Somewhat Positive Media Coverage Somewhat Unlikely to Impact Cadence Design Systems (CDNS) Share Price
Headlines about Cadence Design Systems (NASDAQ:CDNS) have been trending somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of media coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Cadence Design Systems earned a news sentiment score of 0.11 on Accern’s scale. Accern also assigned media stories about the software maker an impact score of 45.5598758098539 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the media stories that may have impacted Accern’s rankings:
- Contrasting SciQuest (SQI) & Cadence Design Systems (CDNS) (americanbankingnews.com)
- Technical Recap on Cadence Design Systems, Inc. (CDNS) – Wall Street Morning (wallstreetmorning.com)
- Cadence Design Systems, Inc. (NASDAQ:CDNS) – Stock’s Liquidity Overview – Nasdaq Journal (press release) (nasdaqjournal.com)
- Cadence Design Systems, Inc. (NASDAQ:CDNS) – Hair-Raising Facts to Know – Nasdaq Journal (press release) (nasdaqjournal.com)
- Cadence Design Systems Inc (CDNS) Short Interest Update (americanbankingnews.com)
Several research analysts have issued reports on the company. BidaskClub raised Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. KeyCorp reissued a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, November 26th. DA Davidson raised their target price 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, October 29th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $44.50.
Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Thursday, October 26th. The software maker reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Cadence Design Systems had a return on equity of 29.00% and a net margin of 13.45%. The firm had revenue of $485.40 million for the quarter, compared to analysts’ expectations of $481.10 million. During the same period in the previous year, the firm earned $0.30 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. equities analysts forecast that Cadence Design Systems will post 1.06 earnings per share for the current year.
In other news, VP Aneel Zaman sold 32,255 shares of Cadence Design Systems stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $44.32, for a total transaction of $1,429,541.60. Following the transaction, the vice president now directly owns 217,497 shares of the company’s stock, valued at approximately $9,639,467.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $41.97, for a total value of $4,197,000.00. Following the transaction, the chief executive officer now directly owns 445,833 shares in the company, valued at $18,711,611.01. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 380,974 shares of company stock worth $16,516,462. Insiders own 2.55% of the company’s stock.
About Cadence Design Systems
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).
Receive News & Ratings for Cadence Design Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Design Systems and related companies with MarketBeat.com's FREE daily email newsletter.