A number of equities analysts have weighed in on the stock. Topeka Capital Markets upped their price objective on shares of Cadence Design Systems from $25.00 to $27.00 and gave the company a "buy" rating in a research report on Tuesday, April 26th. Zacks Investment Research raised shares of Cadence Design Systems from a "sell" rating to a "hold" rating in a research report on Monday, April 25th. DA Davidson cut shares of Cadence Design Systems from a "buy" rating to a "neutral" rating and set a $25.00 price target on the stock. in a research report on Wednesday, April 6th. Needham & Company LLC raised shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a research report on Thursday, February 4th. Finally, Northland Securities reduced their price target on shares of Cadence Design Systems from $27.50 to $26.50 in a research report on Thursday, February 4th. Four analysts have rated the stock with a hold rating and six have ass igned a buy rating to the stock. Cadence Design Systems has an average rating of "Buy" and a consensus target price of $25.15.
A number of hedge funds have recently bought and sold shares of the company. Assetmark purchased a new stake in Cadence Design Systems during the third quarter valued at about $0. Hussman Strategic Advisors Inc. purchased a new stake in Cadence Design Systems during the fourth quarter valued at about $1,040,000. Wright Investors Service Inc. raised its stake in Cadence Design Systems by 20.6% in the fourth quarter. Wright Investors Service Inc. now owns 57,966 shares of the company's stock valued at $1,206,000 after buying an additional 9,882 shares during the period. Numeric Investors LLC purchased a new stake in Cadence Design Systems during the fourth quarter valued at about $1,771,000. Finally, Capital One National Association raised its stake in Cadence Design Systems by 0.5% in the fourth quarter. Capital One National Association now owns 94,469 shares of the company's stock valued at $1,966,000 after buying an additional 473 shares during the period.
Shares of Cadence Design Systems Inc (NASDAQ:CDNS) opened at 24.93 on Friday. The firm has a market cap of $7.50 billion and a price-to-earnings ratio of 28.95. The company's 50-day moving average is $23.67 and its 200 day moving average is $21.95. Cadence Design Systems Inc has a 1-year low of $18.13 and a 1-year high of $25.49.
Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, April 25th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.27 by $0.01. During the same period last year, the company posted $0.23 earnings per share. The firm had revenue of $448 million for the quarter, compared to the consensus estimate of $444.73 million. The business's revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts expect that Cadence Design Systems Inc will post $1.21 EPS for the current fiscal year.
Cadence Design Systems, Inc (Cadence) develops system design enablement (SDE) solutions that are used to design whole electronics systems and integrated circuits (ICs) and electronic devices. The Company's SDE product offerings include electronic design automation (EDA), software, emulation and prototyping hardware, and two categories of intellectual property (IP) verification IP (VIP) and design IP.
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Source: Cadence Design Systems Inc (CDNS) VP Sells $700,874.31 in Stock
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