Cadence Design Systems, Inc. (NASDAQ: CDNS) is 12.52% higher on its value in year-to-date trading and has touched a low of $194.01 and a high of $327.36 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 $310.58 in the last trading session, with the day’s loss setting it -4.1%.
Currently trading at $306.48, the stock is -1.55% and 0.81% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.13 million and changing -1.32% at the moment leaves the stock 17.33% off its SMA200. CDNS registered 44.98% gain for a year compared to 6-month gain of 34.02%. The firm has a 50-day simple moving average (SMA 50) of $20.34 and a 200-day simple moving average (SMA200) of $56.82.
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The stock witnessed a -0.40% loss in the last 1 month and extending the period to 3 months gives it a 19.12%, and is -1.56% down 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 2.08% over the week and 2.26% over the month.
Cadence Design Systems, Inc. (CDNS) has around 11200 employees, a market worth around $83.55B and $4.09B in sales. Current P/E ratio is 80.28 and Fwd P/E is 44.17. Profit margin for the company is 25.46%. Distance from 52-week low is 57.97% and -6.38% from its 52-week high. The company has generated returns on investments over the last 12 months (27.26%).
Cadence Design Systems, Inc. quarterly earnings per share for the current quarter are estimated at $1.12 with sales reaching $1B over the same period.The EPS is expected to grow by 15.22% this year, but quarterly earnings will post 12.20% year-over-year. Quarterly sales are estimated to shrink -1.90% in year-over-year returns.
1,732 institutions hold shares in Cadence Design Systems, Inc. (CDNS), with institutional investors hold 92.15% of the company’s shares. The shares outstanding are 271.71M, and float is at 270.14M with Short Float at 0.98%. Institutions hold 91.41% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 30.07 million shares valued at $7.05 billion. The investor’s holdings represent 11.06% of the CDNS Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 24.18 million shares valued at $5.67 billion to account for 8.90% of the shares outstanding. The other top investors are Massachusetts Financial Services Co. which holds 12.06 million shares representing 4.44% and valued at over $2.83 billion, while State Street Corporation holds 4.27% of the shares totaling 11.6 million with a market value of $2.72 billion.
Cadence Design Systems, Inc. (CDNS) Insider Activity
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 Apr 01 ’24 at a price of $310.46 per share for a total of $0.31 million. Following the sale, the insider now owns 68144.0 shares.
Cadence Design Systems, Inc. disclosed in a document filed with the SEC on Apr 01 ’24 that Nisewaner Karna (SVP & General Counsel) sold a total of 600 shares of the company’s common stock. The trade occurred on Apr 01 ’24 and was made at $310.46 per share for $0.19 million. Following the transaction, the insider now directly holds 21080.0 shares of the CDNS stock.
Still, SEC filings show that on Mar 28 ’24, WALL JOHN M (Sr. VP & CFO) disposed off 21,700 shares at an average price of $311.40 for $6.76 million. The insider now directly holds 41,035 shares of Cadence Design Systems, Inc. (CDNS).
