The name Cadence Design Systems Inc. (CDNS) should be kept on your radar

As of close of business last night, Cadence Design Systems Inc.’s stock clocked out at 166.99, down -0.12% from its previous closing price of $167.19. In other words, the price has decreased by $-0.20 from its previous closing price. On the day, 1728395 shares were traded. CDNS reached its highest trading level at $168.30 during the session, while it also had its lowest trading level at $165.79.

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To gain a deeper understanding of CDNS’s stock, we examine its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 44.09 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 41.38. For the most recent quarter (mrq), Quick Ratio is recorded 1.50 and its Current Ratio is at 1.60. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.13.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Stifel on September 08, 2022, initiated with a Hold rating and assigned the stock a target price of $200.

On August 17, 2022, Wolfe Research started tracking the stock assigning a Outperform rating and target price of $210.

BofA Securities Upgraded its Underperform to Neutral on June 29, 2022, whereas the target price for the stock was revised from $160 to $175.

Insider Transactions:

Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on Sep 15 when TAN LIP BU sold 50,000 shares for $162.87 per share. The transaction valued at 8,143,522 led to the insider holds 602,589 shares of the business.

TENG CHIN-CHI sold 11,000 shares of CDNS for $1,920,522 on Sep 12. The Sr. Vice President now owns 141,104 shares after completing the transaction at $174.59 per share. On Sep 06, another insider, Cunningham Paul, who serves as the Sr. Vice President of the company, sold 250 shares for $168.39 each. As a result, the insider received 42,098 and left with 94,189 shares of the company.

Valuation Measures:

As of this moment, Cadence’s Price-to-Earnings (P/E) ratio for their current fiscal year is 59.70, and their Forward P/E ratio for the next fiscal year is 36.38. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 3.37. For the stock, the TTM Price-to-Sale (P/S) ratio is 13.83 while its Price-to-Book (P/B) ratio in mrq is 17.27.

Stock Price History:

Over the past 52 weeks, CDNS has reached a high of $194.97, while it has fallen to a 52-week low of $132.32. The 50-Day Moving Average of the stock is 175.19, while the 200-Day Moving Average is calculated to be 161.19.

Shares Statistics:

It appears that CDNS traded 1.63M shares on average per day over the past three months and 1.83M shares per day over the past ten days. A total of 273.87M shares are outstanding, with a floating share count of 272.19M. Insiders hold about 0.60% of the company’s shares, while institutions hold 88.40% stake in the company. Shares short for CDNS as of Jul 14, 2022 were 3.73M with a Short Ratio of 1.56, compared to 3.18M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 1.36% and a Short% of Float of 1.80%.

Earnings Estimates

As of right now, 9 analysts gave their recommendation on the stock of the company. On average, analysts expect EPS of $0.96 for the current quarter, with a high estimate of $0.97 and a low estimate of $0.89, while EPS last year was $0.8. The consensus estimate for the next quarter is $0.89, with high estimates of $0.91 and low estimates of $0.87.

Analysts are recommending an EPS of between $4.18 and $3.92 for the fiscal current year, implying an average EPS of $4.09. EPS for the following year is $4.59, with 11 analysts recommending between $4.79 and $4.28.

Revenue Estimates

In the current quarter, 9 analysts expect revenue to total $865.82M. It ranges from a high estimate of $875.45M to a low estimate of $829M. As of the current estimate, Cadence Design Systems Inc.’s year-ago sales were $750.89M, an estimated increase of 15.30% from the year-ago figure. For the next quarter, 9 analysts are estimating revenue of $864.27M, an increase of 11.80% less than the figure of $15.30% in the same quarter last year. There is a high estimate of $874.4M for the next quarter, whereas the lowest estimate is $850M.

A total of 11 analysts have provided revenue estimates for CDNS’s current fiscal year. The highest revenue estimate was $3.5B, while the lowest revenue estimate was $3.36B, resulting in an average revenue estimate of $3.48B. In the same quarter a year ago, actual revenue was $2.99B, up 16.30% from the average estimate. Based on 12 analysts’ estimates, the company’s revenue will be $3.81B in the next fiscal year. The high estimate is $3.94B and the low estimate is $3.65B. The average revenue growth estimate for next year is up 9.60% from the average revenue estimate for this year.