Cadence Design Systems Inc. [NASDAQ: CDNS] loss -4.31% on the last trading session, reaching $148.04 price per share at the time. The company report on October 11, 2022 that Cadence and Google Cloud Collaborate to Advance the Electronic System and Semiconductor Design Ecosystem.
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Customers using the Cadence Cloud Passport on Google Cloud can access cloud-ready and certified design and analysis tools.
Cadence Design Systems Inc. represents 273.87 million in outstanding shares, while the company has a total market value of $42.97 billion with the latest information. CDNS stock price has been found in the range of $147.06 to $154.90.
If compared to the average trading volume of 1.70M shares, CDNS reached a trading volume of 4033361 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $196.31 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 2.00. 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.
Deutsche Bank have made an estimate for Cadence Design Systems Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 29, 2022. While these analysts kept the previous recommendation, Stifel raised their target price to Hold. The new note on the price target was released on September 08, 2022, representing the official price target for Cadence Design Systems Inc. stock. Previously, the target price had yet another raise to $210, while Wolfe Research analysts kept a Outperform rating on CDNS stock. On June 29, 2022, analysts increased their price target for CDNS shares from 160 to 175.
The Average True Range (ATR) for Cadence Design Systems Inc. is set at 5.26, with the Price to Sales ratio for CDNS stock in the period of the last 12 months amounting to 13.09. The Price to Book ratio for the last quarter was 15.31, with the Price to Cash per share for the same quarter was set at 3.55. Price to Free Cash Flow for CDNS in the course of the last twelve months was 39.17 with Quick ratio for the last quarter at 1.50.
Trading performance analysis for CDNS stock
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 -13.59. With this latest performance, CDNS shares dropped by -15.42% in over the last four-week period, additionally sinking by -3.71% over the last 6 months – not to mention a drop of -0.99% 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 28.01, with the RSI for the last a single of trading hit 22.68, and the three-weeks RSI is set at 32.52 for Cadence Design Systems Inc. [CDNS]. The present Moving Average for the last 50 days of trading for this stock 174.11, while it was recorded at 159.95 for the last single week of trading, and 159.83 for the last 200 days.
Cadence Design Systems Inc. [CDNS]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Cadence Design Systems Inc. [CDNS] shares currently have an operating margin of +26.04 and a Gross Margin at +89.07. Cadence Design Systems Inc.’s Net Margin is presently recorded at +23.29.
Return on Equity for this stock inclined to 26.60, with Return on Assets sitting at 16.70.
Cadence Design Systems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.60.
Cadence Design Systems Inc. [CDNS]: An earnings per share (EPS) analysis
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 18.10%.
An analysis of insider ownership at Cadence Design Systems Inc. [CDNS]
There are presently around $34,385 million, or 88.90% of CDNS stock, in the hands of institutional investors. The top three institutional holders of CDNS stocks are: BLACKROCK INC. with ownership of 32,798,774, which is approximately -1.88% of the company’s market cap and around 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 31,934,871 shares of the stock with an approximate value of $4.73 billion in CDNS stocks shares; and MASSACHUSETTS FINANCIAL SERVICES CO /MA/, currently with $2.8 billion in CDNS stock with ownership of nearly -3.709% of the company’s market capitalization.
Positions in Cadence Design Systems Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 400 institutional holders increased their position in Cadence Design Systems Inc. [NASDAQ:CDNS] by around 11,613,790 shares. Additionally, 360 investors decreased positions by around 12,243,394 shares, while 105 investors held positions by with 208,409,829 shares. The mentioned changes placed institutional holdings at 232,267,013 shares, according to the latest SEC report filing. CDNS stock had 90 new institutional investments in for a total of 1,466,643 shares, while 73 institutional investors sold positions of 1,458,468 shares during the same period.