Cadence Design Systems (NASDAQ:CDNS) Getting Somewhat Positive Media Coverage, Study Finds

Media coverage about Cadence Design Systems (NASDAQ:CDNS) has been trending somewhat positive recently, according to Accern Sentiment Analysis. Accern identifies negative and positive press coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Cadence Design Systems earned a media sentiment score of 0.16 on Accern’s scale. Accern also gave media stories about the software maker an impact score of 46.0718188236798 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.

Here are some of the news articles that may have effected Accern’s analysis:

Shares of NASDAQ:CDNS opened at $36.77 on Friday. Cadence Design Systems has a one year low of $30.81 and a one year high of $46.00. The stock has a market capitalization of $10,236.14, a PE ratio of 49.69, a PEG ratio of 3.53 and a beta of 1.08. The company has a quick ratio of 1.47, a current ratio of 1.53 and a debt-to-equity ratio of 0.65.

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

A number of research firms recently weighed in on CDNS. BidaskClub downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Zacks Investment Research downgraded shares of Cadence Design Systems from a “hold” rating to a “strong sell” rating in a research report on Monday, February 5th. Credit Suisse Group reaffirmed a “neutral” rating and issued 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 raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Cadence Design Systems currently has a consensus rating of “Hold” and an average target price of $44.20.

In related news, CEO Lip Bu Tan sold 25,000 shares of Cadence Design Systems stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $44.69, for a total transaction of $1,117,250.00. Following the completion of the sale, the chief executive officer now owns 458,333 shares of the company’s stock, valued at approximately $20,482,901.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John M. Wall sold 1,021 shares of Cadence Design Systems stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $39.25, for a total transaction of $40,074.25. Following the sale, the chief financial officer now directly owns 127,972 shares of the company’s stock, valued at approximately $5,022,901. The disclosure for this sale can be found here. In the last three months, insiders sold 162,110 shares of company stock valued at $7,016,878. 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).

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

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