Cadence Design Systems, Inc. (CDNS): From Top to Bottom

Cadence Design Systems, Inc. (CDNS) is an interesting player in the Technology space, with a focus on Application Software. The stock has been active on the tape, currently trading at $39.70, up from yesterday’s close by 0.05%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

Cadence Design Systems, Inc. (CDNS) currently trades with a market capitalization of $11.12 Billion. That value represents a market adjusting for revenues that have been growing by 6.98 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of $412.85 Million over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of $0.37 on a per share basis this quarter. Perhaps, that suggests something about why 4.19% of the outstanding share supply is held by institutional investors.



Technical Analysis

No analysis is ever complete without a thorough survey of a stock’s technical behavior. Looking at the stock’s movement on the chart, Cadence Design Systems, Inc. recorded a 52-week high of $46.00. It is now trading 6.3% off that level. The stock is trading $41.61 its 50-day moving average by 1.91%. The stock carved out a 52-week low down at $30.35.

In recent action, Cadence Design Systems, Inc. (CDNS) has made a move of +5.36% over the past month, which has come on Strong relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 17.8, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 2.29% with $279.42 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of CDNS.

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