Cadence Design Systems Inc. (NASDAQ: CDNS) on May 22, 2023, started off the session at the price of $215.55, plunging -2.34% from the previous trading day. During the day, the shares moved up to $215.94 and dropped to $211.40 before settling in for the closing price of $216.71. Within the past 52 weeks, CDNS’s price has moved between $138.76 and $219.09.
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Annual sales at Technology sector company grew by 12.90% over the past five years. The company achieved an average annual earnings per share of 23.70%. With a float of $270.03 million, this company’s outstanding shares have now reached $272.68 million.
Let’s look at the performance matrix of the company that is accounted for 10200 employees. In terms of profitability, gross margin is +89.05, operating margin of +30.15, and the pretax margin is +29.35.
Cadence Design Systems Inc. (CDNS) Insider Updates
Observing investor behavior towards Software – Application industry stocks is more important than anything else. The insider ownership of Cadence Design Systems Inc. is 0.60%, while institutional ownership is 90.20%. The most recent insider transaction that took place on May 18, was worth 15,909,771. In this transaction Sr. Vice President of this company sold 76,003 shares at a rate of $209.33, taking the stock ownership to the 185,761 shares. Before that another transaction happened on May 16, when Company’s Former Executive Chair sold 42,500 for $202.55, making the entire transaction worth $8,608,573. This insider now owns 602,589 shares in total.
Cadence Design Systems Inc. (CDNS) Performance Highlights and Predictions
As on 3/30/2023, Multinational firm has announced its last quarter scores, in which it reported $1.29 earnings per share (EPS) for the period topping the consensus outlook (set at $1.25) by $0.04. This company achieved a net margin of +23.84 while generating a return on equity of 30.95. Wall Street market experts anticipate that the next fiscal year will bring earnings of 1.26 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around 23.70% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 17.54% during the next five years compared to 51.80% growth over the previous five years of trading.
Cadence Design Systems Inc. (NASDAQ: CDNS) Trading Performance Indicators
Cadence Design Systems Inc. (CDNS) is currently performing well based on its current performance indicators. A quick ratio of 1.30 was reported for the most recent quarter. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 15.68. Likewise, its price to free cash flow for the trailing twelve months is 55.49.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 3.12, a number that is poised to hit 1.18 in the next quarter and is forecasted to reach 5.72 in one year’s time.
Technical Analysis of Cadence Design Systems Inc. (CDNS)
Cadence Design Systems Inc. (NASDAQ: CDNS) saw its 5-day average volume 1.83 million, a positive change from its year-to-date volume of 1.69 million. As of the previous 9 days, the stock’s Stochastic %D was 82.64%. Additionally, its Average True Range was 4.66.
During the past 100 days, Cadence Design Systems Inc.’s (CDNS) raw stochastic average was set at 88.39%, which indicates a significant increase from 63.03% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 29.16% in the past 14 days, which was higher than the 27.03% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $208.05, while its 200-day Moving Average is $180.67. Nevertheless, the first resistance level for the watch stands at $214.58 in the near term. At $217.53, the stock is likely to face the second major resistance level. The third major resistance level sits at $219.12. If the price goes on to break the first support level at $210.04, it is likely to go to the next support level at $208.45. Assuming the price breaks the second support level, the third support level stands at $205.50.
Cadence Design Systems Inc. (NASDAQ: CDNS) Key Stats
Market capitalization of the company is 57.74 billion based on 272,684K outstanding shares. Right now, sales total 3,562 M and income totals 848,950 K. The company made 1,022 M in profit during its latest quarter, and 241,800 K in sales during its previous quarter.
