1,107 institutions hold shares in Cadence Design Systems Inc. (CDNS), with 3.62M shares held by insiders accounting for 1.30% while institutional investors hold 90.34% of the company’s shares. The shares outstanding are 278.97M, and float is at 274.87M with Short Float at 1.43%. Institutions hold 89.17% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 32.27 million shares valued at $4.4 billion. The investor’s holdings represent 11.57% of the CDNS Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 31.83 million shares valued at $4.34 billion to account for 11.41% of the shares outstanding. The other top investors are Massachusetts Financial Services Co. which holds 24.66 million shares representing 8.84% and valued at over $3.36 billion, while State Street Corporation holds 4.26% of the shares totaling 11.89 million with a market value of $1.62 billion.
Cadence Design Systems Inc. (NASDAQ: CDNS) is -2.70% lower on its value in year-to-date trading and has touched a low of $61.73 and a high of $149.08 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CDNS stock was last observed hovering at around $132.58 in the last trading session, with the day’s gains setting it 0.17% off its average median price target of $153.55 for the next 12 months. It is also 17.03% off the consensus price target high of $160.00 offered by 17 analysts, but current levels are -8.19% lower than the price target low of $122.70 for the same period.
Currently trading at $132.75, the stock is 2.64% and -1.02% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.95 million and changing 0.13% at the moment leaves the stock 13.84% off its SMA200. CDNS registered 113.15% gain for a year compared to 6-month gain of 27.99%. The firm has a 50-day simple moving average (SMA 50) of $133.61 and a 200-day simple moving average (SMA200) of $123.03.
The stock witnessed a -5.91% loss in the last 1 month and extending the period to 3 months gives it a -0.93%, and is 3.74% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.98% over the week and 3.74% over the month.
Cadence Design Systems Inc. (CDNS) has around 8800 employees, a market worth around $35.10B and $2.68B in sales. Current P/E ratio is 62.86 and Fwd P/E is 39.83. Profit margin for the company is 22.00%. Distance from 52-week low is 115.05% and -10.95% from its 52-week high. The company has generated returns on investments over the last 12 months (21.20%).
Cadence Design Systems Inc. (CDNS) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Cadence Design Systems Inc. (CDNS) is a “Overweight”. 17 analysts offering their recommendations for the stock have an average rating of 2.20, where 5 rate it as a Hold and 1 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Cadence Design Systems Inc. is expected to release its quarterly report on 04/26/2021 and quarterly earnings per share for the current quarter are estimated at $0.75 with sales reaching $717.95M over the same period.The EPS is expected to shrink by -40.10% this year, but quarterly earnings will post 8.00% year-over-year. Quarterly sales are estimated to grow 16.20% in year-over-year returns.
Cadence Design Systems Inc. (CDNS) Insider Activity
A total of 127 insider transactions have happened at Cadence Design Systems Inc. (CDNS) in the last six months, with sales accounting for 90 and purchases happening 37 times. The most recent transaction is an insider sale by Cunningham Paul, the company’s Sr. Vice President. SEC filings show that Cunningham Paul sold 1,000 shares of the company’s common stock on Mar 25 at a price of $126.65 per share for a total of $0.13 million. Following the sale, the insider now owns 0.1 million shares.
Cadence Design Systems Inc. disclosed in a document filed with the SEC on Mar 16 that WALL JOHN M (Sr. VP & CFO) sold a total of 30,000 shares of the company’s common stock. The trade occurred on Mar 16 and was made at $131.36 per share for $3.94 million. Following the transaction, the insider now directly holds 0.13 million shares of the CDNS stock.
Still, SEC filings show that on Mar 15, TAN LIP BU (CEO) disposed off 50,000 shares at an average price of $127.45 for $6.37 million. The insider now directly holds 743,894 shares of Cadence Design Systems Inc. (CDNS).
Cadence Design Systems Inc. (CDNS): Who are the competitors?
The company’s main competitors (and peers) include PTC Inc. (PTC) that is trading 123.18% up over the past 12 months. CEVA Inc. (CEVA) is 143.28% up on the 1-year trading charts. Short interest in the company’s stock has risen 35.97% from the last report on Feb 11, 2021 to stand at a total of 2.51 million short shares sold with a short interest ratio of 1.67.