Setting A New 52 Week High, Cadence Design Systems Inc (Nasdaq:CDNS) Ends The Day At $66.70

Cadence Design Systems Inc (Nasdaq:CDNS)

April 23rd, 2019

Amidst rising markets Cadence Design Systems Inc closed Tuesday up 3.88%, a $2.49 increase to close on $66.70. Furthermore it hit a new 52 week high of $69.69. In addition to finishing higher, trading volumes were solid at 266.00% of normal which can indicate investors see opportunities.

CDNS outperformed the rest of the Information Technology sector which went up 1.13% today.

Cadence Design Systems Inc is listed on the S&P 500 index, and was one of 399 stocks that rose today. Weighted by market cap, CDNS represents about 0.07% of the S&P 500.

Forecasts from 7 analysts indicates that Cadence Design Systems Inc could drop somewhat (-7.86%), while Finbox has calculated (with low uncertainty) a fair value price of $45.04.

Market Sectors

The market sectors were mixed Tuesday with a majority of the sectors trending up. Healthcare saw the biggest increase of the day (1.59%), while Consumer Staples saw the biggest drop (-0.12%). Information Technology has seen the biggest year-to-date gain at 25.74%. The biggest loss this year has been the Healthcare sector falling -0.69%.

Healthcare saw the biggest turnaround from its 5-day performance of -4.33%, as it went up 1.59%. Consumer Staples saw a turn around from its 5-day performance of 0.92% trading down -0.12%.

Sector Breakdown

  • Healthcare went up with a 1.59% change.
  • Consumer Discretionary went up with a 1.22% change.
  • Information Technology went up with a 1.13% change.
  • Real Estate went up with a 1.12% change.
  • Industrials went up with a 0.89% change.
  • Communication Services went up with a 0.85% change.
  • Financials went up with a 0.58% change.
  • Materials went up with a 0.44% change.
  • Utilities went up with a 0.37% change.
  • Energy went up with a 0.04% change.
  • Consumer Staples went down with a -0.12% change.

Cadence Design Systems Inc Info

Cadence Design Systems, Inc. provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel simulation platform; Palladium Z1, an enterprise emulation platform; and Protium S1 field-programmable gate array prototyping platform. The company also provides digital IC design products, such as logic design products for chip planning, design, verification, and test technologies and services; physical implementation tools, including place and route, signal integrity, optimization, and multiple patterning preparation; and signoff products to signoff the design as ready for manufacture by a silicon foundry, as well as design for manufacturing products for use in the product development process. In addition, it offers custom IC design and simulation products to create schematic and physical representations of circuits down to the transistor level for analog, mixed-signal, custom digital, memory, and radio frequency designs; and system interconnect design products to develop printed circuit boards and IC packages. Further, the company provides design intellectual property (IP) products consisting of pre-verified and customizable functional blocks to integrate into customer’s ICs; and verification IP and memory models for use in system-level verification to model correct behavior of full systems interacting with their environments. Additionally, it offers services related to methodology, education, and hosted design solutions, as well as technical support and maintenance services. Cadence Design Systems, Inc. was founded in 1988 and is headquartered in San Jose, California.

All amounts in USD unless otherwise indicated

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