The stock of Cadence Design Systems, Inc. (NASDAQ:CDNS) last traded at $258.38, down -2.99% from the previous session.
CDNS stock price is now -14.11% away from the 50-day moving average and -9.58% away from the 200-day moving average. The market capitalization of the company currently stands at $70.39B.
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With the price target of $334, Piper Sandler recently initiated with Neutral rating for Cadence Design Systems, Inc. (NASDAQ: CDNS). On February 14, 2024, Morgan Stanley Upgraded its previous ‘Equal-Weight’ rating to ‘Overweight’ on the stock keeping its target price maintained at $350, while ‘Rosenblatt’ rates the stock as ‘Neutral’
In other news, SANGIOVANNI VINCENTELLI ALBERT, Director sold 1,500 shares of the company’s stock on Jul 15 ’24. The stock was sold for $471,855 at an average price of $314.57. Upon completion of the transaction, the Director now directly owns 46,551 shares in the company, valued at $12.03 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 01 ’24, Sr. Vice President TENG CHIN-CHI sold 10,000 shares of the business’s stock. A total of $3,058,398 was realized by selling the stock at an average price of $305.84. This leaves the insider owning 95,408 shares of the company worth $24.65 million. A total of 0.99% of the company’s stock is owned by insiders.
During the past 12 months, Cadence Design Systems, Inc. has had a low of $217.77 and a high of $328.99. As of last week, the company has a debt-to-equity ratio of 0.32, a current ratio of 1.43, and a quick ratio of 1.32. According to the stock market information, the enterprise value for the company is $141619200000, which is based on a 66.82 price-to-earnings ratio, a 3.91 price-to-earnings-growth ratio, and a beta of 1.05. The fifty day moving average price for CDNS is $300.2978 and a two-hundred day moving average price translates $285.82016 for the stock.
The latest earnings results from Cadence Design Systems, Inc. (NASDAQ: CDNS) was released for 2024-06-30. The net profit margin was 25.36% and return on equity was 29.44% for CDNS. The company reported revenue of $1.06 billion for the quarter, compared to $976.58 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8.61 percent.
