07/25/2017 - Cadence Design Systems, Inc. had its "outperform" rating reiterated by analysts at RBC Capital. Credit Suisse Group reaffirmed an outperform rating on shares of Cadence Design Systems in a report on Thursday, August 31st. The stock of Cadence Design Systems Inc (NASDAQ:CDNS) has "Buy" rating given on Tuesday, October 27 by Needham.
07/28/2015 - Cadence Design Systems, Inc. had its "buy" rating reiterated by analysts at Summit Research. This is based on a scale where a 5 would indicate a Strong Buy, a 4 would equal a Moderate Buy, 3 a hold, 2 a moderate sell, and a rating of 1 would indicate a Strong Sell. The company now has an average rating of "Buy" and an average target price of $35.60. Looking at the stock's movement on the chart, Cadence Design Systems, Inc. recorded a 52-week high of $41.13.
The company is so far trading up by 0.93% percent from yesterday's close. The company has a market cap of $11.60 billion, a P/E ratio of 48.13 and a beta of 0.93. The stock closing price is now trading upward to its 50 day moving average with change of 9.54%, escalated to its 20 day moving average with figure of 6.12% and above its 200 day moving average with value 25.71%. The ratio has dropped, as 166 investment managers opened new or increased positions, while 152 sold and reduced positions in Cadence Design Systems Inc.
Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 24th. In the last earnings report the EPS was $0.86 and is estimated to be $1.39 for the current year with 280,200,000 shares now outstanding. The business had revenue of $477 million during the quarter, compared to the consensus estimate of $474.23 million. Cadence Design Systems had a return on equity of 27.81% and a net margin of 12.86%. Market watchers will be closely following company shares into the second half of the year. The software maker reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.02. Next quarter's EPS is forecasted at $0.39 with next year's EPS anticipated to be $1.51.
Checking out some other company technical data, we have noted that Cadence Design Sys (CDNS) now has a 9 day raw stochastic value of 98.63%. This is the signal from the 100-day MA which is used to monitor changes in stock price. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of USA and global copyright & trademark legislation. The original version of this article can be accessed at https://www.dispatchtribunal.com/2017/10/12/cadence-design-systems-inc-cdns-price-target-increased-to-45-00-by-analysts-at-royal-bank-of-canada.html. It dived, as 40 investors sold Cadence Design Systems Inc shares while 112 reduced holdings. They now have a Dollars 39 price target on the stock. Also, CFO John M. Wall sold 750 shares of Cadence Design Systems stock in a transaction dated Monday, October 9th. This value (ranging from 0-100%) shows where the stock price closed relative to the price range over the specified period. Following the completion of the transaction, the chief executive officer now owns 583,332 shares in the company, valued at $20,229,953.76. The disclosure for this sale can be found here. 2,786,023 shares of the company's stock were exchanged.
The consensus analysts recommendation at this point stands at 2.60 on this stock.
Several hedge funds have recently made changes to their positions in the business. Short interest grew 96,612 over that period. The value in dollars went from $6,521,000 to $8,978,000 increasing 37.7% since the last quarter. Moreover, Yorktown And Company has 0.11% invested in Cadence Design Systems Inc (NASDAQ:CDNS). As of quarter end AHL Partners LLP had bought a total of 60,432 shares growing its stake by 29.1%. Over the last quarter, insiders have sold 366,413 shares of company stock valued at $11,884,345.
Cadence Design Systems, Inc. The shares were purchased at an average price of $37.21. The investment managers in our partner's database now hold: 233.59 million shares, down from 235.74 million shares in 2017Q1. Institutional investors own 84.27% of the company's stock.
Cadence Design Systems, Inc., launched on April 8, 1987, provides solutions that enable its customers to design electronic products. The Company's product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).