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RBC Capital Markets announced Cadence Design Systems Inc (NASDAQ:CDNS), bumping up its stock price target to $33.00 today

Cadence Design Systems Inc (NASDAQ:CDNS) had its price target upped to $33.00 by RBC Capital Markets in an issued report announced Thursday February 09, 2017. The bumped up target suggests a possible upside of 0.12% based on the company's last stock close price.

Yesterday Cadence Design Systems Inc (NASDAQ:CDNS) traded -0.07% lower at $29.59. The company’s 50-day moving average is $26.57 and its 200-day moving average is $25.64. The last stock close price is up 15.19% from the 200-day moving average, compared to the S&P 500 which has increased 0.06% over the same time. 1,562,288 shares of the stock were exchanged, down from an average trading volume of 1,936,720

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Cadence Design Systems Inc (NASDAQ:CDNS)

Cadence Design Systems Inc has a 52 week low of $20.32 and a 52 week high of $29.75 with a P/E ratio of 42.19 The company’s market cap is currently $0.

In addition to RBC Capital Markets reporting its target price, a total of 7 firms have reported on the stock. The consensus target price is $25.43 with 2 firms rating the stock a strong buy, 2 firms 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 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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