In the past week, CDNS stock has gone up by 3.28%, with a monthly gain of 13.73% and a quarterly surge of 9.41%. The volatility ratio for the week is 2.58%, and the volatility levels for the last 30 days are 2.89% for Cadence Design Systems, Inc The simple moving average for the past 20 days is 10.35% for CDNS’s stock, with a 6.29% simple moving average for the past 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 80.59x. 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 270.52M, and at present, short sellers hold a 1.45% of that float. The average trading volume of CDNS on November 14, 2024 was 1.88M shares.
CDNS) stock’s latest price update
Cadence Design Systems, Inc (NASDAQ: CDNS) has seen a rise in its stock price by 2.92 in relation to its previous close of 297.77. However, the company has experienced a 3.28% gain in its stock price over the last five trading sessions. zacks.com reported 2024-11-12 that Cadence (CDNS) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Analysts’ Opinion of CDNS
Many brokerage firms have already submitted their reports for CDNS stocks, with Loop Capital repeating the rating for CDNS by listing it as a “Buy.” The predicted price for CDNS in the upcoming period, according to Loop Capital is $360 based on the research report published on November 12, 2024 of the current year 2024.
Mizuho, on the other hand, stated in their research note that they expect to see CDNS reach a price target of $325. The rating they have provided for CDNS stocks is “Outperform” according to the report published on October 22nd, 2024.
Berenberg gave a rating of “Buy” to CDNS, setting the target price at $320 in the report published on October 15th of the current year.
CDNS Trading at 12.42% 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 -6.85% of loss for the given period.
Volatility was left at 2.89%, however, over the last 30 days, the volatility rate increased by 2.58%, as shares surge +16.55% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +20.60% upper at present.
During the last 5 trading sessions, CDNS rose by +3.28%, which changed the moving average for the period of 200-days by +4.02% in comparison to the 20-day moving average, which settled at $277.74. In addition, Cadence Design Systems, Inc saw 12.52% 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 BECKLEY THOMAS P, who proposed sale 19,353 shares at the price of $303.22 back on Nov 06 ’24. After this action, BECKLEY THOMAS P now owns shares of Cadence Design Systems, Inc, valued at $5,868,282 using the latest closing price.
Cunningham Paul, the Sr. Vice President of Cadence Design Systems, Inc, sale 650 shares at $276.00 during a trade that took place back on Nov 01 ’24, which means that Cunningham Paul is holding 61,111 shares at $179,400 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
- 0.94 for the gross margin
The net margin for Cadence Design Systems, Inc stands at 0.24. The total capital return value is set at 0.16. Equity return is now at value 27.07, with 14.24 for asset returns.
Based on Cadence Design Systems, Inc (CDNS), the company’s capital structure generated 0.38 points at debt to capital in total, while cash flow to debt ratio is standing at 0.39. The debt to equity ratio resting at 0.62. The interest coverage ratio of the stock is 22.36.
Currently, EBITDA for the company is 1.46 billion with net debt to EBITDA at 0.03. When we switch over and look at the enterprise to sales, we see a ratio of 19.31. The receivables turnover for the company is 7.11for trailing twelve months and the total asset turnover is 0.47. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.45.
Conclusion
In summary, Cadence Design Systems, Inc (CDNS) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
