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Tuesday, March 21, 2023

Today, Cadence Design Systems Inc. (NASDAQ: CDNS) Takes Center Stage

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for Cadence Design Systems Inc. (CDNS) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.03, or 0.02%, to $196.30. The Cadence Design Systems Inc. has recorded 192,018 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that Cadence to Invest $50 Million to Support Racial Equity.

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Stocks Info

The company is listed on the NASDAQ and operates within the Software – Application industry segment. At the end of the last regular session, the stock closed at $196.27 and fluctuated between $198.57 as its day high and $193.12 as its day low. The current market capitalization of Cadence Design Systems Inc. is $53.77B. A total of 2.31 million shares were traded on the day, compared to an average of 1.49M shares.

Insider Activity

Furthermore, investors take into consideration insider trades when predicting a stock’s future trajectory. During the recent three months, CDNS has seen 2 BUY and 28 SELL insider trades, representing the acquisition of 85,000 and the disposition of 201,162 shares. Over the last 12 months, there were 42 BUYs and 163 SELLs from insiders. Insiders purchased 718,702 shares during that period but sold 1,318,363.

In the most recent transaction, WALL JOHN M sold 37,260 shares of CDNS for 199.88 per share on Mar 09. After the transaction, the Sr. VP & CFO now owns 120,740 company shares. In a previous transaction on Mar 06, Nisewaner Karna sold 100 shares at 196.94 per share. CDNS shares that Corporate VP, General Counsel owns now total 15,273.

Among the insiders who sold shares, TAN LIP BU disposed of 30,000 shares on Feb 28 at a per-share price of $194.07. This resulted in the Executive Chair holding 868,040 shares of CDNS after the transaction. In another insider transaction, ZAMAN ANEEL sold 1,553 shares at $193.26 per share on Feb 28. Company shares held by the Sr. Vice President now total 86,053.

It has been observed that price targets are rarely accurate, but they can exert some influence from time to time, and are often accepted as valuable in the market. According to analysts who have offered 12-month price targets for CDNS in the last 3 months, the mean price target is $215.00 with high estimates of $235.00 and low estimates of $200.00. In terms of 52-week highs and lows, CDNS has a high of $202.96 and a low of $132.32.

As of this writing, CDNS has an earnings estimate of $0.92 per share for the current quarter. EPS was calculated based on a consensus of 11 estimates, with a high estimate of $1.03 per share and a lower estimate of $0.89. The company reported an EPS of $1.08 in the last quarter, which was 12.50% higher than expectations of $0.96.

Balance Sheet Annually/Quarterly

An equity investor’s investment can be viewed on a balance sheet by looking at what assets and liabilities the company has. Investors can determine the company’s prospects by calculating its financial ratios based on this information.

Analysts Opinion

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. Currently, 16 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for CDNS is Underweight with a score of 4.55. A total of 10 analysts rated the stock as Buy while 3 rated it as Overweight while 3 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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