Lyell Wealth Management and Creative Planning have increased their stock position in Cadence Design Systems, Inc. (CDNS). Contrarily, Assenagon Asset Management and 1858 Wealth Management sold shares of CDNS. Despite weaker guidance, Jim Cramer advised to 'Stay long on it. Buy some more.' Wall Street has a 'Moderate Buy' recommendation for CDNS, with Mizuho initiating an Outperform recommendation. Cadence is set to announce earnings on Monday, expected by investors to reveal growth. CDNS has outperformed the broader market, although it has recently dipped more than it. However, the fundamentals are strong insinuating discrepancy on the market's evaluation. Notably, an unusual surge in implied volatility for CDNS stock options was observed. Broad institutional investor support for Cadence highlighted by the 88% stake held by them. Cadence's Q2 outstripped earnings and revenue estimates, but projected guidance was underwhelming. CDNS stocks are being eyed before Q3 earnings. Insiders from Cadence sold shares totalling to US$4.8m, indicating potential hesitancy. The company's impressive return on capital and strong financials keeps it undervalued by investors. As Cadence's AI attainments attract more attention, the trend is veering towards a buy option on CDNS stocks.
Cadence Design Systems CDNS News Analytics from Tue, 28 May 2024 07:00:00 GMT to Sat, 26 Oct 2024 18:43:03 GMT -
Rating 6
- Innovation 7
- Information 8
- Rumor -1
