Cadence Design Systems, Inc (NASDAQ: CDNS) is 13.72% higher on its value in year-to-date trading and has touched a low of $241.29 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 $307.51 in the last trading session, with the day’s gains setting it 2.24%.
Currently trading at $309.75, the stock is 1.27% and 8.36% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.52 million and changing 0.73% at the moment leaves the stock 7.15% off its SMA200. CDNS registered 19.38% gain for a year compared to 6-month gain of 4.58%. The firm has a 50-day simple moving average (SMA 50) of $285.145 and a 200-day simple moving average (SMA200) of $289.0411.
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The stock witnessed a 2.66% loss in the last 1 month and extending the period to 3 months gives it a 21.07%, and is -0.17% 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 3.28% over the week and 2.73% over the month.
Cadence Design Systems, Inc (CDNS) has around 11200 employees, a market worth around $85.99B and $4.35B in sales. Current P/E ratio is 81.46 and Fwd P/E is 45.26. Profit margin for the company is 23.87%. Distance from 52-week low is 28.37% and -5.85% from its 52-week high. The company has generated returns on investments over the last 12 months (14.76%).
with sales reaching $1.35B over the same period.The EPS is expected to grow by 15.01% this year, but quarterly earnings will post 13.31% year-over-year. Quarterly sales are estimated to grow 26.02% in year-over-year returns.
Cadence Design Systems, Inc (CDNS) Top Institutional Holders
1807.0 institutions hold shares in Cadence Design Systems, Inc (CDNS), with institutional investors hold 91.72% of the company’s shares. The shares outstanding are 274.26M, and float is at 270.34M with Short Float at 1.34%. Institutions hold 90.99% 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 Cunningham Paul, the company’s Sr. Vice President. SEC filings show that Cunningham Paul sold 650 shares of the company’s common stock on Dec 02 ’24 at a price of $306.19 per share for a total of $0.2 million. Following the sale, the insider now owns 60461.0 shares.
Still, SEC filings show that on Nov 22 ’24, TENG CHIN-CHI (Sr. Vice President) disposed off 5,758 shares at an average price of $310.17 for $1.79 million. The insider now directly holds 93,275 shares of Cadence Design Systems, Inc (CDNS).
