Cadence Design Systems (CDNS) has consistently beaten earnings estimates, although it recorded a below-par guidance for Q2, causing a stock dip. While there are ponderings on whether it's a good time to buy CDNS at $287, Epoch Investment Partners Inc. holds a significant $42.20 million stock position. Professional analysts predict stable future earnings, suggesting optimism. There were some concerns about insiders selling shares, but the stock experienced an upswing and surpassed market returns. Despite a weak Q2 guidance, the company's Q2 earnings and revenues surpassed estimates. Institutional owners heavily dominate the ownership of CDNS shares. The stock slid after the company gave a soft outlook, but it later recovered, and its relative strength rating improved to 76, reflecting its robust performance. Intech Investment Management LLC reduced its holdings, while Advisory Services Network LLC bought more shares. Investing in the company five years ago would have delivered a 381% gain. Despite the stock's decline, its solid fundamentals suggest the market might be wrong about CDNS. The second-quarter results topped views amid an AI boom, but the company's guidance underwhelmed some investors.
Cadence Design Systems CDNS News Analytics from Mon, 12 Feb 2024 08:00:00 GMT to Sun, 28 Jul 2024 21:52:00 GMT -
Rating 7
- Innovation 5
- Information 8
- Rumor 4
