For those aiming to surpass market returns, the art of stock picking is crucial. Making wise choices in stocks can greatly enhance your overall wealth.
After finishing at $302.86 in the prior trading day, Cadence Design Systems, Inc (NASDAQ: CDNS) closed at $308.78, up 1.95%. In other words, the price has increased by $1.95 from its previous closing price. On the day, 2.22 million shares were traded. CDNS stock price reached its highest trading level at $311.1 during the session, while it also had its lowest trading level at $305.775.
Ratios:
Our goal is to gain a better understanding of CDNS by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 29.30 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 88.93. For the most recent quarter (mrq), Quick Ratio is recorded 2.27 and its Current Ratio is at 2.45. In the meantime, Its Debt-to-Equity ratio is 0.62 whereas as Long-Term Debt/Eq ratio is at 0.54.
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, Wells Fargo on November 22, 2024, initiated with a Overweight rating and assigned the stock a target price of $350.
On November 12, 2024, Loop Capital started tracking the stock assigning a Buy rating and target price of $360.
On October 22, 2024, Mizuho started tracking the stock assigning a Outperform rating and target price of $325.Mizuho initiated its Outperform rating on October 22, 2024, with a $325 target price.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Dec 02 ’24 when Cunningham Paul sold 650 shares for $306.19 per share. The transaction valued at 199,024 led to the insider holds 60,461 shares of the business.
PAUL A CUNNINGHAM bought 650 shares of CDNS for $199,024 on Dec 02 ’24. On Nov 22 ’24, another insider, TENG CHIN-CHI, who serves as the Sr. Vice President of the company, sold 5,758 shares for $310.17 each. As a result, the insider received 1,785,968 and left with 93,275 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 84686929920 and an Enterprise Value of 84570832896. As of this moment, Cadence’s Price-to-Earnings (P/E) ratio for their current fiscal year is 81.20, and their Forward P/E ratio for the next fiscal year is 45.12. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 5.27. For the stock, the TTM Price-to-Sale (P/S) ratio is 19.45 while its Price-to-Book (P/B) ratio in mrq is 18.56. Its current Enterprise Value per Revenue stands at 19.424 whereas that against EBITDA is 58.305.
Stock Price History:
Over the past 52 weeks, CDNS has reached a high of $328.99, while it has fallen to a 52-week low of $241.29. The 50-Day Moving Average of the stock is 7.44%, while the 200-Day Moving Average is calculated to be 6.80%.
Shares Statistics:
The stock has traded on average 1.86M shares per day over the past 3-months and 1600780 shares per day over the last 10 days, according to various share statistics. A total of 274.26M shares are outstanding, with a floating share count of 270.34M. Insiders hold about 1.43% of the company’s shares, while institutions hold 87.28% stake in the company. Shares short for CDNS as of 1732838400 were 3807736 with a Short Ratio of 2.05, compared to 1730332800 on 3918569. Therefore, it implies a Short% of Shares Outstanding of 3807736 and a Short% of Float of 1.5599999999999998.
