Cadence Design Systems, Inc. (NASDAQ:CDNS) stock is presently standing at about $31.54 and lots of equity research firms seem to have a target price set on the stock. The median one-year price target of 6 analysts covering the company is $30.00, which suggests the stock could still rise over -5 percent. The highest analyst price target is $33.00, which implies a rally of 95 percent. And a quick view of analyst notes show that 1 are rating the stock a buy while 3 rate CDNS a strong buy. There are 4 equity research firms advocating a Hold and 0 consider it Sell.
JP Morgan analysts provided their view on Cadence Design Systems, Inc. (NASDAQ:CDNS) recently. The rating firm issued a Underweight rating to this company in a research note released on Dec 12, 2016. Credit Suisse analysts disclosed their opinion on Cadence Design Systems, Inc. (NASDAQ:CDNS) recently. The rating firm gave a Neutral rating to this stock in a research note published on Oct 19, 2016. According to a research note disclosed on Jun 14, 2016, analysts at Needham have lowered their rating on these shares from Buy to Hold.
Cadence Design Systems, Inc. (NASDAQ:CDNS) Transactions Roundup
Several insiders were part of recent insider activity for the stock. Its Sr. VP, CFO RIBAR GEOFFREY G sold 40,000 company shares for 1224800, in a transaction on 2017-02-21. Following the transaction, the Sr. VP, CFO is left with a stake of 215,486 shares, currently valued at $6796428. Meanwhile, Sr. Vice President BECKLEY THOMAS P sold 34,641 shares worth $1023990, through a transaction dated 2017-02-15. Following the completion of the transaction, the insider is left with a stake of 231,484 shares, amounting $7301005.36. CDNS Sr. VP, CFO RIBAR GEOFFREY G also sold 50,000 shares, at a stock price of $29.8. This transaction occurred on 2017-02-14 totals $1490000. After this transaction, the insider’s stake stands at 199,986 shares, with a market value of $6307558.
Executives hold 3.90 percent of the stock. Chao Shiu-Ping is one of the biggest insider owners in Cadence Design Systems, Inc. (NASDAQ:CDNS), according to U.S. Securities and Exchange Commission (SEC) filings. The insider owns 5,203,333 shares which have current market value of around $164113122.82.Michael J. Fister is another major inside shareholder in the company. The insider owns 886,145 shares as of 0.32%, currently worth $27949013.3. Mr. Lip-Bu Tan is ranked as third insider holder of the stock. This insider holds 483,332 shares with a market value around $15244291.28 as of recent close.
Cadence Design Systems, Inc. (NASDAQ:CDNS) Earnings Outlook
In Cadence Design Systems, Inc. (NASDAQ:CDNS)’s latest quarter, EPS moved to $0.34 from $0.30 in preceding quarter and revenues reached at $468.98M compared to $446.22M. Analysts had expected Cadence Design Systems, Inc. (NASDAQ:CDNS) to post net income of about $0.33 per share on $468.81M in revenue. Looking ahead, analysts on average predict that earnings for the current quarter would come in in the range of $0.31 to $0.32. That is compared with the $0.28 in EPS it reported during the same period a year ago.