Analyst Rating Update on Cadence Design Systems (CDNS)

Cadence Design Systems (CDNS) : The consensus on Cadence Design Systems (CDNS) based on 8 analyst recommendation on the company stock is 1.88, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 4 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 3 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Cadence Design Systems (CDNS) : 8 Wall Street analysts covering Cadence Design Systems (CDNS) believe that the average level the stock could reach for the short term is $26.31. The maximum price target given is $30 and the minimum target for short term is around $21, hence the standard deviation is calculated at $2.91.

For the current week, the company shares have a recommendation consensus of Buy.


Cadence Design Systems (NASDAQ:CDNS): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $23.98 and $23.88 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $24.22. The buying momentum continued till the end and the stock did not give up its gains. It closed at $24.22, notching a gain of 1.13% for the day. The total traded volume was 1,110,192 . The stock had closed at $23.95 on the previous day.

Cadence Design Systems, Inc. (Cadence) develops system design enablement (SDE) solutions that are used to design whole electronics systems and integrated circuits (ICs) and electronic devices. The Companys SDE product offerings include electronic design automation (EDA), software, emulation and prototyping hardware, and two categories of intellectual property (IP) verification IP (VIP) and design IP. The Company provides maintenance for its software, emulation hardware and IP product offerings. It also provides engineering services related to methodology, education, hosted design solutions and design services for ICs and development of custom IP. The companys customers include electronics systems and semiconductor companies, Internet service providers and other technology companies that deliver a range of electronics products in market segments, such as mobile and consumer devices, communications, cloud and data center infrastructure, medical systems and other devices.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *