Cadence Design Systems Inc. [NASDAQ: CDNS] traded at a high on 10/01/20, posting a 1.88 gain after which it closed the day’ session at $108.63.
The results of the trading session contributed to over 1835983 shares changing hands. Over the past one week, the price volatility of Cadence Design Systems Inc. stands at 2.00% while the volatility over the past one month is 3.51%.
The market cap for CDNS stock reached $29.82 billion, with 278.79 million shares outstanding and 274.63 million shares in the current float. Compared to the average trading volume of 1.62M shares, CDNS reached a trading volume of 1835983 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Cadence Design Systems Inc. [CDNS]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CDNS shares is $110.68 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CDNS stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
UBS have made an estimate for Cadence Design Systems Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 27, 2020. The new note on the price target was released on April 22, 2020, representing the official price target for Cadence Design Systems Inc. stock. Previously, the target price had yet another raise to $93, while Robert W. Baird analysts kept a Outperform rating on CDNS stock.
The Average True Range (ATR) for Cadence Design Systems Inc. is set at 3.42, with the Price to Sales ratio for CDNS stock in the period of the last 12 months amounting to 12.24. The Price to Book ratio for the last quarter was 13.17. Price to Free Cash Flow for CDNS in the course of the last twelve months was 38.57 with Quick ratio for the last quarter at 1.40.
How has CDNS stock performed recently?
Cadence Design Systems Inc. [CDNS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.37. With this latest performance, CDNS shares dropped by -4.69% in over the last four-week period, additionally plugging by 64.77% over the last 6 months – not to mention a rise of 69.68% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CDNS stock in for the last two-week period is set at 56.58, with the RSI for the last a single of trading hit 63.16, and the three-weeks RSI is set at 55.30 for Cadence Design Systems Inc. [CDNS]. The present Moving Average for the last 50 days of trading for this stock 106.82, while it was recorded at 106.00 for the last single week of trading, and 85.57 for the last 200 days.
Cadence Design Systems Inc. [CDNS]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Cadence Design Systems Inc. [CDNS] shares currently have an operating margin of +21.42 and a Gross Margin at +88.08. Cadence Design Systems Inc.’s Net Margin is presently recorded at +42.33.
Return on Total Capital for CDNS is now 23.31, given the latest momentum, and Return on Invested Capital for the company is 47.46. Return on Equity for this stock inclined to 58.32, with Return on Assets sitting at 33.95. When it comes to the capital structure of this company, Cadence Design Systems Inc. [CDNS] has a Total Debt to Total Equity ratio set at 21.70. Additionally, CDNS Total Debt to Total Capital is recorded at 17.83, with Total Debt to Total Assets ending up at 13.59. Long-Term Debt to Equity for the company is recorded at 20.49, with the Long-Term Debt to Total Capital now at 16.83.
Reflecting on the efficiency of the workforce at the company, Cadence Design Systems Inc. [CDNS] managed to generate an average of $122,096 per employee. Receivables Turnover for the company is 7.51 with a Total Asset Turnover recorded at a value of 0.80.Cadence Design Systems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.40.
Earnings analysis for Cadence Design Systems Inc. [CDNS]
With the latest financial reports released by the company, Cadence Design Systems Inc. posted 0.54/share EPS, while the average EPS was predicted by analysts to be reported at 0.51/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CDNS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cadence Design Systems Inc. go to 13.70%.
Insider trade positions for Cadence Design Systems Inc. [CDNS]
There are presently around $26,600 million, or 89.80% of CDNS stock, in the hands of institutional investors. The top three institutional holders of CDNS stocks are: VANGUARD GROUP INC with ownership of 33,459,756, which is approximately -2.058% of the company’s market cap and around 0.80% of the total institutional ownership; BLACKROCK INC., holding 30,894,147 shares of the stock with an approximate value of $3.36 billion in CDNS stocks shares; and MASSACHUSETTS FINANCIAL SERVICES CO /MA/, currently with $3.09 billion in CDNS stock with ownership of nearly 7.191% of the company’s market capitalization.
Positions in Cadence Design Systems Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 301 institutional holders increased their position in Cadence Design Systems Inc. [NASDAQ:CDNS] by around 23,529,827 shares. Additionally, 266 investors decreased positions by around 26,194,638 shares, while 66 investors held positions by with 195,147,130 shares. The mentioned changes placed institutional holdings at 244,871,595 shares, according to the latest SEC report filing. CDNS stock had 110 new institutional investments in for a total of 2,345,518 shares, while 43 institutional investors sold positions of 3,639,699 shares during the same period.