Cadence Design Systems, Inc. (NASDAQ:CDNS) registered a 12.04% increase, still its new closing price is 52.50% up from the company’s 1 year high of 28.00.It posted 11.44% gains in previous 5 sessions and is now the subject of 4 analysts who together assign a hold rating on stock. 1 of Wall Street analysts have an underperform rating; the 0 sells versus 3 buy or better ratings. The 9 stock analysts following this company have an average price target at $28.00, with individual PT in the $25.00-$30.00 range. The shares moved at $28.93, implying that brokerage firms see shares gaining about 50.44% in twelve months time.
Cadence Design Systems, Inc. (CDNS) SEC Form 4 News
The stock is getting much attention these days as insiders are offloading shares while they posted a 14.71% rise year to date. A Sr. Vice President at Cadence Design Systems, Inc. (CDNS) offloaded shares in a transaction closed on Thursday December 22, 2016. ZAMAN ANEEL sold 29,038 shares in the company at $25.52 each and collected $741,000 in proceeds. ZAMAN ANEEL now owns 239,153 shares in the company after this transaction. A President & CEO in the company, TAN LIP BU, disclosed a transaction on Thursday December 15, 2016 that ended up generating $2,569,000 from the sale of 100,000 shares at $25.69 per share.
Cadence Design Systems, Inc. (NASDAQ:CDNS) Upcoming Results on Tap
Cadence Design Systems, Inc. will next provide financial results for the March 2017 quarter. Stock analysts expect it to report per-share earnings of $0.31 in that period. Sales during the quarter are predicted to arrive at $467.93 million.
Earnings surprise history: Last quarter, the company posted approximately $468.98 million in revenue and EPS of $0.34. The mean forecast was for $468.81 million and $0.33 a share, respectively. One quarter earlier, revenue for the stock was at $446.22 million, with earnings at $0.30/share.
Cadence Design Systems, Inc. (CDNS) Brokerage Update
Cadence Design Systems, Inc. (CDNS) is in JP Morgan’s research list so their analyst rating change is noteworthy. These shares were downgraded to Underweight from Neutral by JP Morgan, according to news reported on Monday December 12, 2016.Another important research note was issued by Needham on Tuesday June 14, 2016.The firm downgraded CDNS to Hold from Buy. Over the last six months and over the last three months, the shares of Cadence Design Systems, Inc. (CDNS), have changed 19.45% and 14.98%, respectively.