In the past week, CDNS stock has gone up by 1.83%, with a monthly gain of 9.28% and a quarterly surge of 22.19%. The volatility ratio for the week is 2.69%, and the volatility levels for the last 30 days are 2.16% for Cadence Design Systems Inc. The simple moving average for the last 20 days is 3.59% for CDNS stock, with a simple moving average of 20.20% for the last 200 days.
Is It Worth Investing in Cadence Design Systems Inc. (NASDAQ: CDNS) Right Now?
The price-to-earnings ratio for Cadence Design Systems Inc. (NASDAQ: CDNS) is above average at 65.74x, while the 36-month beta value is 1.06.Analysts have differing opinions on the stock, with 10 analysts rating it as a “buy,” 3 as “overweight,” 3 as “hold,” and 0 as “sell.”
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The average price point forecasted by analysts for Cadence Design Systems Inc. (CDNS) is $215.00, which is $11.35 above the current market price. The public float for CDNS is 271.51M, and currently, short sellers hold a 1.34% ratio of that floaft. The average trading volume of CDNS on March 16, 2023 was 1.52M shares.
CDNS) stock’s latest price update
Cadence Design Systems Inc. (NASDAQ: CDNS)’s stock price has decreased by -0.28 compared to its previous closing price of 203.52. however, the company has experienced a 1.83% increase in its stock price over the last five trading days. Barrons Online reported on 02/13/23 that Why Fidelity National Stock Is the Market’s Worst Performer
Analysts’ Opinion of CDNS
In the past week, CDNS stock has gone up by 1.83%, with a monthly gain of 9.28% and a quarterly surge of 22.19%. The volatility ratio for the week is 2.69%, and the volatility levels for the last 30 days are 2.16% for Cadence Design Systems Inc. The simple moving average for the last 20 days is 3.59% for CDNS stock, with a simple moving average of 20.20% for the last 200 days.
Analysts’ Opinion of CDNS
Many brokerage firms have already submitted their reports for CDNS stocks, with Atlantic Equities repeating the rating for CDNS by listing it as a “Overweight.” The predicted price for CDNS in the upcoming period, according to Atlantic Equities is $200 based on the research report published on January 17th of the current year 2023.
Deutsche Bank gave a rating of “Buy” to CDNS, setting the target price at $200 in the report published on September 29th of the previous year.
CDNS Trading at 10.20% 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 -0.36% of loss for the given period.
Volatility was left at 2.16%, however, over the last 30 days, the volatility rate increased by 2.69%, as shares surge +1.93% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +26.33% upper at present.
During the last 5 trading sessions, CDNS rose by +1.83%, which changed the moving average for the period of 200-days by +36.50% in comparison to the 20-day moving average, which settled at $196.09. In addition, Cadence Design Systems Inc. saw 26.33% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CDNS starting from WALL JOHN M, who sale 37,260 shares at the price of $199.88 back on Mar 09. After this action, WALL JOHN M now owns 120,740 shares of Cadence Design Systems Inc., valued at $7,447,529 using the latest closing price.
Nisewaner Karna, the Corporate VP, General Counsel of Cadence Design Systems Inc., sale 100 shares at $196.94 during a trade that took place back on Mar 06, which means that Nisewaner Karna is holding 15,273 shares at $19,694 based on the most recent closing price.
Stock Fundamentals for CDNS
Current profitability levels for the company are sitting at:
- +30.15 for the present operating margin
- +89.05 for the gross margin
The net margin for Cadence Design Systems Inc. stands at +23.84. Equity return is now at value 31.30, with 18.00 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 1.27.
Conclusion
In a nutshell, Cadence Design Systems Inc. (CDNS) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
