Currently, there are 271.71M common shares owned by the public and among those 271.21M shares have been available to trade.
The company’s stock has a 5-day price change of 13.10% and 6.27% over the past three months. CDNS shares are trading 4.44% year to date (YTD), with the 12-month market performance up to 23.21% higher. It has a 12-month low price of $230.65 and touched a high of $328.99 over the same period. CDNS has an average intraday trading volume of 2.00 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.08%, 6.48%, and -1.26% respectively.
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Institutional ownership of Cadence Design Systems, Inc. (NASDAQ: CDNS) shares accounts for 89.22% of the company’s 271.71M shares outstanding.
It has a market capitalization of $77.89B and a beta (3y monthly) value of 1.02. The stock’s trailing 12-month PE ratio is 74.79, while the earnings-per-share (ttm) stands at $3.80. The company has a PEG of 4.67 and a Quick Ratio of 2.27 with the debt-to-equity ratio at 0.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.84% over the week and 2.76% over the month.
Earnings per share for the fiscal year are expected to increase by 14.94%, and 15.35% over the next financial year. EPS should shrink at an annualized rate of 16.00% over the next five years, compared to 25.42% over the past 5-year period.
Looking at the support for the CDNS, a number of firms have released research notes about the stock. Mizuho stated their Outperform rating for the stock in a research note on October 22, 2024, with the firm’s price target at $325. Berenberg coverage for the Cadence Design Systems, Inc. (CDNS) stock in a research note released on October 15, 2024 offered a Buy rating with a price target of $320. Oppenheimer was of a view on September 25, 2024 that the stock is Underperform, while Piper Sandler gave the stock Overweight rating on August 06, 2024, issuing a price target of $318. Piper Sandler on their part issued Neutral rating on April 04, 2024.
