Cadence Design Sys (NASDAQ:CDNS):
Cadence’s Alan Lindstrom to Present at MKM Partners Entertainment, Travel and Technology Conference.
In the market the company is trading up from yesterday’s close of 44.04.
Cadence Design Systems, Inc., launched on April 8, 1987, provides solutions that enable its customers to design electronic products. The Business’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP). The Business’s functional verification products are used to verify that the circuitry or the software designed will perform as intended. Its digital IC design offerings are used to create representations of a digital circuit or an IC that can be verified for correctness prior to implementation. Its custom IC design and verification offerings are used to create schematic and physical representations of circuits down to the transistor level for analog, mixed-signal, custom digital, memory and radio frequency (RF) designs. Its system interconnect and analysis offerings are used to develop printed circuit boards (PCBs) and IC packages. Its design IP offerings consist of functional blocks, which customers integrate into their ICs for the development process. Its product offerings include electronic design automation software, emulation and prototyping hardware, system interconnect and analysis..
The P/E ratio is 48.14 and the market cap is 12.50B. As of the latest earnings report the EPS was $0.92 with 282.36M shares currently outstanding.
Investors are a little more bearish on shares of the company if you look at the rise in short interest. The company had a rise in short interest of 13.23% between September 29, 2017 and October 13, 2017. Short interest grew 766,404 over that period. The days to cover increased to 3.0 and the percentage of shorted shares was 0.02% on October 13.
Several brokerage analysts have released opinions on the stock of late. Equity analyst DA Davidson raised the price target of the stock on October 30 changing the price objective from $0.00 to $43.00 with a “Neutral” recommendation. October 29 investment analysts at Needham & Company LLC reiterated a “Hold” rating on the stock.
On October 27 Royal Bank Of Canada kept the company rating at “Buy” targeting a price of $46.00. Royal Bank Of Canada raised the price target on October 11 changing the forecast from $39.00 to $45.00 and stated a “Outperform” rating.
On August 31, 2017 Credit Suisse Group maintained a “Outperform” rating on the company. Equity analyst Royal Bank Of Canada raised the price target on July 25 boosting the projection from $36.00 to $39.00 and issued a “Outperform” recommendation.