Cadence Design Systems, Inc (CDNS) concluded trading on Thursday at a closing price of $303.79, with 2.69 million shares of worth about $817.58 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 2.72% during that period and on December 05, 2024 the price saw a loss of about -6.39%. Currently the company’s common shares owned by public are about 274.26M shares, out of which, 270.34M shares are available for trading.
Stock saw a price change of -0.29% in past 5 days and over the past one month there was a price change of 4.32%. Year-to-date (YTD), CDNS shares are showing a performance of 11.54% which increased to 15.87% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $241.29 but also hit the highest price of $328.99 during that period. The average intraday trading volume for Cadence Design Systems, Inc shares is 1.86 million. The stock is currently trading -0.45% below its 20-day simple moving average (SMA20), while that difference is up 6.79% for SMA50 and it goes to 5.11% higher than SMA200.
Cadence Design Systems, Inc (NASDAQ: CDNS) currently have 274.26M outstanding shares and institutions hold larger chunk of about 87.29% of that.
The stock has a current market capitalization of $83.32B and its 3Y-monthly beta is at 1.03. PE ratio of stock for trailing 12 months is 79.89, while it has posted earnings per share of $3.80 in the same period. Its PEG reads 5.19 and has Quick Ratio of 2.27 while making debt-to-equity ratio of 0.62. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CDNS, volatility over the week remained 3.27% while standing at 2.81% over the month.
Stock’s fiscal year EPS is expected to rise by 15.01% while it is estimated to increase by 15.54% in next year. EPS is likely to shrink at an annualized rate of 15.40% for next 5-years, compared to annual growth of 25.42% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wells Fargo on November 22, 2024 offering an Overweight rating for the stock and assigned a target price of $350 to it. Coverage by Loop Capital stated Cadence Design Systems, Inc (CDNS) stock as a Buy in their note to investors on November 12, 2024, suggesting a price target of $360 for the stock. On October 22, 2024, Mizuho Initiated their recommendations, while on October 15, 2024, Berenberg Initiated their ratings for the stock with a price target of $320. Stock get an Underperform rating from Oppenheimer on September 25, 2024.
