News stories about Cadence Design Systems (NASDAQ:CDNS) have trended somewhat positive recently, Accern Sentiment reports. The research firm scores the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Cadence Design Systems earned a media sentiment score of 0.16 on Accern’s scale. Accern also assigned press coverage about the software maker an impact score of 46.0790131576209 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the news stories that may have impacted Accern Sentiment Analysis’s scoring:
- New Cadence Allegro PCB DesignTrue DFM Technology Accelerates New Product Development and Introduction … – PR Newswire (press release) (prnewswire.com)
- New Cadence Allegro PCB DesignTrue DFM Technology Accelerates New Product Development and Introduction Process (finance.yahoo.com)
- Cadence Design Systems, Inc. (CDNS) Given Average Recommendation of “Buy” by Brokerages (americanbankingnews.com)
- Cadence Design Systems will join S&P 500 (seekingalpha.com)
- Xilinx, Arm, Cadence, and TSMC Announce World’s First CCIX Silicon Demonstration Vehicle in 7nm Process … – Markets Insider (markets.businessinsider.com)
Cadence Design Systems (CDNS) traded down 0.16% during mid-day trading on Tuesday, reaching $37.55. 4,247,616 shares of the company were exchanged. The stock’s 50-day moving average is $37.21 and its 200-day moving average is $34.03. The company has a market cap of $10.52 billion, a P/E ratio of 43.66 and a beta of 0.92. Cadence Design Systems has a 12 month low of $24.15 and a 12 month high of $39.49.
Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 24th. The software maker reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The business had revenue of $479.00 million during the quarter, compared to analyst estimates of $476.21 million. Cadence Design Systems had a return on equity of 27.81% and a net margin of 12.86%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. Equities analysts expect that Cadence Design Systems will post $1.39 earnings per share for the current year.
Several brokerages have recently weighed in on CDNS. Credit Suisse Group reiterated an “outperform” rating on shares of Cadence Design Systems in a report on Thursday, August 31st. BidaskClub upgraded shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. Zacks Investment Research upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Thursday, July 27th. Bank of America Corporation increased their price objective on shares of Cadence Design Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada increased their price objective on shares of Cadence Design Systems from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $33.67.
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In other news, CFO Geoffrey G. Ribar sold 5,000 shares of Cadence Design Systems stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $36.88, for a total transaction of $184,400.00. Following the completion of the sale, the chief financial officer now directly owns 174,413 shares in the company, valued at approximately $6,432,351.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Geoffrey G. Ribar sold 35,000 shares of Cadence Design Systems stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $37.31, for a total value of $1,305,850.00. Following the sale, the chief financial officer now owns 204,413 shares of the company’s stock, valued at $7,626,649.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 416,286 shares of company stock valued at $14,799,640. 2.55% of the stock is owned by corporate insiders.
Cadence Design Systems Company Profile
Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).
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