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After finishing at $263.03 in the prior trading day, Cadence Design Systems, Inc. (NASDAQ: CDNS) closed at $258.52, down -1.71%. In other words, the price has decreased by -$1.71 from its previous closing price. On the day, 4.06 million shares were traded. CDNS stock price reached its highest trading level at $265.12 during the session, while it also had its lowest trading level at $258.25.
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 66.85 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 75.09. 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, Berenberg on October 15, 2024, initiated with a Buy rating and assigned the stock a target price of $320.
On September 25, 2024, Oppenheimer started tracking the stock assigning a Underperform rating and target price of $225.
Piper Sandler Upgraded its Neutral to Overweight on August 06, 2024, while the target price for the stock was maintained at $318.
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 Oct 15 ’24 when SANGIOVANNI VINCENTELLI ALBERT sold 1,500 shares for $283.66 per share. The transaction valued at 425,490 led to the insider holds 42,051 shares of the business.
SANGIOVANNI VINCENTELLI ALBERT bought 1,500 shares of CDNS for $425,490 on Oct 15 ’24. On Oct 08 ’24, another insider, WALL JOHN M, who serves as the Sr. VP & CFO of the company, sold 25 shares for $263.57 each. As a result, the insider received 6,589 and left with 35,853 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 70787940352 and an Enterprise Value of 141695877120. As of this moment, Cadence’s Price-to-Earnings (P/E) ratio for their current fiscal year is 66.85, and their Forward P/E ratio for the next fiscal year is 37.37. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.18. For the stock, the TTM Price-to-Sale (P/S) ratio is 17.01 while its Price-to-Book (P/B) ratio in mrq is 16.61. Its current Enterprise Value per Revenue stands at 34.049 whereas that against EBITDA is 103.807.
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 $228.66. The 50-Day Moving Average of the stock is -4.12%, while the 200-Day Moving Average is calculated to be -10.31%.
Shares Statistics:
The stock has traded on average 2.06M shares per day over the past 3-months and 1905050 shares per day over the last 10 days, according to various share statistics. A total of 271.71M shares are outstanding, with a floating share count of 271.21M. Insiders hold about 0.95% of the company’s shares, while institutions hold 89.32% stake in the company. Shares short for CDNS as of 1727654400 were 3358305 with a Short Ratio of 1.63, compared to 1724976000 on 3339698. Therefore, it implies a Short% of Shares Outstanding of 3358305 and a Short% of Float of 1.38.
