Shares of Cadence Design Systems Inc (NASDAQ:CDNS) opened at 24.98 on Friday. The company has a market cap of $7.52 billion and a PE ratio of 29.01. The firm'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 issued its quarterly earnings data on Monday, April 25th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $448 million for the quarter, compared to analyst estimates of $444.73 million. The business's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 earnings per share. On average, equities analysts forecast that Cadence Design Systems Inc will post $1.21 earnings per share for the current fiscal year.
Other institutional investors recently added to or reduced their stakes in the company. Assetmark bought a new position in Cadence Design Systems during the third quarter worth $0. Hussman Strategic Advisors Inc. bought a new position in Cadence Design Systems during the fourth quarter worth $1,040,000. Wright Investors Service Inc. boosted its position 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 worth $1,206,000 after buying an additional 9,882 shares during the period. Numeric Investors LLC bought a new position in Cadence Design Systems during the fourth quarter worth $1,771,000. Finally, Capital One National Association boosted its position 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 worth $1,966,000 after buying an additional 473 shares during the period.
Several research firms have issued reports on CDNS. Topeka Capital Markets upped their target price on shares of Cadence Design Systems from $25.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday, April 26th. Zacks Investment Research upgraded shares of Cadence Design Systems from a "sell" rating to a "hold" rating in a research note 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 target price on the stock. in a research note on Wednesday, April 6th. Northland Securities lowered their target price on shares of Cadence Design Systems from $27.50 to $26.50 in a research note on Thursday, February 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cadence Design Systems from $21.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, February 4th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Cadence Design Systems currently has a consensus rating of "Buy" and an average target price of $25.15.
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 James J. Cowie Sells 59,509 Shares
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