Cadence Design Systems (NASDAQ:CDNS) Target Raised by UBS Group AG to $170.00

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Cadence Design Systems stock has undergone multiple analysts rating changes in the recent past.  Cadence Design Systems stock Target Raised by UBS Group AG on 10/25/2021. In a note to investors, the firm issued a new target price of $170.00. The analysts previously had $155.00 target price. UBS Group AG’s price target would indicate a potential upside of 1.94% from the stock’s previous close.

Shares of Cadence Design Systems traded up $0.50 on friday, reaching $167.26. 943 shares of the stock traded hands, compared to its average volume of 1090049. On friday, Shares of Cadence Design Systems closed at $167.26. The firm’s 50 day moving average is $158.54 and its 200 day moving average is $141.12.Cadence Design Systems  has a 12 month low of $105.93 and a 12 month high of $169.33. While on yearly highs and lows, Cadence Design Systems today has traded high as $169.33 and has touched $167.26 on the downward trend.

Cadence Design Systems Earnings and What to expect: 

Cadence Design Systems last issued its earnings data on July 25th, 2021. The software maker reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.10. The company earned $728.29 million during the quarter, compared to the consensus estimate of $715.77 million. Cadence Design Systems has generated $2.11 earnings per share over the last year ($2.43 diluted earnings per share) and currently has a price-to-earnings ratio of 68.7. Earnings for Cadence Design Systems are expected to grow by 11.11% in the coming year, from $2.52 to $2.80 per share. Cadence Design Systems has confirmed that its next quarterly earnings report will be published on Monday, October 25th, 2021. Cadence Design Systems will be holding an earnings conference call on Monday, October 25th at 5:00 PM Eastern. Interested parties can .

Earnings for Cadence Design Systems are expected to grow by 11.11% in the coming year, from $2.52 to $2.80 per share. The P/E ratio of Cadence Design Systems is 68.63, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 15.09. The P/E ratio of Cadence Design Systems is 68.63, which means that it is trading at a more expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 41.15. Cadence Design Systems has a PEG Ratio of 5.68. PEG Ratios above 1 indicate that a company could be overvalued. Cadence Design Systems has a P/B Ratio of 18.65. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Cadence Design Systems (NASDAQ:CDNS) Moving Average Technical Analysis

5 day Moving Average is $$161.73 And 5 day price change is $10.98 (7.05%)  with average volume for 5 day average is 1,037,980. While technical analysis for average 20 days shows significant difference, 20 day moving average is  $154.65 and 20 day price change is $3.21 (1.96%) and average 20 day moving volume is 1,034,665. 50 day moving average is $158.54  and 50 day price change is $14.50 ( 9.52%)  and with average volume for 50 days is : 1,046,976. 200 day moving average is $141.12  and 200 day price change is $29.71 (21.68%)  and with average volume for 200 days is : 1,452,225.

Other owners latest trading in Cadence Design Systems :

  • On 10/25/2021 shares held by Sumitomo Mitsui Trust Holdings Inc. were 899,567 which equates to market value of $136.23M and appx 0.10% owners of Cadence Design Systems
  • On 10/22/2021 shares held by Ferguson Wellman Capital Management Inc. were 5,130 which equates to market value of $0.78M and appx 0.00% owners of Cadence Design Systems
  • On 10/22/2021 shares held by James Investment Research Inc. were 12,105 which equates to market value of $1.83M and appx 0.20% owners of Cadence Design Systems
  • In total Institutional ownership equates to Institutional Ownership Percentage: 83.23% for Cadence Design Systems

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