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Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. In the case of Cadence, the consensus sales estimate of $1.05 billion for the current quarter points to a year-over-year change of +7.4%. The $4.59 billion and $5.19 billion estimates for the current and next fiscal years indicate changes of +12.1% and +13.1%, respectively.
CDNS
To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company. The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It’s important for an investor to know whether the market has priced in the company's expected earnings growth (or decline).
Cadence Design Systems, Inc. (CDNS) is Attracting Investor Attention: Here is What You Should Know
Cadence's mission is to empower electronic design innovation and play a vital role in shaping the future of technology. The company aims to simplify the design process, optimize productivity and accelerate time-to-market for its customers. By offering advanced design solutions, Cadence seeks to enable engineers and designers to efficiently bring innovative electronic products to the market. Cadence Design Systems offers a comprehensive suite of products and services catering to various semiconductor design stages. These solutions help design teams create complex chips, systems, and boards while ensuring functionality, performance, and reliability. For the next fiscal year, the consensus earnings estimate of $6.97 indicates a change of +17.5% from what Cadence is expected to report a year ago.
Insider Sell: Sr. Vice President Paul Cunningham Sells 1,000 Shares of Cadence Design Systems ... - Yahoo Finance
Insider Sell: Sr. Vice President Paul Cunningham Sells 1,000 Shares of Cadence Design Systems ....
Posted: Thu, 04 Apr 2024 07:00:00 GMT [source]
Price Target and Rating
Since 1988 it has more than doubled the S&P 500 with an average gain of +24.20% per year. These returns cover a period from January 1, 1988 through April 1, 2024. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month.
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics. For the quarter ending March 31, the company reported an adjusted profit of $1.17 per share on revenue of $1.009 billion, topping estimates of $1.13 in earnings and sales of $1 billion. Notably, Cadence said it closed out the quarter with a record backlog of about $6 billion in orders. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature.
Second, a comparison with the average ROE reported by the industry of 13% also doesn't go unnoticed by us. Probably as a result of this, Cadence Design Systems was able to see a decent net income growth of 10% over the last five years. Cadence Design Systems CDNS has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. However, Modi added that customers have provided positive feedback about the company's suit of new tools and emphasized that no deals have been delayed.
Cadence Design Systems, Inc. (NASDAQ:CDNS) is favoured by institutional owners who hold 87% of the company - Yahoo Finance
Cadence Design Systems, Inc. (NASDAQ:CDNS) is favoured by institutional owners who hold 87% of the company.
Posted: Sat, 06 Apr 2024 07:00:00 GMT [source]
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We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.
Other Software
The company was founded by Alberto Sangiovanni-Vincentelli, Gudmundur A. Hjartarson, K. Bobby Chao, and K. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await.
Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Cadence Design Systems''s valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry. No investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance. While earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues.
That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. The scores are based on the trading styles of Value, Growth, and Momentum. There's also a VGM Score ('V' for Value, 'G' for Growth and 'M' for Momentum), which combines the weighted average of the individual style scores into one score. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer.
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In simpler terms, it measures the profitability of a company in relation to shareholder's equity. Cadence Design Systems, Inc. engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP.
The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities. Use these ten stocks to generate a safe and reliable source of investment income. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank.
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