Impact of Brokerage Rating on Cadence Design Systems, Inc.(CDNS)

Many Cadence Design Systems, Inc.(CDNS) Stock Research Financial Advisors from Investment Banking firms have advised their client and investors on the stock. Company shares were Reiterated by RBC Capital Mkts on Feb 9, 2017 to Outperform, Raises Price Target to $ 33 from a previous price target of $30 .Cadence Design Systems Inc was Downgraded by JP Morgan to Underweight on Dec 12, 2016.

Company has reported several Insider transactions to the SEC, on Feb 9, 2017, James J Cowie (Sr. VP, General Counsel) sold 2,087 shares at 29.31 per share price.On Feb 7, 2017, Aneel Zaman (Sr. Vice President) sold 8,325 shares at 29.31 per share price.On Feb 7, 2017, Geoffrey G Ribar (Sr. VP, CFO) sold 70,000 shares at 29.46 per share price.

Cadence Design Systems Inc Last issued its quarterly earnings results on Feb 1, 2017. The company reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.01. Analyst had a consensus of $0.33. The company had revenue of $469.00 million for the quarter, compared to analysts expectations of $468.81 million. The companys revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.

Cadence Design Systems, Inc. (NASDAQ:CDNS) has received a short term rating of hold from experts at Zacks with a rank of 3. The stock has been rated an average of 2.13 by 8 Brokerage Firm. 4 Wall Street Firms have rated the stock as a strong buys. 1 stock experts have also suggested a buy rating. 2 Brokerage Firms have advised hold. 1 Analysts have rated it as strong sell.

Cadence Design Systems, Inc. (NASDAQ:CDNS): 6 Analyst have given the stock of Cadence Design Systems, Inc. (NASDAQ:CDNS) a near short term price target of $29.67. The standard deviation reading, which is a measure by which the stock price is expected to swing away from the mean estimate, is at $3.2. The higher price target estimate is at $33 while the lower price estimates are fixed at $25.

Cadence Design Systems, Inc. (NASDAQ:CDNS) rose 0.34% or 0.1 points on Tuesday and made its way into the gainers of the day. After trading began at $29.64 the stock was seen hitting $29.94 as a peak level and $29.64 as the lowest level. The stock ended up at $29.92. The daily volume was measured at 1,289,694 shares. The 52-week high of the share price is $29.94 and the 52-week low is $20.28. The company has a market cap of $8,341 million.

Cadence Design Systems, Inc. provides comprehensive software and other technology and offers design and methodology services for the product development requirements of the worlds leading electronics companies. Cadence licenses its leading-edge electronic design automation software and hardware technology and provides a range of services to companies throughout the world to help optimize their product development processes.

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