Somewhat Favorable News Coverage Somewhat Unlikely to Impact Cadence Design Systems (CDNS) Share Price
Media headlines about Cadence Design Systems (NASDAQ:CDNS) have trended somewhat positive recently, Accern Sentiment Analysis reports. Accern identifies negative and positive news coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Cadence Design Systems earned a daily sentiment score of 0.21 on Accern’s scale. Accern also assigned news coverage about the software maker an impact score of 46.4300492226114 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Here are some of the news articles that may have impacted Accern Sentiment’s rankings:
- Cadence Design Systems, Inc. (CDNS) estimated to achieve EPS … – Wallstreet Investorplace (wallstreetinvestorplace.com)
- Cadence Design Systems, Inc., (NASDAQ: CDNS) – Investor’s Roundup (Volatility in Focus) – Stock Watch (stocksnewstimes.com)
- Investors watching Analysts Rating of Cadence Design Systems, Inc. (CDNS) – Wall Street Morning (wallstreetmorning.com)
- Cadence Design Systems, Inc. (CDNS) estimated to achieve EPS growth of -45.00% for this year – Wallstreet Investorplace (wallstreetinvestorplace.com)
- Analysts’ Recommendation in Spotlight – Cadence Design Systems Inc (NASDAQ: CDNS) – Stocks Pen (stockspen.com)
Cadence Design Systems (NASDAQ:CDNS) traded down $0.14 during trading hours on Wednesday, reaching $39.03. 157,463 shares of the company’s stock were exchanged, compared to its average volume of 2,425,877. The firm has a market cap of $11,229.90, a P/E ratio of 52.93, a PEG ratio of 3.88 and a beta of 1.08. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.53 and a quick ratio of 1.47. Cadence Design Systems has a twelve month low of $30.35 and a twelve month high of $46.00.
Several analysts have issued reports on CDNS shares. KeyCorp reaffirmed a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, November 26th. BidaskClub downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Friday, January 19th. Zacks Investment Research downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Credit Suisse Group restated a “neutral” rating and issued a $43.00 price target (up from $37.00) on shares of Cadence Design Systems in a research note on Thursday, February 1st. Finally, ValuEngine raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Cadence Design Systems presently has an average rating of “Hold” and an average price target of $44.20.
In related news, CFO John M. Wall sold 750 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $43.95, for a total value of $32,962.50. Following the sale, the chief financial officer now directly owns 109,323 shares in the company, valued at approximately $4,804,745.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lip Bu Tan sold 100,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $43.52, for a total value of $4,352,000.00. Following the completion of the sale, the chief executive officer now owns 533,333 shares in the company, valued at $23,210,652.16. The disclosure for this sale can be found here. In the last three months, insiders sold 261,089 shares of company stock valued at $11,328,803. 2.55% of the stock is currently owned by insiders.
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Cadence Design Systems Company Profile
Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).
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