Press coverage about Cadence Design Systems (NASDAQ:CDNS) has been trending somewhat positive this week, Accern reports. The research group identifies negative and positive media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Cadence Design Systems earned a news impact score of 0.21 on Accern’s scale. Accern also assigned news headlines about the software maker an impact score of 45.6882390818178 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Cadence Design Systems Target of Unusually Large Options Trading (CDNS) (americanbankingnews.com)
- Brokerages Anticipate Cadence Design Systems Inc (CDNS) Will Announce Earnings of $0.38 Per Share (americanbankingnews.com)
- What’s in the Offing for Cadence (CDNS) in Q1 Earnings? (finance.yahoo.com)
- What's in the Offing for Cadence (CDNS) in Q1 Earnings? (finance.yahoo.com)
- Cadence Design Systems (CDNS) Given New $39.00 Price Target at Royal Bank of Canada (americanbankingnews.com)
Cadence Design Systems stock traded down $0.36 during midday trading on Friday, hitting $37.02. 2,960,028 shares of the stock were exchanged, compared to its average volume of 2,542,424. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.53 and a quick ratio of 1.47. The firm has a market capitalization of $10,811.11, a price-to-earnings ratio of 34.92, a PEG ratio of 3.73 and a beta of 1.14. Cadence Design Systems has a 52 week low of $31.22 and a 52 week high of $46.00.
Several research analysts recently weighed in on CDNS shares. Zacks Investment Research lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. BidaskClub lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Credit Suisse Group reissued a “neutral” rating and set a $43.00 price objective (up previously from $37.00) on shares of Cadence Design Systems in a research note on Thursday, February 1st. ValuEngine raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, DA Davidson raised shares of Cadence Design Systems from a “neutral” rating to a “buy” rating in a research note on Thursday, April 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $44.20.
In other Cadence Design Systems news, CFO John M. Wall sold 750 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $37.93, for a total transaction of $28,447.50. Following the sale, the chief financial officer now directly owns 129,673 shares in the company, valued at approximately $4,918,496.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Anirudh Devgan sold 40,063 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $38.54, for a total transaction of $1,544,028.02. Following the sale, the president now owns 403,387 shares in the company, valued at $15,546,534.98. The disclosure for this sale can be found here. Insiders have sold a total of 42,584 shares of company stock worth $1,639,670 over the last 90 days. Corporate insiders own 2.55% of the company’s stock.
WARNING: This article was published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States & international copyright legislation. The original version of this article can be read at https://stocknewstimes.com/2018/04/20/cadence-design-systems-cdns-getting-somewhat-positive-press-coverage-analysis-shows.html.
About Cadence Design Systems
Cadence Design Systems, Inc provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel simulation platform; Palladium Z1, a verification computing platform; and Protium S1 field-programmable gate array prototyping platform.
Receive News & Ratings for Cadence Design Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Design Systems and related companies with MarketBeat.com's FREE daily email newsletter.