Cadence Design Systems (CDNS) Getting Positive Press Coverage, Study Finds
Media headlines about Cadence Design Systems (NASDAQ:CDNS) have trended positive this week, Accern reports. Accern rates the sentiment of news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Cadence Design Systems earned a news impact score of 0.27 on Accern’s scale. Accern also assigned news articles about the software maker an impact score of 45.6932606998566 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the media stories that may have impacted Accern Sentiment Analysis’s scoring:
- ADP Tops Q1 Earnings & Revenue Estimates, Raises '18 View (finance.yahoo.com)
- Cadence Design Systems Sees Composite Rating Move Up To 96 (finance.yahoo.com)
- Roger S. Siboni Sells 18,000 Shares of Cadence Design Systems, Inc. (CDNS) Stock (americanbankingnews.com)
- Cadence Joules RTL Power Solution Enables Socionext to Accelerate Low-Power HEVC 4K/60p Video Codec Chip … – Design and Reuse (press release) (design-reuse.com)
- Cadence Design Systems, Inc. (CDNS) – Institutional Investors Big Insight – Wallstreet Investorplace (wallstreetinvestorplace.com)
Shares of Cadence Design Systems (NASDAQ CDNS) opened at $43.90 on Friday. The firm has a market capitalization of $12,395.60, a P/E ratio of 47.20, a price-to-earnings-growth ratio of 3.46 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.79 and a quick ratio of 1.72. Cadence Design Systems has a 52-week low of $24.15 and a 52-week high of $43.92.
Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Thursday, October 26th. The software maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $485.40 million during the quarter, compared to the consensus estimate of $481.10 million. Cadence Design Systems had a return on equity of 29.00% and a net margin of 13.45%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 earnings per share. equities analysts predict that Cadence Design Systems will post 1.06 EPS for the current fiscal year.
Several brokerages have recently issued reports on CDNS. DA Davidson boosted their price objective on Cadence Design Systems to $43.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “buy” rating and set a $46.00 price objective on shares of Cadence Design Systems in a research report on Friday, October 27th. Needham & Company LLC reiterated a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, October 29th. Zacks Investment Research upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Wednesday. Finally, BidaskClub upgraded Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Cadence Design Systems presently has an average rating of “Buy” and an average target price of $40.60.
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In other Cadence Design Systems news, VP James J. Cowie sold 5,036 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $37.21, for a total value of $187,389.56. Following the completion of the sale, the vice president now directly owns 82,082 shares in the company, valued at $3,054,271.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roger S. Siboni sold 18,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $43.14, for a total value of $776,520.00. Following the completion of the transaction, the director now directly owns 52,194 shares in the company, valued at approximately $2,251,649.16. The disclosure for this sale can be found here. Insiders sold 278,786 shares of company stock valued at $10,962,920 over the last 90 days. 2.55% of the stock is currently owned by insiders.
Cadence Design Systems Company Profile
Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).
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