Cadence Design Systems, Inc. (NASDAQ: CDNS) is -4.62% lower on its value in year-to-date trading and has touched a low of $217.77 and a high of $328.99 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 $246.84 in the last trading session, with the day’s gains setting it 12.96%.
Currently trading at $259.80, the stock is -7.69% and -12.12% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.69 million and changing 5.25% at the moment leaves the stock -9.17% off its SMA200. CDNS registered 13.45% gain for a year compared to 6-month gain of -12.42%.
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The stock witnessed a -18.14% loss in the last 1 month and extending the period to 3 months gives it a -8.90%, and is 2.64% 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 4.57% over the week and 3.55% over the month.
Cadence Design Systems, Inc. (CDNS) has around 11200 employees, a market worth around $71.14B and $4.16B in sales. Current P/E ratio is 67.18 and Fwd P/E is 37.60. Profit margin for the company is 25.36%. Distance from 52-week low is 19.30% and -21.03% from its 52-week high. The company has generated returns on investments over the last 12 months (20.06%).
with sales reaching $1.18B over the same period.The EPS is expected to grow by 14.08% this year, but quarterly earnings will post 13.10% year-over-year. Quarterly sales are estimated to grow 15.30% in year-over-year returns.
Cadence Design Systems, Inc. (CDNS) Top Institutional Holders
The shares outstanding are 271.71M, and float is at 271.20M with Short Float at 1.17%.
Cadence Design Systems, Inc. (CDNS) Insider Activity
Cadence Design Systems, Inc. disclosed in a document filed with the SEC on Aug 01 ’24 that Cunningham Paul (Sr. Vice President) sold a total of 650 shares of the company’s common stock. The trade occurred on Aug 01 ’24 and was made at $266.24 per share for $0.17 million. Following the transaction, the insider now directly holds 65194.0 shares of the CDNS stock.
Still, SEC filings show that on Jul 15 ’24, SANGIOVANNI VINCENTELLI ALBERT (Director) disposed off 1,500 shares at an average price of $314.57 for $0.47 million. The insider now directly holds 46,551 shares of Cadence Design Systems, Inc. (CDNS).
