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Daily High to Daily Low: Is It Safe to Buy Cadence Design Systems Inc. (CDNS)?

Cadence Design Systems Inc. (NASDAQ:CDNS) went down by -0.82% from its latest closing price compared to the recent 1-year high of $192.70. The company’s stock price has collected 3.02% of gains in the last five trading sessions. Barron’s reported on 02/23/22 that Cadence Design Spikes After Earnings. Analysts Are Upbeat.

Is It Worth Investing in Cadence Design Systems Inc. (NASDAQ :CDNS) Right Now?

Cadence Design Systems Inc. (NASDAQ:CDNS) scored a price-to-earnings ratio above its average ratio, recording 65.05 x from its present earnings ratio. Plus, the 36-month beta value for CDNS is at 1.14. Opinions of the stock are interesting as 7 analysts out of 14 who provided ratings for Cadence Design Systems Inc. declared the stock was a “buy,” while 1 rated the stock as “overweight,” 6 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $190.46, which is $12.4 above the current price. CDNS currently public float of 272.06M and currently shorts hold a 1.37% ratio of that float. Today, the average trading volume of CDNS was 1.58M shares.

CDNS’s Market Performance

CDNS stocks went up by 3.02% for the week, with a monthly jump of 19.99% and a quarterly performance of 19.04%, while its annual performance rate touched 21.42%. The volatility ratio for the week stands at 2.71% while the volatility levels for the past 30 days are set at 3.06% for Cadence Design Systems Inc. The simple moving average for the period of the last 20 days is 9.49% for CDNS stocks with a simple moving average of 13.23% for the last 200 days.

Analysts’ Opinion of CDNS

Many brokerage firms have already submitted their reports for CDNS stocks, with BofA Securities repeating the rating for CDNS by listing it as a “Neutral.” The predicted price for CDNS in the upcoming period, according to BofA Securities is $175 based on the research report published on June 29th of the current year 2022.

Berenberg, on the other hand, stated in their research note that they expect to see CDNS reach a price target of $180. The rating they have provided for CDNS stocks is “Buy” according to the report published on February 23rd, 2022.

BofA Securities gave a rating of “Underperform” to CDNS, setting the target price at $180 in the report published on January 10th of the current year.

CDNS Trading at 15.85% from the 50-Day Moving Average

After a stumble in the market that brought CDNS to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -5.58% of loss for the given period.

Volatility was left at 3.06%, however, over the last 30 days, the volatility rate increased by 2.71%, as shares surge +16.60% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +24.11% upper at present.

During the last 5 trading sessions, CDNS rose by +3.02%, which changed the moving average for the period of 200-days by +16.80% in comparison to the 20-day moving average, which settled at $167.47. In addition, Cadence Design Systems Inc. saw -2.36% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at CDNS starting from ZAMAN ANEEL, who sale 4,076 shares at the price of $183.90 back on Aug 01. After this action, ZAMAN ANEEL now owns 96,261 shares of Cadence Design Systems Inc., valued at $749,576 using the latest closing price.

ZAMAN ANEEL, the Sr. Vice President of Cadence Design Systems Inc., sale 6,253 shares at $180.00 during a trade that took place back on Jul 28, which means that ZAMAN ANEEL is holding 96,261 shares at $1,125,540 based on the most recent closing price.

Stock Fundamentals for CDNS

Current profitability levels for the company are sitting at:

  • +26.04 for the present operating margin
  • +89.07 for the gross margin

The net margin for Cadence Design Systems Inc. stands at +23.29. Equity return is now at value 28.80, with 17.90 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 1.77.

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