News stories about Cadence Design Systems (NASDAQ:CDNS) have been trending somewhat positive recently, Accern Sentiment reports. The research firm identifies positive and negative news coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Cadence Design Systems earned a news impact score of 0.16 on Accern’s scale. Accern also gave news articles about the software maker an impact score of 46.0718188236798 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the headlines that may have effected Accern Sentiment’s rankings:
- Cadence Design Systems, Inc. (CDNS) estimated to achieve EPS … – Wallstreet Investorplace (wallstreetinvestorplace.com)
- Cadence Design Systems, Inc., (NASDAQ: CDNS) – Investor’s Roundup (Volatility in Focus) – Stock Watch (stocksnewstimes.com)
- Investors watching Analysts Rating of Cadence Design Systems, Inc. (CDNS) – Wall Street Morning (wallstreetmorning.com)
- Cadence Design Systems, Inc. (CDNS) estimated to achieve EPS growth of -45.00% for this year – Wallstreet Investorplace (wallstreetinvestorplace.com)
- Analysts’ Recommendation in Spotlight – Cadence Design Systems Inc (NASDAQ: CDNS) – Stocks Pen (stockspen.com)
Shares of Cadence Design Systems (CDNS) traded down $0.34 during midday trading on Wednesday, hitting $38.83. The stock had a trading volume of 2,186,773 shares, compared to its average volume of 2,469,043. Cadence Design Systems has a 1-year low of $30.35 and a 1-year high of $46.00. The company has a quick ratio of 1.47, a current ratio of 1.53 and a debt-to-equity ratio of 0.65. The company has a market cap of $11,229.90, a P/E ratio of 52.93, a price-to-earnings-growth ratio of 3.88 and a beta of 1.08.
Several equities analysts have recently weighed in on CDNS shares. BidaskClub lowered Cadence Design Systems from a “sell” rating to a “strong sell” rating in a research note on Tuesday. ValuEngine raised Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research lowered Cadence Design Systems from a “hold” rating to a “strong sell” rating in a research report on Monday, February 5th. Credit Suisse Group reissued a “neutral” rating and set a $43.00 price target (up from $37.00) on shares of Cadence Design Systems in a research report on Thursday, February 1st. Finally, KeyCorp reissued a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, November 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $44.20.
In other Cadence Design Systems news, President Anirudh Devgan sold 44,526 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $45.01, for a total transaction of $2,004,115.26. Following the completion of the transaction, the president now owns 377,019 shares in the company, valued at approximately $16,969,625.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John M. Wall sold 750 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $37.93, for a total value of $28,447.50. Following the transaction, the chief financial officer now owns 129,673 shares of the company’s stock, valued at approximately $4,918,496.89. The disclosure for this sale can be found here. Insiders have sold a total of 261,089 shares of company stock valued at $11,328,803 in the last 90 days. Insiders own 2.55% of the company’s stock.
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About Cadence Design Systems
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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