Cadence Design Systems (CDNS) underwent a
25% price jump, inciting some concern. However, it continues to be a prominent choice for growth investors. Despite a recent fall,
strong results were reported, and the
Q3 estimates exceeded expectations which led to a profit outlook raise.
Wells Fargo and
Loop Capital initiated coverage of CDNS with Overweight and Buy recommendations respectively. Additionally, the company was named among the world's top 10 workplaces for 2024.
Strong fundamentals reportedly tethered its recent stock performance, and it earned praise for its EDA and IP investments. While some institutional investors lowered their stakes, others like
Charles Schwab Investment Management increased theirs. A 1.25% earnings yield was reported as of November 20, 2024. After a strong third quarter, CDNS topped the S&P 500 and showcased breakthrough hearing aid technology. However, concerns about returns on its capital and some signs of weaker guidance also appeared.
Jim Cramer recommended investors to stay long on the company despite some market dips. The company's stock is reportedly seen as an attractive investment considering the EPS growth. Finally, it tightened its full-year outlook after its third-quarter beat.
Cadence Design Systems CDNS News Analytics from Mon, 22 Jul 2024 07:00:00 GMT to Sat, 23 Nov 2024 12:20:37 GMT -
Rating 8
- Innovation 7
- Information 7
- Rumor 2
