Somewhat Favorable News Coverage Somewhat Unlikely to Affect Cadence Design Systems (CDNS) Share Price

News coverage about Cadence Design Systems (NASDAQ:CDNS) has been trending somewhat positive this week, according to Accern. The research group ranks the sentiment of media coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Cadence Design Systems earned a news impact score of 0.18 on Accern’s scale. Accern also assigned news headlines about the software maker an impact score of 46.4372948666286 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.

Here are some of the headlines that may have effected Accern Sentiment’s analysis:

A number of brokerages recently commented on CDNS. BidaskClub lowered Cadence Design Systems from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 13th. 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 note on Thursday, February 1st. ValuEngine raised Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. KeyCorp reissued a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, November 26th. Finally, Zacks Investment Research lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Cadence Design Systems has a consensus rating of “Hold” and an average target price of $44.20.

Shares of Cadence Design Systems stock opened at $38.35 on Thursday. Cadence Design Systems has a 52-week low of $30.35 and a 52-week high of $46.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.47 and a current ratio of 1.53. The stock has a market capitalization of $10,737.71, a P/E ratio of 51.82, a price-to-earnings-growth ratio of 3.71 and a beta of 1.08.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Wednesday, January 31st. The software maker reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. Cadence Design Systems had a return on equity of 31.28% and a net margin of 10.50%. The business had revenue of $501.70 million for the quarter, compared to the consensus estimate of $496.20 million. During the same period in the prior year, the business posted $0.34 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. equities research analysts predict that Cadence Design Systems will post 0.85 EPS for the current year.

In other news, CFO John M. Wall sold 1,021 shares of the stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $39.25, for a total value of $40,074.25. Following the sale, the chief financial officer now directly owns 127,972 shares in the company, valued at $5,022,901. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO John M. Wall sold 750 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $43.95, for a total value of $32,962.50. Following the completion of the sale, the chief financial officer now owns 109,323 shares in the company, valued at $4,804,745.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 162,110 shares of company stock worth $7,016,878. Company insiders own 2.55% of the company’s stock.

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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).

Insider Buying and Selling by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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