Cadence Design Systems (CDNS) Given News Sentiment Rating of 0.11
Headlines about Cadence Design Systems (NASDAQ:CDNS) have trended somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of news coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Cadence Design Systems earned a coverage optimism score of 0.11 on Accern’s scale. Accern also gave news articles about the software maker an impact score of 46.1947058403698 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
These are some of the news articles that may have effected Accern’s analysis:
- Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock Closed Much Higher Than Its 50 Day Moving Average – Modern Readers (modernreaders.com)
- Cadence Design Systems Inc (CDNS) and Barnes & Noble Inc (BKS) Needle Moving on Volume – Bulletin News (orobulletin.com)
- Hold Consensus rating Stock: Cadence Design Systems, Inc. (CDNS) – Street Observer (press release) (streetobserver.com)
- SPDR S&P MIDCAP 400 ETF Experiences Big Outflow – Nasdaq (nasdaq.com)
- Cadence Design Systems, Inc. (CDNS) Position Down in Latest Report from Norges Bank – First News 24 (firstnewspaper24.com)
A number of equities research analysts recently commented on CDNS shares. Zacks Investment Research downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. BidaskClub downgraded Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada boosted their target price on Cadence Design Systems from $36.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 25th. Bank of America Corporation boosted their target price on Cadence Design Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Finally, DA Davidson downgraded Cadence Design Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.67.
Shares of Cadence Design Systems (NASDAQ CDNS) opened at 36.19 on Friday. The stock has a market capitalization of $10.14 billion, a P/E ratio of 42.08 and a beta of 0.94. Cadence Design Systems has a 12 month low of $24.03 and a 12 month high of $37.51. The firm’s 50-day moving average price is $35.11 and its 200-day moving average price is $32.58.
Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 24th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. Cadence Design Systems had a return on equity of 27.81% and a net margin of 12.86%. The company had revenue of $479 million for the quarter, compared to analysts’ expectations of $476.21 million. During the same period in the previous year, the firm posted $0.29 EPS. Cadence Design Systems’s revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts forecast that Cadence Design Systems will post $1.39 EPS for the current year.
In other Cadence Design Systems news, insider Aneel Zaman sold 29,406 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $32.62, for a total value of $959,223.72. Following the transaction, the insider now directly owns 247,495 shares of the company’s stock, valued at approximately $8,073,286.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lip Bu Tan sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $34.04, for a total transaction of $3,404,000.00. Following the completion of the transaction, the chief executive officer now directly owns 583,332 shares in the company, valued at $19,856,621.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 434,656 shares of company stock worth $14,786,334. 2.55% of the stock is currently owned by insiders.
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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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