DA Davidson issued a report on Cadence Design Systems Inc (NASDAQ:CDNS), bumping up its stock price target to $30.00 today
- Updated: October 10, 2016
In a report released on 10/10/2016 DA Davidson raised the target price of Cadence Design Systems Inc (NASDAQ:CDNS) from $25.00 to $30.00 indicating a possible upside of 0.18%.
Previously on 6/06/2016, RBC Capital Markets reported about Cadence Design Systems Inc (NASDAQ:CDNS) raised the target price from $0.00 to $29.00. At the time, this indicated a possible upside of 0.17%.
Yesterday Cadence Design Systems Inc (NASDAQ:CDNS) traded 3.02% higher at $25.53. The company’s 50-day moving average is $25.20 and its 200-day moving average is $24.45. The last stock close price is up 7.56% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 1,295,431 shares of the stock were exchanged, down from an average trading volume of 1,866,720
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Cadence Design Systems Inc has a price-earnings ratio of 31.16 with a one year low of $18.32 and a one year high of $26.45 CDNS’s total market value is presently $0.
A total of 7 equity analysts have released a research note on CDNS. Two equity analysts rating the company a strong buy, two equity analysts rating the company a buy, four equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $25.43.
Brief Synopsis About Cadence Design Systems Inc (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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