Cadence Design Systems, Inc (NASDAQ: CDNS) is -0.93% lower 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 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 $300.46 in the last trading session, with the day’s loss setting it -2.8%.
Currently trading at $297.66, the stock is -2.83% and 0.07% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.13 million and changing -0.93% at the moment leaves the stock 3.04% off its SMA200. CDNS registered 13.22% gain for a year compared to 6-month loss of -5.65%. The firm has a 50-day simple moving average (SMA 50) of $297.4586 and a 200-day simple moving average (SMA200) of $288.8906.
The stock witnessed a -4.06% gain in the last 1 month and extending the period to 3 months gives it a 11.48%, and is -3.54% 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 2.03% over the week and 2.60% over the month.
Cadence Design Systems, Inc (CDNS) has around 11200 employees, a market worth around $81.64B and $4.35B in sales. Current P/E ratio is 78.28 and Fwd P/E is 43.50. Profit margin for the company is 23.87%. Distance from 52-week low is 23.36% and -9.52% from its 52-week high. The company has generated returns on investments over the last 12 months (14.76%).
The EPS is expected to grow by 15.01% this year
1797.0 institutions hold shares in Cadence Design Systems, Inc (CDNS), with institutional investors hold 91.70% of the company’s shares. The shares outstanding are 274.26M, and float is at 271.82M with Short Float at 1.65%. Institutions hold 90.97% 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
Still, SEC filings show that on Dec 18 ’24, WALL JOHN M (Sr. VP & CFO) disposed off 4,224 shares at an average price of $309.03 for $1.31 million. The insider now directly holds 29,248 shares of Cadence Design Systems, Inc (CDNS).
