Cadence Design Systems (CDNS) Receives Daily News Impact Score of 0.17

Press coverage about Cadence Design Systems (NASDAQ:CDNS) has been trending somewhat positive this week, Accern reports. The research group identifies negative and positive media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Cadence Design Systems earned a news impact score of 0.17 on Accern’s scale. Accern also assigned news headlines about the software maker an impact score of 46.4818398999661 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s analysis:

Shares of Cadence Design Systems (NASDAQ:CDNS) traded up $0.38 on Friday, reaching $39.68. 2,503,583 shares of the company’s stock were exchanged, compared to its average volume of 2,364,360. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.47 and a current ratio of 1.53. Cadence Design Systems has a 1 year low of $30.35 and a 1 year high of $46.00. The company has a market capitalization of $11,224.24, a price-to-earnings ratio of 53.62, a P/E/G ratio of 3.88 and a beta of 1.08.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Wednesday, January 31st. The software maker reported $0.39 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.39. Cadence Design Systems had a net margin of 10.50% and a return on equity of 31.28%. The firm had revenue of $501.70 million for the quarter, compared to analyst estimates of $496.20 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. research analysts forecast that Cadence Design Systems will post 0.85 EPS for the current year.

Several research firms recently weighed in on CDNS. ValuEngine raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. BidaskClub lowered shares of Cadence Design Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Credit Suisse Group reissued a “neutral” rating and set a $43.00 price objective (up previously from $37.00) on shares of Cadence Design Systems in a research note on Thursday, February 1st. Zacks Investment Research lowered shares of Cadence Design Systems from a “hold” rating to a “strong sell” rating in a research note on Monday, February 5th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, November 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Cadence Design Systems currently has a consensus rating of “Hold” and a consensus target price of $44.20.

In other news, President Anirudh Devgan sold 44,526 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $45.01, for a total value of $2,004,115.26. Following the sale, the president now owns 377,019 shares of the company’s stock, valued at $16,969,625.19. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John M. Wall sold 750 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $43.69, for a total transaction of $32,767.50. Following the completion of the sale, the chief financial officer now directly owns 110,073 shares in the company, valued at approximately $4,809,089.37. The disclosure for this sale can be found here. In the last ninety days, insiders sold 261,839 shares of company stock worth $11,361,571. Insiders own 2.55% of the company’s stock.

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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).

Insider Buying and Selling by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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