The stock of Cadence Design Systems, Inc. (NASDAQ: CDNS) has decreased by -0.28 when compared to last closing price of 274.08. Despite this, the company has experienced a -0.53% fall in its stock price over the last five trading sessions. zacks.com reported 2024-09-24 that In the latest trading session, Cadence Design Systems (CDNS) closed at $273.32, marking a -0.28% move from the previous day.
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 70.68x. The 36-month beta value for CDNS is also noteworthy at 1.02. There are mixed opinions on the stock, with 1 analysts rating it as a “buy,” 2 rating it as “overweight,” 5 rating it as “hold,” and 1 rating it as “sell.”
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The public float for CDNS is 271.21M, and at present, short sellers hold a 1.23% of that float. The average trading volume of CDNS on September 25, 2024 was 2.03M shares.
CDNS’s Market Performance
CDNS’s stock has seen a -0.53% decrease for the week, with a -0.21% drop in the past month and a -12.27% fall in the past quarter. The volatility ratio for the week is 2.02%, and the volatility levels for the past 30 days are at 2.68% for Cadence Design Systems, Inc. The simple moving average for the past 20 days is 3.11% for CDNS’s stock, with a -5.14% simple moving average for the past 200 days.
Analysts’ Opinion of CDNS
Many brokerage firms have already submitted their reports for CDNS stocks, with Piper Sandler repeating the rating for CDNS by listing it as a “Overweight.” The predicted price for CDNS in the upcoming period, according to Piper Sandler is $318 based on the research report published on August 06, 2024 of the current year 2024.
Piper Sandler, on the other hand, stated in their research note that they expect to see CDNS reach a price target of $334. The rating they have provided for CDNS stocks is “Neutral” according to the report published on April 04th, 2024.
Morgan Stanley gave a rating of “Overweight” to CDNS, setting the target price at $350 in the report published on February 14th of the current year.
CDNS Trading at 1.36% 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 -16.92% of loss for the given period.
Volatility was left at 2.68%, however, over the last 30 days, the volatility rate increased by 2.02%, as shares surge +1.89% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -13.40% lower at present.
During the last 5 trading sessions, CDNS fell by -0.53%, which changed the moving average for the period of 200-days by +6.07% in comparison to the 20-day moving average, which settled at $265.32. In addition, Cadence Design Systems, Inc. saw 0.35% 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 SANGIOVANNI VINCENTELLI ALBERT, who sale 1,500 shares at the price of $275.98 back on Sep 17 ’24. After this action, SANGIOVANNI VINCENTELLI ALBERT now owns 43,551 shares of Cadence Design Systems, Inc., valued at $413,970 using the latest closing price.
Nisewaner Karna, the SVP & General Counsel of Cadence Design Systems, Inc., sale 659 shares at $275.98 during a trade that took place back on Sep 17 ’24, which means that Nisewaner Karna is holding 16,029 shares at $181,871 based on the most recent closing price.
Stock Fundamentals for CDNS
Current profitability levels for the company are sitting at:
- 0.28 for the present operating margin
- 0.88 for the gross margin
The net margin for Cadence Design Systems, Inc. stands at 0.25. The total capital return value is set at 0.21. Equity return is now at value 29.44, with 17.05 for asset returns.
Based on Cadence Design Systems, Inc. (CDNS), the company’s capital structure generated 0.24 points at debt to capital in total, while cash flow to debt ratio is standing at 0.8. The debt to equity ratio resting at 0.32. The interest coverage ratio of the stock is 29.72.
Currently, EBITDA for the company is 1.41 billion with net debt to EBITDA at 0.21. When we switch over and look at the enterprise to sales, we see a ratio of 18.05. The receivables turnover for the company is 7.05for trailing twelve months and the total asset turnover is 0.58. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.43.
Conclusion
In summary, Cadence Design Systems, Inc. (CDNS) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
