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Cadence Design Systems, Inc. (NASDAQ: CDNS) closed the day trading at $258.38 down -2.99% from the previous closing price of $266.34. In other words, the price has decreased by -$2.99 from its previous closing price. On the day, 3.48 million shares were traded. CDNS stock price reached its highest trading level at $268.9299 during the session, while it also had its lowest trading level at $258.16.
Ratios:
For a better understanding of CDNS, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 66.47 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 56.45. For the most recent quarter (mrq), Quick Ratio is recorded 1.32 and its Current Ratio is at 1.43. In the meantime, Its Debt-to-Equity ratio is 0.32 whereas as Long-Term Debt/Eq ratio is at 0.23.
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:
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 Jul 15 ’24 when SANGIOVANNI VINCENTELLI ALBERT sold 1,500 shares for $314.57 per share. The transaction valued at 471,855 led to the insider holds 46,551 shares of the business.
TENG CHIN-CHI sold 10,000 shares of CDNS for $3,058,398 on Jul 01 ’24. The Sr. Vice President now owns 95,408 shares after completing the transaction at $305.84 per share. On Jul 01 ’24, another insider, Cunningham Paul, who serves as the Sr. Vice President of the company, sold 650 shares for $307.75 each. As a result, the insider received 200,038 and left with 65,844 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 70749609984 and an Enterprise Value of 141619200000. As of this moment, Cadence’s Price-to-Earnings (P/E) ratio for their current fiscal year is 66.82, and their Forward P/E ratio for the next fiscal year is 37.46. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 3.91. For the stock, the TTM Price-to-Sale (P/S) ratio is 16.91 while its Price-to-Book (P/B) ratio in mrq is 16.60. Its current Enterprise Value per Revenue stands at 34.031 whereas that against EBITDA is 103.751.
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 $217.77. The 50-Day Moving Average of the stock is -14.11%, while the 200-Day Moving Average is calculated to be -9.58%.
Shares Statistics:
Over the past 3-months, CDNS traded about 1.65M shares per day on average, while over the past 10 days, CDNS traded about 2697700 shares per day. A total of 271.71M shares are outstanding, with a floating share count of 269.72M. Insiders hold about 0.99% of the company’s shares, while institutions hold 89.00% stake in the company. Shares short for CDNS as of 1721001600 were 3161456 with a Short Ratio of 1.91, compared to 1718323200 on 3819030. Therefore, it implies a Short% of Shares Outstanding of 3161456 and a Short% of Float of 1.2999999.
