Cadence Design Systems Inc. [NASDAQ: CDNS] closed the trading session at $132.75 on 04/27/21. The day’s price range saw the stock hit a low of $130.45, while the highest price level was $136.9103. The company report on April 27, 2021 that Cadence Collaborates with Arm to Accelerate Hyperscale Computing and 5G Communications SoC Development.
Latest collaboration builds upon previous successes where leading server customers reached silicon on 7nm using the previous-generation Arm Neoverse N1 platform and Cadence tools.
The stocks have a year to date performance of -2.70 percent and weekly performance of -5.81 percent. The stock has been moved at 18.47 percent over the last six months. The stock has performed 0.13 percent around the most recent 30 days and changed -0.81 percent over the most recent 3-months.
If compared to the average trading volume of 1.84M shares, CDNS reached to a volume of 5994629 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $150.13 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.
BofA Securities have made an estimate for Cadence Design Systems Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 11, 2021. The new note on the price target was released on January 05, 2021, representing the official price target for Cadence Design Systems Inc. stock. Previously, the target price had yet another raise from $122 to $145, while JP Morgan kept a Overweight rating on CDNS stock.
The Average True Range (ATR) for Cadence Design Systems Inc. is set at 4.36, with the Price to Sales ratio for CDNS stock in the period of the last 12 months amounting to 13.61. The Price to Book ratio for the last quarter was 14.59, with the Price to Cash per share for the same quarter was set at 3.37. Price to Free Cash Flow for CDNS in the course of the last twelve months was 45.08 with Quick ratio for the last quarter at 1.80.
CDNS stock trade performance evaluation
Cadence Design Systems Inc. [CDNS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.81. With this latest performance, CDNS shares gained by 0.13% in over the last four-week period, additionally plugging by 18.47% over the last 6 months – not to mention a rise of 63.26% 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 40.97, with the RSI for the last a single of trading hit 33.90, and the three-weeks RSI is set at 44.84 for Cadence Design Systems Inc. [CDNS]. The present Moving Average for the last 50 days of trading for this stock 136.33, while it was recorded at 140.12 for the last single week of trading, and 121.54 for the last 200 days.
Cadence Design Systems Inc. [CDNS]: An insightful look at the core 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 +24.49 and a Gross Margin at +87.94. Cadence Design Systems Inc.’s Net Margin is presently recorded at +22.02.
Return on Total Capital for CDNS is now 23.69, given the latest momentum, and Return on Invested Capital for the company is 21.53. Return on Equity for this stock inclined to 25.70, with Return on Assets sitting at 16.16. 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 19.84. Additionally, CDNS Total Debt to Total Capital is recorded at 16.56, with Total Debt to Total Assets ending up at 12.52. Long-Term Debt to Equity for the company is recorded at 18.48, with the Long-Term Debt to Total Capital now at 15.42.
Reflecting on the efficiency of the workforce at the company, Cadence Design Systems Inc. [CDNS] managed to generate an average of $67,119 per employee. Receivables Turnover for the company is 8.09 with a Total Asset Turnover recorded at a value of 0.73.Cadence Design Systems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 1.90.
Earnings per share (EPS) analysis for Cadence Design Systems Inc. [CDNS] stock
With the latest financial reports released by the company, Cadence Design Systems Inc. posted 0.66/share EPS, while the average EPS was predicted by analysts to be reported at 0.52/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 26.90%. 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 11.10%.
Cadence Design Systems Inc. [CDNS]: Insider Ownership positions
There are presently around $32,064 million, or 89.50% of CDNS stock, in the hands of institutional investors. The top three institutional holders of CDNS stocks are: BLACKROCK INC. with ownership of 32,273,978, which is approximately 3.133% of the company’s market cap and around 0.80% of the total institutional ownership; VANGUARD GROUP INC, holding 31,833,573 shares of the stock with an approximate value of $4.23 billion in CDNS stocks shares; and MASSACHUSETTS FINANCIAL SERVICES CO /MA/, currently with $3.27 billion in CDNS stock with ownership of nearly -8.25% of the company’s market capitalization.
Positions in Cadence Design Systems Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 363 institutional holders increased their position in Cadence Design Systems Inc. [NASDAQ:CDNS] by around 16,507,007 shares. Additionally, 321 investors decreased positions by around 15,032,727 shares, while 72 investors held positions by with 209,995,098 shares. The mentioned changes placed institutional holdings at 241,534,832 shares, according to the latest SEC report filing. CDNS stock had 105 new institutional investments in for a total of 5,009,118 shares, while 64 institutional investors sold positions of 1,812,196 shares during the same period.