Cadence Design Systems, Inc (NASDAQ: CDNS) is 0.09% 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 $294.19 in the last trading session, with the day’s gains setting it 6.53%.
Currently trading at $300.72, the stock is -0.70% and -0.84% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.72 million and changing 2.22% at the moment leaves the stock 4.32% off its SMA200. CDNS registered 12.00% gain for a year compared to 6-month loss of -3.53%. The firm has a 50-day simple moving average (SMA 50) of $302.7724 and a 200-day simple moving average (SMA200) of $288.312.
The stock witnessed a -2.43% gain in the last 1 month and extending the period to 3 months gives it a 6.59%, and is -0.31% 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 1.91% over the week and 2.42% over the month.
Cadence Design Systems, Inc (CDNS) has around 11200 employees, a market worth around $82.48B and $4.35B in sales. Current P/E ratio is 79.08 and Fwd P/E is 43.96. Profit margin for the company is 23.87%. Distance from 52-week low is 24.63% and -8.59% 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 14.96% this year
1801.0 institutions hold shares in Cadence Design Systems, Inc (CDNS), with institutional investors hold 91.82% of the company’s shares. The shares outstanding are 274.26M, and float is at 273.45M with Short Float at 1.64%. Institutions hold 91.09% 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 DEVGAN ANIRUDH, the company’s President and CEO. SEC filings show that DEVGAN ANIRUDH sold 93,151 shares of the company’s common stock on Jan 06 ’25 at a price of $310.00 per share for a total of $28.88 million. Following the sale, the insider now owns 55874.0 shares.
Cadence Design Systems, Inc disclosed in a document filed with the SEC on Jan 03 ’25 that TENG CHIN-CHI (Sr. Vice President) sold a total of 12,500 shares of the company’s common stock. The trade occurred on Jan 03 ’25 and was made at $299.85 per share for $3.75 million. Following the transaction, the insider now directly holds 93275.0 shares of the CDNS stock.
Still, SEC filings show that on Jan 02 ’25, DEVGAN ANIRUDH (President and CEO) disposed off 5,920 shares at an average price of $304.04 for $1.8 million. The insider now directly holds 55,874 shares of Cadence Design Systems, Inc (CDNS).
