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As of close of business last night, Cadence Design Systems, Inc.’s stock clocked out at $287.48, up 0.77% from its previous closing price of $285.28. In other words, the price has increased by $0.77 from its previous closing price. On the day, 0.84 million shares were traded. CDNS stock price reached its highest trading level at $290.54 during the session, while it also had its lowest trading level at $285.28.
Ratios:
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 77.27 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 64.67. For the most recent quarter (mrq), Quick Ratio is recorded 1.19 and its Current Ratio is at 1.32. In the meantime, Its Debt-to-Equity ratio is 0.18 whereas as Long-Term Debt/Eq ratio is at 0.08.
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, Piper Sandler on April 04, 2024, initiated with a Neutral rating and assigned the stock a target price of $334.
On February 14, 2024, Morgan Stanley Upgraded its rating to Overweight which previously was Equal-Weight but kept the price unchanged to $350.
Rosenblatt Downgraded its Buy to Neutral on February 13, 2024, while the target price for the stock was maintained at $280.
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 May 01 ’24 when Cunningham Paul sold 1,000 shares for $275.36 per share. The transaction valued at 275,360 led to the insider holds 67,144 shares of the business.
Nisewaner Karna sold 600 shares of CDNS for $165,216 on May 01 ’24. The SVP & General Counsel now owns 20,480 shares after completing the transaction at $275.36 per share. On Apr 15 ’24, another insider, SANGIOVANNI VINCENTELLI ALBERT, who serves as the Director of the company, sold 1,500 shares for $308.83 each. As a result, the insider received 463,238 and left with 50,183 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, CDNS now has a Market Capitalization of 78233092096 and an Enterprise Value of 77725376512. As of this moment, Cadence’s Price-to-Earnings (P/E) ratio for their current fiscal year is 74.91, and their Forward P/E ratio for the next fiscal year is 41.27. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.22. For the stock, the TTM Price-to-Sale (P/S) ratio is 19.19 while its Price-to-Book (P/B) ratio in mrq is 21.93. Its current Enterprise Value per Revenue stands at 19.062 whereas that against EBITDA is 57.207.
Stock Price History:
Over the past 52 weeks, CDNS has reached a high of $327.36, while it has fallen to a 52-week low of $198.92. The 50-Day Moving Average of the stock is -4.32%, while the 200-Day Moving Average is calculated to be 7.06%.
Shares Statistics:
It appears that CDNS traded 1.60M shares on average per day over the past three months and 1333240 shares per day over the past ten days. A total of 271.71M shares are outstanding, with a floating share count of 269.73M. Insiders hold about 0.89% of the company’s shares, while institutions hold 89.52% stake in the company. Shares short for CDNS as of 1714435200 were 2803556 with a Short Ratio of 1.75, compared to 1711584000 on 2749066. Therefore, it implies a Short% of Shares Outstanding of 2803556 and a Short% of Float of 1.16.
