Cadence Design Systems (CDNS) has had a significant impact on the market recently. Despite seeing heavier dips than the general market and weak Q2 guidance causing stock drops, its impressive returns on capital and AI initiatives have kept it on the watchlist of many investors. CDNS, 88% owned by institutional shareholders, experienced instances of insider selling, but it remains a trending stock believed to have potential for parabolic growth. Illinois Municipal Retirement Fund has significant positions in CDNS and it has a consensus recommendation of 'Moderate Buy' by brokerages. The stock has topped Q2 earnings, despite gapping down and insider sell-offs. The company beats Q2 targets, but guided below views causing a slide in stock prices. A likely underperformance against NASDAQ and multiple instances of insider selling have also been noted. Q1 earnings topped estimates, and it outperformed market returns. CDNS's revisions to forecasts have caused share reactions and the shares saw a soft outlook. CDNS is also significantly into AI R&D, boding well for a future-dominated AI tech.
Cadence Design Systems CDNS News Analytics from Fri, 09 Feb 2024 08:00:00 GMT to Sat, 07 Sep 2024 13:24:23 GMT -
Rating 2
- Innovation 7
- Information 5
- Rumor 3
