Cadence Design Systems, Inc (NASDAQ: CDNS)’s stock price has dropped by -3.25 in relation to previous closing price of 311.35. Nevertheless, the company has seen a loss of -2.44% in its stock price over the last five trading days. zacks.com reported 2024-12-17 that Cadence Design Systems (CDNS) concluded the recent trading session at $311.35, signifying a -0.68% move from its prior day’s close.
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 79.22x, which is above its average ratio. Moreover, the 36-month beta value for CDNS is 1.03. Analysts have varying opinions on the stock, with 12 analysts rating it as a “buy,” 4 as “overweight,” 3 as “hold,” and 1 as “sell.”
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The public float for CDNS is 271.81M and currently, short sellers hold a 1.40% of that float. On December 19, 2024, CDNS’s average trading volume was 1.85M shares.
CDNS’s Market Performance
The stock of Cadence Design Systems, Inc (CDNS) has seen a -2.44% decrease in the past week, with a 2.35% rise in the past month, and a 7.45% gain in the past quarter. The volatility ratio for the week is 2.70%, and the volatility levels for the past 30 days are at 2.71% for CDNS. The simple moving average for the last 20 days is -2.48% for CDNS’s stock, with a simple moving average of 4.20% for the last 200 days.
Analysts’ Opinion of CDNS
Many brokerage firms have already submitted their reports for CDNS stocks, with Wells Fargo repeating the rating for CDNS by listing it as a “Overweight.” The predicted price for CDNS in the upcoming period, according to Wells Fargo is $350 based on the research report published on November 22, 2024 of the current year 2024.
Loop Capital, on the other hand, stated in their research note that they expect to see CDNS reach a price target of $360. The rating they have provided for CDNS stocks is “Buy” according to the report published on November 12th, 2024.
Mizuho gave a rating of “Outperform” to CDNS, setting the target price at $325 in the report published on October 22nd of the current year.
CDNS Trading at 3.33% 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 -8.43% of loss for the given period.
Volatility was left at 2.71%, however, over the last 30 days, the volatility rate increased by 2.70%, as shares surge +0.54% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +11.51% upper at present.
During the last 5 trading sessions, CDNS fell by -2.44%, which changed the moving average for the period of 200-days by -2.10% in comparison to the 20-day moving average, which settled at $308.91. In addition, Cadence Design Systems, Inc saw 10.60% 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 4,224 shares at the price of $309.03 back on Dec 18 ’24. After this action, WALL JOHN M now owns 29,248 shares of Cadence Design Systems, Inc, valued at $1,305,343 using the latest closing price.
JOHN M WALL, the Officer of Cadence Design Systems, Inc, proposed sale 4,224 shares at $309.03 during a trade that took place back on Dec 18 ’24, which means that JOHN M WALL is holding shares at $1,305,343 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
- 0.9 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 22.43.
Currently, EBITDA for the company is 1.42 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 18.98. The receivables turnover for the company is 7.76for 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
To wrap up, the performance of Cadence Design Systems, Inc (CDNS) has been better in recent times. The stock has received a mixed of “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.
