Cadence Design Systems Inc. [NASDAQ: CDNS] slipped around -9.08 points on Tuesday, while shares priced at $203.90 at the close of the session, down -4.26%. The company report on April 25, 2023 at 10:46 AM that Cadence Custom Design Migration Flow Accelerates Adoption of TSMC N3E and N2 Process Technologies.
Cadence Virtuoso Design Platform automates migration of IC designs to TSMC’s latest process technologies.
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Cadence Design Systems Inc. stock is now 26.93% up from its year-to-date (YTD) trading value. CDNS Stock saw the intraday high of $204.70 and lowest of $194.01 per share. The company’s 52-week high price is 217.67, which means current price is +31.65% above from all time high which was touched on 04/13/23.
Compared to the average trading volume of 1.74M shares, CDNS reached a trading volume of 5317403 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 $219.07 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 1.90. 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.
Atlantic Equities have made an estimate for Cadence Design Systems Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 17, 2023. The new note on the price target was released on December 16, 2022, representing the official price target for Cadence Design Systems Inc. stock. Previously, the target price had yet another raise to $200, while Deutsche Bank analysts kept a Buy rating on CDNS stock.
The Average True Range (ATR) for Cadence Design Systems Inc. is set at 4.96, with the Price to Sales ratio for CDNS stock in the period of the last 12 months amounting to 15.69. The Price to Book ratio for the last quarter was 20.03, with the Price to Cash per share for the same quarter was set at 3.22. Price to Free Cash Flow for CDNS in the course of the last twelve months was 49.97 with Quick ratio for the last quarter at 1.20.
How has CDNS stock performed recently?
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 -4.62. With this latest performance, CDNS shares dropped by -0.28% in over the last four-week period, additionally plugging by 28.77% over the last 6 months – not to mention a rise of 37.71% 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 41.58, with the RSI for the last a single of trading hit 30.99, and the three-weeks RSI is set at 47.92 for Cadence Design Systems Inc. [CDNS]. The present Moving Average for the last 50 days of trading for this stock 203.56, while it was recorded at 211.46 for the last single week of trading, and 177.10 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 +30.15 and a Gross Margin at +89.05. Cadence Design Systems Inc.’s Net Margin is presently recorded at +23.84.
Return on Total Capital for CDNS is now 31.17, given the latest momentum, and Return on Invested Capital for the company is 25.24. Return on Equity for this stock inclined to 30.95, with Return on Assets sitting at 17.83. 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 33.67. Additionally, CDNS Total Debt to Total Capital is recorded at 25.19, with Total Debt to Total Assets ending up at 17.99. Long-Term Debt to Equity for the company is recorded at 28.68, with the Long-Term Debt to Total Capital now at 21.46.
Reflecting on the efficiency of the workforce at the company, Cadence Design Systems Inc. [CDNS] managed to generate an average of $83,231 per employee. Receivables Turnover for the company is 8.34 with a Total Asset Turnover recorded at a value of 0.75.Cadence Design Systems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.30.
Earnings analysis for Cadence Design Systems Inc. [CDNS]
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 17.68%.
Insider trade positions for Cadence Design Systems Inc. [CDNS]
There are presently around $47,341 million, or 90.20% of CDNS stock, in the hands of institutional investors. The top three institutional holders of CDNS stocks are: BLACKROCK INC. with ownership of 32,631,213, which is approximately 2.927% of the company’s market cap and around 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 32,323,435 shares of the stock with an approximate value of $6.59 billion in CDNS stocks shares; and STATE STREET CORP, currently with $2.26 billion in CDNS stock with ownership of nearly -1.421% of the company’s market capitalization.
Positions in Cadence Design Systems Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 443 institutional holders increased their position in Cadence Design Systems Inc. [NASDAQ:CDNS] by around 16,277,813 shares. Additionally, 425 investors decreased positions by around 18,614,497 shares, while 104 investors held positions by with 197,283,766 shares. The mentioned changes placed institutional holdings at 232,176,076 shares, according to the latest SEC report filing. CDNS stock had 141 new institutional investments in for a total of 1,215,295 shares, while 75 institutional investors sold positions of 745,354 shares during the same period.