Market Highlights: Cadence Design Systems, Inc. (CDNS) Ends on a Low Note at 318.53

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The price of Cadence Design Systems, Inc. (NASDAQ: CDNS) closed at $318.53 in the last session, down -2.44% from day before closing price of $326.50. In other words, the price has decreased by -$2.44 from its previous closing price. On the day, 1.72 million shares were traded. CDNS stock price reached its highest trading level at $328.99 during the session, while it also had its lowest trading level at $317.61.

Ratios:

We take a closer look at CDNS’s different ratios to gain a better understanding of the stock. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 85.62 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 71.65. 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:

An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Jun 14 ’24 when SANGIOVANNI VINCENTELLI ALBERT sold 1,500 shares for $309.09 per share. The transaction valued at 463,635 led to the insider holds 48,051 shares of the business.

Cunningham Paul sold 650 shares of CDNS for $191,750 on Jun 11 ’24. The Sr. Vice President now owns 66,494 shares after completing the transaction at $295.00 per share. On Jun 06 ’24, another insider, TENG CHIN-CHI, who serves as the Sr. Vice President of the company, sold 32,184 shares for $297.45 each. As a result, the insider received 9,573,183 and left with 95,408 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 88945999872 and an Enterprise Value of 86175137792. As of this moment, Cadence’s Price-to-Earnings (P/E) ratio for their current fiscal year is 83.00, and their Forward P/E ratio for the next fiscal year is 46.19. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.85. For the stock, the TTM Price-to-Sale (P/S) ratio is 21.26 while its Price-to-Book (P/B) ratio in mrq is 24.30. Its current Enterprise Value per Revenue stands at 21.135 whereas that against EBITDA is 63.427.

Stock Price History:

The Beta on a monthly basis for CDNS is 1.04, which has changed by 0.4136783 over the last 52 weeks, in comparison to a change of 0.2586832 over the same period for the S&P500. Over the past 52 weeks, CDNS has reached a high of $327.36, while it has fallen to a 52-week low of $217.77. The 50-Day Moving Average of the stock is 8.97%, while the 200-Day Moving Average is calculated to be 14.82%.

Shares Statistics:

According to the various share statistics, CDNS traded on average about 1.55M shares per day over the past 3-months and 1628410 shares per day over the past 10 days. A total of 271.71M shares are outstanding, with a floating share count of 269.43M. Insiders hold about 0.99% of the company’s shares, while institutions hold 89.43% stake in the company. Shares short for CDNS as of 1715731200 were 3169907 with a Short Ratio of 2.26, compared to 1713139200 on 2460351. Therefore, it implies a Short% of Shares Outstanding of 3169907 and a Short% of Float of 1.3099999.

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