Cadence Design Systems (CDNS) has seen considerable return of 365% over the past five years. It is widely held by institutional shareholders, owning around 88% of the company. It has had formidable institutional interest recently, with Vienna Asset and State Street Corp significantly increasing holdings, amongst others. However, Cadence's stock was pulled down recently despite reporting strong results and a positive outlook. Interestingly, CDNS joined forces with AST SpaceMobile to develop the world's first space-based global cellular broadband network. Despite challenging market conditions, the stock has generally outperformed its competitors, bolstered by its strong fundamentals and impressive earnings growth. However, weaker than expected guidance pressured the stock, raising investor unease. Despite this, analyses highlight CDNS's potential based on its strong technological offerings in AI and hardware growth. CDNS CEO is set to speak at the upcoming Nasdaq's 51st Investor Conference, possibly impacting stock trajectory further.
Cadence Design Systems CDNS News Analytics from Tue, 18 Jun 2024 07:00:00 GMT to Sat, 07 Dec 2024 14:47:51 GMT -
Rating 5
- Innovation 7
- Information 8
- Rumor -2
