Cadence Design Systems Inc (NASDAQ: CDNS) has reported earnings for its second fiscal quarter (ending June 30) of $0.85 versus $0.82 for the same period a year ago — an increase of 4%. Relative to the consensus estimate of $1.23, this was a shortfall of $-0.38. For the latest four quarters through June 30, E.P.S. were $3.91 compared to $3.30 a year ago — an increase of 18%.
Recent Price Action
Cadence Design Systems Inc (NASDAQ: CDNS) stock enjoyed a large increase of 2.5% on 7/22/24. The stock closed at $287.08. Moreover, trading volume in this advance was unusually high at 197% of normal. The stock has been strong relative to the market over the last nine months but has declined -9.1% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, CDNS is expected to continue to be a major Value Builder.
Cadence Design Systems has a current Value Trend Rating of C (Low Neutral). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Cadence Design Systems has a poor Appreciation Score of 17 but a good Power Rating of 70, with the Low Neutral Value Trend Rating the result.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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