Cadence Design Systems, Inc. (NASDAQ: CDNS) is 10.72% 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 $305.85 in the last trading session, with the day’s loss setting it -4.29%.
Currently trading at $301.56, the stock is -2.96% and -1.51% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.34 million and changing -1.40% at the moment leaves the stock 14.23% off its SMA200. CDNS registered 38.96% gain for a year compared to 6-month gain of 19.57%.
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The stock witnessed a -1.53% loss in the last 1 month and extending the period to 3 months gives it a 12.31%, and is -3.06% 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 2.22% over the week and 2.10% over the month.
Cadence Design Systems, Inc. (CDNS) has around 11200 employees, a market worth around $82.21B and $4.09B in sales. Current P/E ratio is 78.99 and Fwd P/E is 43.40. Profit margin for the company is 25.46%. Distance from 52-week low is 55.44% and -7.88% from its 52-week high. The company has generated returns on investments over the last 12 months (27.26%).
The EPS is expected to grow by 15.20% this year.
Cadence Design Systems, Inc. (CDNS) Top Institutional Holders
The shares outstanding are 271.71M, and float is at 270.17M with Short Float at 1.02%.
Cadence Design Systems, Inc. (CDNS) Insider Activity
The most recent transaction is an insider sale by Cunningham Paul,the company’sSr. 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).
