Cadence Design Systems (NASDAQ:CDNS) Receiving Favorable News Coverage, Study Finds
Media headlines about Cadence Design Systems (NASDAQ:CDNS) have trended positive on Sunday, Accern Sentiment reports. Accern rates the sentiment of news coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Cadence Design Systems earned a media sentiment score of 0.32 on Accern’s scale. Accern also gave news headlines about the software maker an impact score of 42 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news headlines that may have effected Accern Sentiment Analysis’s scoring:
- STORE Capital Corporation (STOR) Stocks Try To Grab Potentials – Cadence Design Systems, Inc. (CDNS) – Investing News Update (investingbizz.com)
- ETFs with exposure to Cadence Design Systems, Inc. : July 14, 2017 (finance.yahoo.com)
- Noteworthy ETF Inflows: VB, ALGN, DPZ, CDNS – Nasdaq (nasdaq.com)
- (CDNS) is up at $33.90 Cadence Design Systems Announces Second… (highlightpress.com)
- Nagoya University and Cadence Collaborate to Port AUTOSAR-Compliant TOPPERS Automotive Kernel to Tensilica … – GuruFocus.com (gurufocus.com)
Cadence Design Systems (NASDAQ:CDNS) traded up 0.81% during midday trading on Friday, hitting $34.73. 958,922 shares of the stock traded hands. Cadence Design Systems has a 52 week low of $23.83 and a 52 week high of $35.69. The stock has a market capitalization of $9.71 billion, a P/E ratio of 43.96 and a beta of 0.93. The stock’s 50-day moving average price is $34.17 and its 200-day moving average price is $30.66.
Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, April 24th. The software maker reported $0.32 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.32. Cadence Design Systems had a net margin of 11.97% and a return on equity of 26.52%. The business had revenue of $477 million for the quarter, compared to analysts’ expectations of $474.23 million. During the same quarter in the previous year, the business posted $0.28 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. Equities research analysts expect that Cadence Design Systems will post $1.38 EPS for the current fiscal year.
Several brokerages have issued reports on CDNS. BidaskClub raised shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a report on Thursday. Royal Bank Of Canada reissued a “buy” rating on shares of Cadence Design Systems in a research note on Friday, July 7th. DA Davidson cut shares of Cadence Design Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 25th. Finally, Zacks Investment Research cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Cadence Design Systems has a consensus rating of “Hold” and an average price target of $29.83.
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In other Cadence Design Systems news, VP James J. Cowie sold 47,500 shares of the business’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $32.13, for a total transaction of $1,526,175.00. Following the transaction, the vice president now owns 140,832 shares in the company, valued at $4,524,932.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James J. Cowie sold 55,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $33.28, for a total transaction of $1,830,400.00. Following the transaction, the vice president now owns 137,332 shares in the company, valued at approximately $4,570,408.96. The disclosure for this sale can be found here. Insiders have sold 446,413 shares of company stock worth $14,664,545 in the last quarter. Company insiders own 2.55% of the company’s stock.
About Cadence Design Systems
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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