The stock price of Cadence Design Systems, Inc (NASDAQ: CDNS) has jumped by 0.04 compared to previous close of 308.58. Despite this, the company has seen a gain of 2.47% in its stock price over the last five trading days. zacks.com reported 2024-12-24 that In the closing of the recent trading day, Cadence Design Systems (CDNS) stood at $308.58, denoting a +1.37% change from the preceding trading 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 81.18x, Company’s 36-month beta value is 1.03.Analysts have differing 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 271.82M, and currently, short sellers hold a 1.65% ratio of that floaft. The average trading volume of CDNS on December 27, 2024 was 1.85M shares.
CDNS’s Market Performance
CDNS’s stock has seen a 2.47% increase for the week, with a -1.18% drop in the past month and a 12.57% gain in the past quarter. The volatility ratio for the week is 2.20%, and the volatility levels for the past 30 days are at 2.61% for Cadence Design Systems, Inc The simple moving average for the last 20 days is 0.28% for CDNS’s stock, with a simple moving average of 6.84% 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 4.96% 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 -6.17% of loss for the given period.
Volatility was left at 2.61%, however, over the last 30 days, the volatility rate increased by 2.20%, as shares sank -0.45% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.55% upper at present.
During the last 5 trading sessions, CDNS rose by +2.47%, which changed the moving average for the period of 200-days by -0.83% in comparison to the 20-day moving average, which settled at $307.82. In addition, Cadence Design Systems, Inc saw 13.33% 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 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 19.45. 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
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.
