Searching For Real Value In Market Debris At Cadence Design Systems, Inc. (NASDAQ: CDNS)

After Hours

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. Yahoo Finance discussed the stock recently as it posted Cadence’s 2023 Diversity in Technology Scholarship Awarded to 28 Students.

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Stocks Info

As a NASDAQ listed company, CDNS falls under the Technology sector while operating within the Software – Application industry segment. The current market capitalization of Cadence Design Systems, Inc. is $79.66B. A total of 1.12 million shares were traded on the day, compared to an average of 1.43M shares.

Insider Activity

Aside from predicting where a stock will go, investors also consider insider trades as an indicator of the stock’s future direction. During the recent three months, CDNS has seen 0 BUY and 1 SELL insider trades, representing the acquisition of 0 and the disposition of 1,250 shares. Over the last 12 months, there were 34 BUYs and 157 SELLs from insiders. Insiders purchased 470,801 shares during that period but sold 746,170.

In the most recent transaction, ZAMAN ANEEL sold 78 shares of CDNS for 290.75 per share on Feb 02. After the transaction, the Sr. Vice President now owns 63,541 company shares. In a previous transaction on Feb 01, Cunningham Paul sold 1,000 shares at 289.50 per share. CDNS shares that Sr. Vice President owns now total 85,441.

Among the insiders who sold shares, Nisewaner Karna disposed of 600 shares on Feb 01 at a per-share price of $289.50. This resulted in the SVP & General Counsel holding 18,534 shares of CDNS after the transaction. In another insider transaction, SANGIOVANNI VINCENTELLI ALBERT sold 4,500 shares at $300.00 per share on Jan 24. Company shares held by the Director now total 54,683.

In spite of price targets being rarely accurate, it tends to exert some kind influence from time to time, and was often accepted by the market as having some value. According to analysts who have offered 12-month price targets for CDNS in the last 3 months, the mean price target is $298.36 with high estimates of $330.00 and low estimates of $250.00. In terms of 52-week highs and lows, CDNS has a high of $301.61 and a low of $183.26.

As of this writing, CDNS has an earnings estimate of $1.33 per share for the current quarter. EPS was calculated based on a consensus of 9 estimates, with a high estimate of $1.35 per share and a lower estimate of $1.33. The company reported an EPS of $1.22 in the last quarter, which was 3.40% higher than expectations of $1.18.

Balance Sheet Annually/Quarterly

The balance sheet of a company shows what assets and liabilities a company has, as well as the amount, equity investors have invested. With the help of this information, a company’s financial ratios can be calculated to give investors an overview of the company’s prospects. CDNS’s latest balance sheet shows that the firm has $1.09B in Cash & Short Term Investments as of fiscal 2021. There were $454.71M in debt and $971.23M in liabilities at the time. Its Book Value Per Share was $11.45, while its Total Shareholder’s Equity was $2.74B.

Analysts Opinion

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. Currently, 0 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 Buy with a score of 4.73.

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