Cadence Design Systems Inc (CDNS) is Initiated by RBC Capital Mkts to Outperform, Price Target at $29

Cadence Design Systems Inc (CDNS) was Initiated by RBC Capital Mkts to “Outperform” and the brokerage firm has set the Price Target at $29. RBC Capital Mkts advised their investors in a research report released on Jun 6, 2016.

Many Wall Street Analysts have commented on Cadence Design Systems Inc. RBC Capital Mkts Initiated Cadence Design Systems Inc on Jun 6, 2016 to “Outperform”, Price Target of the shares are set at $29.Company shares were Reiterated by Topeka Capital Markets on Apr 26, 2016 to “Buy”, Firm has raised the Price Target to $ 27 from a previous price target of $25 .Cadence Design Systems Inc was Downgraded by DA Davidson to ” Neutral” on Apr 6, 2016.

On the company’s financial health, Cadence Design Systems Inc reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 25, 2016. Analyst had a consensus of $0.27. The company had revenue of $447.86 million for the quarter, compared to analysts expectations of $444.68 million. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.

Cadence Design Systems Inc closed down -0.03 points or -0.12% at $24.7 with 22,24,985 shares getting traded on Friday. Post opening the session at $24.77, the shares hit an intraday low of $24.34 and an intraday high of $24.79 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 3, 2016, Geoffrey G Ribar (Sr. VP, CFO) sold 100,000 shares at $24.71 per share price. According to the SEC, on May 26, 2016, Chi-ping Hsu (Sr. Vice President) sold 19,375 shares at $25.22 per share price. On May 26, 2016, James J Cowie (Sr. VP, General Counsel) sold 59,509 shares at $25.16 per share price, according to the Form-4 filing with the securities and exchange commission.

Cadence Design Systems Inc. (Cadence) develops system design enablement (SDE) solutions that are used to design whole electronics systems and integrated circuits (ICs) and electronic devices. The Company’s SDE product offerings include electronic design automation (EDA) software emulation and prototyping hardware and two categories of intellectual property (IP) verification IP (VIP) and design IP. The Company provides maintenance for its software emulation hardware and IP product offerings. It also provides engineering services related to methodology education hosted design solutions and design services for ICs and development of custom IP. The company’s customers include electronics systems and semiconductor companies Internet service providers and other technology companies that deliver a range of electronics products in market segments such as mobile and consumer devices communications cloud and data center infrastructure medical systems and other devices.

Cadence Design Systems Inc

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