On Tuesday, Cadence Design Systems, Inc. (NASDAQ: CDNS) was 1.88% up from the session before settling in for the closing price of $310.92. A 52-week range for CDNS has been $217.77 – $328.99.
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Annual sales at Technology sector company grew by 13.90% over the past five years. When this article was written, the company’s average yearly earnings per share was at 15.15%. With a float of $269.72 million, this company’s outstanding shares have now reached $271.71 million.
Let’s look at the performance matrix of the company that is accounted for 11200 employees.
Cadence Design Systems, Inc. (CDNS) Insider Updates
Also, it is sometimes useful to examine the sentiment of large-scale investors toward Cadence Design Systems, Inc. stocks. The insider ownership of Cadence Design Systems, Inc. is 0.99%, while institutional ownership is 89.33%. The most recent insider transaction that took place on Jul 01 ’24, was worth 3,058,398. In this transaction Sr. Vice President of this company sold 10,000 shares at a rate of $305.84, taking the stock ownership to the 95,408 shares. Before that another transaction happened on Jul 01 ’24, when Company’s Sr. Vice President sold 650 for $307.75, making the entire transaction worth $200,038. This insider now owns 65,844 shares in total.
Cadence Design Systems, Inc. (CDNS) Performance Highlights and Predictions
According to the Wall Street analysts, stocks earnings will be around 15.15% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 17.11% during the next five years compared to 25.42% growth over the previous five years of trading.
Cadence Design Systems, Inc. (NASDAQ: CDNS) Trading Performance Indicators
You can see what Cadence Design Systems, Inc. (CDNS) is doing with its current performance indicators. In the most recent quarter, the stock posted a quick ratio of 1.19. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 21.16. Likewise, its price to free cash flow for the trailing twelve months is 71.33.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 3.84, a number that is poised to hit 1.23 in the next quarter and is forecasted to reach 6.90 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 1.51 million, a negative change from its year-to-date volume of 1.56 million. As of the previous 9 days, the stock’s Stochastic %D was 27.07%. Additionally, its Average True Range was 7.02.
During the past 100 days, Cadence Design Systems, Inc.’s (CDNS) raw stochastic average was set at 79.16%, which indicates a significant increase from 51.53% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 29.02% in the past 14 days, which was higher than the 26.96% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $294.64, while its 200-day Moving Average is $280.58. Nevertheless, the first resistance level for the watch stands at $319.05 in the near term. At $321.31, the stock is likely to face the second major resistance level. The third major resistance level sits at $325.35. If the price goes on to break the first support level at $312.75, it is likely to go to the next support level at $308.71. Assuming the price breaks the second support level, the third support level stands at $306.45.
Cadence Design Systems, Inc. (NASDAQ: CDNS) Key Stats
There are 272,423K outstanding shares of the company, which has a market capitalization of 86.30 billion. As of now, sales total 4,090 M while income totals 1,041 M. Its latest quarter income was 1,009 M while its last quarter net income were 247,640 K.
