Short Term Price Target on Cadence Design Systems (CDNS)

Cadence Design Systems (NASDAQ:CDNS) : Average target price received by Cadence Design Systems (NASDAQ:CDNS) is $25.81 with an expected standard deviation of $2.51. The most aggressive target on the stock is $29, whereas the most downbeat target is $21. 8 financial analysts are currently covering the stock.

Cadence Design Systems Inc. has lost 1.3% in the last five trading days and dropped 1.78% in the last 4 weeks. Cadence Design Systems Inc. is up 2.79% in the last 3-month period. Year-to-Date the stock performance stands at 16.77%. Also, Major Brokerage house, Needham downgrades its ratings on Cadence Design Systems (NASDAQ:CDNS). According to the latest information available, the shares are now rated Hold by the analysts at the agency. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on June 14, 2016.

Cadence Design Systems (NASDAQ:CDNS) : Zacks Investment Research ranks Cadence Design Systems (NASDAQ:CDNS) as 3, which is a Hold recommendation. 4 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. A total of 4 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 9 research analysts is 2, which indicates as a Buy.

Cadence Design Systems (NASDAQ:CDNS): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $24.06 and $24.01 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $24.37. The buying momentum continued till the end and the stock did not give up its gains. It closed at $24.30, notching a gain of 1.46% for the day. The total traded volume was 2,979,190 . The stock had closed at $23.95 on the previous day.

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 Companys 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 companys 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.

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