock is currently overvalued, with a P/E ratio of 70.2x.
Additionally, the filing notes that 203 shares were withheld to cover tax obligations related to the vesting of a Restricted Stock Award, valued at $60,987, priced at $300.43 per share. Following these transactions, Nisewaner holds 15,364 shares directly in the $74.24 billion market cap company, which maintains impressive gross profit margins of 86.05%.
Notably, the sale was conducted under a Rule 10b5-1 Trading Plan, which was adopted on September 12, 2024. This plan allows insiders to set up a predetermined schedule for selling stocks to avoid concerns about insider trading. For deeper insights into CDNS’s valuation and 15+ additional ProTips, including detailed financial health analysis, visit InvestingPro, where you’ll find comprehensive research reports covering 1,400+ top US stocks.
In other recent news, Cadence Design Systems reported its fourth-quarter 2024 earnings, surpassing expectations with an EPS of $1.88 and revenue of $1.356 billion, slightly above forecasts. Despite these positive results, the company has provided a cautious revenue guidance for 2025, projecting $5.140-$5.220 billion, with no expected growth from the Chinese market. Piper Sandler raised its price target for Cadence Designs to $328, maintaining an Overweight rating, suggesting optimism about growth outside China. KeyBanc reaffirmed its Overweight rating with a $355 target, highlighting the company’s record $6.8 billion backlog, attributing it to strong renewal timing. Loop Capital adjusted its price target to $340 from $360, maintaining a Buy rating, despite noting the company’s fiscal year 2025 guidance fell short of expectations. Rosenblatt increased its price target to $295, keeping a Neutral rating, following Cadence’s strong Q4 performance and acquisition of Secure-IC. These developments reflect a mix of cautious optimism and strategic positioning for Cadence Design Systems in the upcoming fiscal year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.