Cadence Design Systems, Inc. (NASDAQ: CDNS) on Tuesday, plunged -0.28% from the previous trading day, before settling in for the closing price of $274.08. Within the past 52 weeks, CDNS’s price has moved between $227.05 and $328.99.
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Annual sales at Technology sector company grew by 13.90% over the past five years. The company achieved an average annual earnings per share of 14.11%. With a float of $271.21 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. In terms of profitability, gross margin is 88.1%, operating margin of 28.31%, and the pretax margin is 30.94%.
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 0.95%, while institutional ownership is 89.72%. The most recent insider transaction that took place on Sep 17 ’24, was worth 413,970. In this transaction Director of this company sold 1,500 shares at a rate of $275.98, taking the stock ownership to the 43,551 shares. Before that another transaction happened on Sep 17 ’24, when Company’s SVP & General Counsel sold 659 for $275.98, making the entire transaction worth $181,871. This insider now owns 16,029 shares in total.
Cadence Design Systems, Inc. (CDNS) Performance Highlights and Predictions
As on 6/30/2024, Multinational firm has announced its last quarter scores, in which it reported 1.26 earnings per share (EPS) for the period topping the consensus outlook (set at 1.2) by 0.06. Wall Street market experts anticipate that the next fiscal year will bring earnings of 1.98 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around 14.11% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 17.55% 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
Cadence Design Systems, Inc. (CDNS) is currently performing well based on its current performance indicators. A quick ratio of 1.32 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 17.98. Likewise, its price to free cash flow for the trailing twelve months is 79.39.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 3.87, a number that is poised to hit 1.44 in the next quarter and is forecasted to reach 6.91 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 1.73 million, a positive change from its year-to-date volume of 1.72 million. As of the previous 9 days, the stock’s Stochastic %D was 57.54%. Additionally, its Average True Range was 7.82.
During the past 100 days, Cadence Design Systems, Inc.’s (CDNS) raw stochastic average was set at 36.52%, which indicates a significant decrease from 70.56% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 29.35% in the past 14 days, which was lower than the 35.62% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $268.81, while its 200-day Moving Average is $288.22. Nevertheless, the first resistance level for the watch stands at $276.11 in the near term. At $278.90, the stock is likely to face the second major resistance level. The third major resistance level sits at $281.62. If the price goes on to break the first support level at $270.60, it is likely to go to the next support level at $267.88. Assuming the price breaks the second support level, the third support level stands at $265.09.
Cadence Design Systems, Inc. (NASDAQ: CDNS) Key Stats
Market capitalization of the company is 74.84 billion based on 272,423K outstanding shares. Right now, sales total 4,090 M and income totals 1,041 M. The company made 1,061 M in profit during its latest quarter, and 229,520 K in sales during its previous quarter.
