Media stories about Cadence Design Systems (NASDAQ:CDNS) have been trending somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of news coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Cadence Design Systems earned a daily sentiment score of 0.18 on Accern’s scale. Accern also assigned press coverage about the software maker an impact score of 46.4372948666286 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the media headlines that may have impacted Accern Sentiment’s analysis:
- 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)
Cadence Design Systems (CDNS) traded down $0.34 during trading on Wednesday, reaching $38.83. 2,186,762 shares of the company traded hands, compared to its average volume of 2,469,043. The stock 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. Cadence Design Systems has a 12-month low of $30.35 and a 12-month high of $46.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.53 and a quick ratio of 1.47.
A number of research analysts have issued reports on the stock. KeyCorp reaffirmed a “hold” rating on shares of Cadence Design Systems in a report on Sunday, November 26th. BidaskClub cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Zacks Investment Research cut shares of Cadence Design Systems from a “hold” rating to a “strong sell” rating in a research note on Monday, February 5th. Credit Suisse Group restated a “neutral” rating and set a $43.00 target price (up previously from $37.00) on shares of Cadence Design Systems in a research report on Thursday, February 1st. Finally, ValuEngine upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $44.20.
In other news, President Anirudh Devgan sold 44,526 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $45.01, for a total value of $2,004,115.26. Following the completion of the sale, the president now directly owns 377,019 shares of the company’s stock, valued at approximately $16,969,625.19. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Wall sold 750 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $37.93, for a total transaction of $28,447.50. Following the completion of the sale, the chief financial officer now owns 129,673 shares in the company, valued at $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 over the last three months. 2.55% of the stock is currently owned by company insiders.
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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