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A statement released earlier today by RBC Capital about Cadence Design (NASDAQ:CDNS) bumps the target price to $33.00

Having a price of $29.24, Cadence Design (NASDAQ:CDNS) traded -0.07% lower on the day. With the last close up 15.19% from the two hundred day average, compared with the Standard & Poor's 500 Index which has increased 0.06% over the same period. CDNS has recorded a 50-day average of $26.57 and a two hundred day average of $25.64. Trade Volume was down over the average, with 1,562,288 shares of CDNS changing hands under the typical 1,936,720

RBC Capital raised the target price of Cadence Design (NASDAQ:CDNS) to $33.00 reporting a potential upside of 0.13%.

Recent Performance Chart

Cadence Design (NASDAQ:CDNS)

Cadence Design has P/E ratio of 42.19 with a 52 week low of $20.32 and a 52 week high of $29.75 and has a market cap of $0.

In addition to RBC Capital reporting its stock price target, a total of 7 brokers have issued a report on the company. The average stock price target is $25.43 with 2 brokers rating the stock a strong buy, 2 brokers rating the stock a buy, 4 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.

General Information About Cadence Design (NASDAQ:CDNS)

Cadence Design Systems, Inc. (Cadence) develops system design enablement (SDE) solutions that are used to design whole electronics systems and integrated circuits (ICs) and electronic devices. The Company's SDE product offerings include electronic design automation (EDA), software, emulation and prototyping hardware, and two categories of intellectual property (IP): verification IP (VIP) and design IP. The Company provides maintenance for its software, emulation hardware and IP product offerings. The Company offers products and technologies for Functional Verification, including Emulation and Prototyping Hardware; Digital IC Design and Signoff; Custom IC Design; System Interconnect and Analysis, and IP. It offers products and services to electronics systems and semiconductor companies, Internet service providers and other technology companies that deliver a range of electronics products in market segments, such as mobile and consumer devices, communications and personal computers.

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