Cadence Design Systems Inc. (NASDAQ: CDNS) is 14.17% higher 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 continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CDNS stock was last observed hovering at around $178.26 in the last trading session, with the day’s gains setting it 5.15%.
Currently trading at $183.41, the stock is 11.27% and 11.34% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.81 million and changing 2.89% at the moment leaves the stock 13.67% off its SMA200. CDNS registered 22.02% gain for a year compared to 6-month loss of 9.36%.
The stock witnessed a 12.97% gain in the last 1 month and extending the period to 3 months gives it a 19.84%, and is 8.36% 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 3.13% over the week and 2.73% over the month.
Cadence Design Systems Inc. (CDNS) has around 9300 employees, a market worth around $48.53B and $3.43B in sales. Current P/E ratio is 64.56 and Fwd P/E is 38.98. Profit margin for the company is 22.90%. Distance from 52-week low is 38.62% and -5.93% from its 52-week high. The company has generated returns on investments over the last 12 months (22.90%).
Cadence Design Systems Inc. is expected to release its quarterly report on 04/24/2023.The EPS is expected to grow by 18.20% this year.
Cadence Design Systems Inc. (CDNS) Top Institutional Holders
The shares outstanding are 274.32M, and float is at 272.86M with Short Float at 0.96%.
Cadence Design Systems Inc. (CDNS) Insider Activity
A total of 87 insider transactions have happened at Cadence Design Systems Inc. (CDNS) in the last six months, with sales accounting for 75 and purchases happening 12 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 42,500 shares of the company’s common stock on Jan 17 at a price of $173.39 per share for a total of $7.37 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 Jan 05 that Cunningham Paul (Sr. Vice President) sold a total of 250 shares of the company’s common stock. The trade occurred on Jan 05 and was made at $157.56 per share for $39390.0. Following the transaction, the insider now directly holds 93189.0 shares of the CDNS stock.
Still, SEC filings show that on Dec 21, TAN LIP BU (Executive Chair) disposed off 40,000 shares at an average price of $164.55 for $6.58 million. The insider now directly holds 956,936 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 -17.19% down over the past 12 months and Synopsys Inc. (SNPS) that is 13.02% higher over the same period. Palo Alto Networks Inc. (PANW) is -13.79% down on the 1-year trading charts.