Cadence Design Systems (CDNS) Set to Announce Earnings on Monday

Cadence Design Systems (NASDAQ:CDNS) is scheduled to be posting its quarterly earnings results after the market closes on Monday, October 28th. Analysts expect Cadence Design Systems to post earnings of $1.44 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $257.30 on Friday. The stock has a market cap of $70.09 billion, a P/E ratio of 67.01, a PEG ratio of 3.37 and a beta of 1.02. The company’s 50-day simple moving average is $267.42 and its 200 day simple moving average is $282.89. Cadence Design Systems has a twelve month low of $228.66 and a twelve month high of $328.99. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.23.

Insider Activity

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $276.24, for a total transaction of $414,360.00. Following the sale, the director now directly owns 45,051 shares of the company’s stock, valued at $12,444,888.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $276.24, for a total transaction of $414,360.00. Following the sale, the director now directly owns 45,051 shares of the company’s stock, valued at $12,444,888.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Paul Cunningham sold 650 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total transaction of $173,056.00. Following the sale, the vice president now directly owns 65,194 shares in the company, valued at $17,357,250.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,347 shares of company stock valued at $7,728,272 over the last three months. 1.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Rosenblatt Securities reissued a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research note on Monday, October 7th. Piper Sandler raised shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price on the stock in a research note on Tuesday, August 6th. Oppenheimer assumed coverage on shares of Cadence Design Systems in a research note on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 target price on the stock. Mizuho began coverage on shares of Cadence Design Systems in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average target price of $323.42.

About Cadence Design Systems

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.