Cadence Design Systems, Inc. (NASDAQ: CDNS) is 2.93% higher on its value in year-to-date trading and has touched a low of $227.05 and a high of $328.99 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 $269.69 in the last trading session, with the day’s gains setting it 10.66%.
Currently trading at $280.35, the stock is 5.65% and 3.04% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.68 million and changing 3.95% at the moment leaves the stock -2.65% off its SMA200. CDNS registered 18.51% gain for a year compared to 6-month loss of -11.52%.
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The stock witnessed a -0.36% gain in the last 1 month and extending the period to 3 months gives it a -11.99%, and is 3.87% 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 2.17% over the week and 2.88% over the month.
Cadence Design Systems, Inc. (CDNS) has around 11200 employees, a market worth around $76.77B and $4.16B in sales. Current P/E ratio is 72.50 and Fwd P/E is 40.57. Profit margin for the company is 25.36%. Distance from 52-week low is 23.48% and -14.78% from its 52-week high. The company has generated returns on investments over the last 12 months (20.06%).
Cadence Design Systems, Inc. quarterly earnings per share for the current quarter are estimated at 1.44 with sales reaching $1.18B over the same period.The EPS is expected to grow by 14.07% this year, but quarterly earnings will post 13.10% year-over-year. Quarterly sales are estimated to grow 15.40% in year-over-year returns.
1880.0 institutions hold shares in Cadence Design Systems, Inc. (CDNS), with institutional investors hold 92.44% of the company’s shares. The shares outstanding are 271.71M, and float is at 271.19M with Short Float at 1.23%. Institutions hold 91.70% of the Float.
The top institutional shareholder in the company is BLACKROCK INC. with over 30.65 million shares valued at $9.43 billion. The investor’s holdings represent 11.3688 of the CDNS Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 25.41 million shares valued at $7.82 billion to account for 9.4255 of the shares outstanding. The other top investors are STATE STREET CORP which holds 11.86 million shares representing 4.3998 and valued at over $3.65 billion, while FMR LLC holds 3.5083 of the shares totaling 9.46 million with a market value of $2.91 billion.
Cadence Design Systems, Inc. (CDNS) Insider Activity
The most recent transaction is an insider sale by SANGIOVANNI VINCENTELLI ALBERT, the company’s Director. SEC filings show that SANGIOVANNI VINCENTELLI ALBERT sold 1,500 shares of the company’s common stock on Sep 17 ’24 at a price of $275.98 per share for a total of $0.41 million. Following the sale, the insider now owns 43551.0 shares.
Cadence Design Systems, Inc. disclosed in a document filed with the SEC on Sep 17 ’24 that Nisewaner Karna (SVP & General Counsel) sold a total of 659 shares of the company’s common stock. The trade occurred on Sep 17 ’24 and was made at $275.98 per share for $0.18 million. Following the transaction, the insider now directly holds 16029.0 shares of the CDNS stock.
Still, SEC filings show that on Sep 17 ’24, SANGIOVANNI VINCENTELLI ALBERT (Director) Proposed Sale 1,500 shares at an average price of $275.98 for $0.41 million. The insider now directly holds shares of Cadence Design Systems, Inc. (CDNS).
