How Much Dividend Does Cadence Design Systems Inc. (CDNS) Pay?

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Cadence Design Systems Inc. (NASDAQ:CDNS) finished Friday with a subtraction of -$1.29 to close at $160.64, a downside of -0.80 percent. An average of 721,060 shares of common stock have been traded in the last five days. There was a fall of -$1.12 in the past week, and it reached a new high 5 times over the past 12 months. The last 20 days have seen an average of 1,278,195 shares traded, while the 50-day average volume stands at 1,611,924.

CDNS stock has decreased by -6.63% in the last month. The company shares reached their 1-month lowest point of $158.18 on 12/28/22. With the stock rallying to its 52-week high on 08/16/22, shares of the company touched a low of $132.32 and a high of $194.97 in 52 weeks. It has reached a new high 4 times so far this year and lost -13.80% or -$25.71 in price. In spite of this, the price is down -17.61% from the 52-week high.


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Insider Transactions

CDNS stock investors should be aware that Cadence Design Systems Inc. (CDNS) stock had its last reported insider trading activity 10 days ago on Dec 21. In this transaction, the insider spent $6,581,925. Sr. Vice President, Cunningham Paul, disposed of 250 shares at a price of $170.45 on Dec 05. The insider now owns more than $42,612 worth of shares. Prior to that, Director SANGIOVANNI VINCENTELLI ALBERT went on to Sale 7,550 shares at $175.62 each on Dec 01. An amount of $1,325,960 was transacted.

Valuation Metrics

Cadence Design Systems Inc. (CDNS) has a trailing price-to-earnings (P/E) ratio of 56.54. The stock’s beta is 1.09. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 12.85, the price-to-book (PB) ratio at 16.08, and the price-to-cash flow ratio at 40.41.

Financial Health

The quick ratio of Cadence Design Systems Inc. for the three months ended September 29 was 1.20, and the current ratio was 1.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.24 and a total debt to equity ratio of 0.29 for the quarter ending September 29. Its gross profit as reported stood at $2.68 billion compared to revenue of $2.99 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Cadence Design Systems Inc.’s return on assets was 17.30%.

Earnings Surprise

For the three-month period that ended September 29, Cadence Design Systems Inc. had $647.8 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $186.31 million in the quarter, while revenues of $186.92 million were grew 5.37%. The analyst consensus anticipated Cadence Design Systems Inc.’s latest quarter earnings to come in at $0.97 per share, but it turned out to be $1.06, a 9.30% surprise. For the quarter, EBITDA amounted to $291.51 million. Shareholders own equity worth $274.32 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Cadence Design Systems Inc. (CDNS) price momentum. RSI 9-day as of the close on 30 December was 45.14%, suggesting the stock is Neutral, with historical volatility in this time frame at 22.69%.

As of today, CDNS’s price is $160.48 -0.69% or -$1.12 from its 5-day moving average. CDNS is currently trading -9.13% lower than its 20-day SMA and -12.98% lower than its 100-day SMA. However, the stock’s current price level is +4.50% above the SMA50 and +6.73% above the SMA200.

The stochastic %K and %D were 13.01% and 10.49%, respectively, and the average true range (ATR) was 4.34. With the 14-day stochastic at 15.08% and the average true range at 4.58, the RSI (14) stands at 46.94%. The stock has reached -1.13 on the 9-day MACD Oscillator while the 14-day reading was at -2.42.

Analyst Ratings

BofA Securities upgraded Cadence Design Systems Inc. (NASDAQ: CDNS) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Cadence Design Systems Inc. (CDNS) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CDNS, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 10 others rate it as a “buy”.

What is CDNS’s price target for the next 12 months?

Analysts predict a range of price targets between $163.40 and $215.00, with a median target of $200.00. Taking a look at these predictions, the average price target given by analysts for Cadence Design Systems Inc. (CDNS) stock is $191.67.

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