Cadence Design Systems (NASDAQ:CDNS) is drawing considerable investor interest. An average target price of $334.89 has been forecasted by analysts. However, insider selling is causing a bit of unease. CDNS stock notably sank below its 200-day moving average. While some insiders, including director Vincentelli Albert Sangiovanni, have sold portions of their shares, companies such as Concurrent Investment Advisors LLC and Advisory Services Network LLC have been buying company shares. The company's Q2 Guidance has provoked some concern, and the stock has seen occasional turbulence. Yet, analysts expect Cadence to beat earnings estimates with a consensus rating of 'moderate buy'. The company, whose ownership is 88% institutional, posted Q1 earnings surpassing estimates. Cadence is reportedly expected to post earnings on Monday and shed more light on its financial prospects. However, the soft outlook has been met with skepticism. The five-year returns suggest an impressive 381% gain for investors. Cadence has announced collaboration with TSMC on system and semiconductor design innovations. Despite occasional declines, Cadence's returns look impressive, attracting multitude of investors.
Cadence Design Systems CDNS News Analytics from Mon, 05 Feb 2024 08:00:00 GMT to Sun, 21 Jul 2024 07:02:00 GMT -
Rating 2
- Innovation 6
- Information 7
- Rumor -7
