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Will Cadence Design Systems Inc. (CDNS) benefit from Wall Street bulls Calls?

Cadence Design Systems Inc. (NASDAQ: CDNS) is -10.39% lower on its value in year-to-date trading and has touched a low of $132.32 and a high of $194.97 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 $167.19 in the last trading session, with the day’s loss setting it -0.2% off its average median price target of $200.00 for the next 12 months. It is also 22.33% off the consensus price target high of $215.00 offered by 15 analysts, but current levels are 7.23% higher than the price target low of $180.00 for the same period.

Currently trading at $166.99, the stock is -3.58% and -4.58% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.73 million and changing -0.12% at the moment leaves the stock 3.54% off its SMA200. CDNS registered 3.77% gain for a year compared to 6-month gain of 6.23%.

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The stock witnessed a -11.19% loss in the last 1 month and extending the period to 3 months gives it a 12.72%, and is 0.04% 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 2.39% over the week and 2.24% over the month.

Cadence Design Systems Inc. (CDNS) has around 9300 employees, a market worth around $45.39B and $3.28B in sales. Current P/E ratio is 59.70 and Fwd P/E is 36.38. Profit margin for the company is 23.60%. Distance from 52-week low is 26.21% and -14.35% from its 52-week high. The company has generated returns on investments over the last 12 months (22.90%).

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”. 15 analysts offering their recommendations for the stock have an average rating of 2.10, where 6 rate it as a Hold and 1 think it is a “Overweight”. 8 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 10/24/2022.The EPS is expected to grow by 18.20% this year.

Cadence Design Systems Inc. (CDNS) Top Institutional Holders

The shares outstanding are 273.87M, and float is at 272.19M with Short Float at 0.93%.

Cadence Design Systems Inc. (CDNS) Insider Activity

A total of 107 insider transactions have happened at Cadence Design Systems Inc. (CDNS) in the last six months, with sales accounting for 79 and purchases happening 28 times. The most recent transaction is an insider sale by TAN LIP BU,the company’sExecutive Chair. SEC filings show that TAN LIP BU sold 50,000 shares of the company’s common stock on Sep 15 at a price of $162.87 per share for a total of $8.14 million. Following the sale, the insider now owns 0.6 million shares.

Cadence Design Systems Inc. disclosed in a document filed with the SEC on Sep 12 that TENG CHIN-CHI (Sr. Vice President) sold a total of 11,000 shares of the company’s common stock. The trade occurred on Sep 12 and was made at $174.59 per share for $1.92 million. Following the transaction, the insider now directly holds 0.14 million shares of the CDNS stock.

Still, SEC filings show that on Sep 06, Cunningham Paul (Sr. Vice President) disposed off 250 shares at an average price of $168.39 for $42098.0. The insider now directly holds 94,189 shares of Cadence Design Systems Inc. (CDNS).

Cadence Design Systems Inc. (CDNS): Who are the competitors?

The company’s main competitors (and peers) include Fortinet Inc. (FTNT) that is trading -14.55% down over the past 12 months and Synopsys Inc. (SNPS) that is -1.57% lower over the same period. Palo Alto Networks Inc. (PANW) is 10.68% up on the 1-year trading charts.

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