This company has done nothing for their shareholders since 1994 just look at the long term plot. Not a shareholder friendly company. No dividend and no growth since the 1994 to 1998 run. They need new management.
Don't hold your breath re. a reversal when this thing has a 14% short of the float. The HFT people are having a field day with this thing today, but don't try and get any info. from Cadence Investor Relations because they don't have a clue as to what's going on.
Actually, Shortie is anticipating just such a sell off and he has oversold Cadense. We may stay in this range for a week or two, but I expect a rapid climb by/after Thanksgiving.
Or maybe they want to buy a lot of shares at $12 and sold the calls in an effort to reduce their cost basis assuming they get the shares?
20000-lot of Feb 22 12-Strike puts sold at 35¢, selling-to-open, according to ISEE data. Someone is betting big this closes above 12 after next earnings.
Just got another upgrade. S&P RAISES OPINION ON SHARES OF CADENCE DESIGN SYSTEMS TO BUY FROM HOLD
Sentiment: Strong Buy
Cadence Design Systems Price Target Increased to $21.00 by Analysts at Piper Jaffray Cos. (CDNS)
Posted by Ethan Ryder on Oct 24th, 2013 // No Comments
Research analysts at Piper Jaffray Cos. lifted their target price on shares of Cadence Design Systems (NASDAQ:CDNS) from $19.00 to $21.00 in a report released on Thursday, Analyst Ratings News reports. The firm currently has an “overweight” rating on the stock. Piper Jaffray Cos.’s price objective would suggest a potential upside of 61.41% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Needham & Company downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note to investors on Thursday. Separately, analysts at DA Davidson upgraded shares of Cadence Design Systems from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, September 12th. They now have a $16.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Cadence Design Systems from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, August 5th. They now have a $17.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $17.50.
Cadence Design Systems (NASDAQ:CDNS) traded down 10.34% during mid-day trading on Thursday, hitting $13.01. The stock had a trading volume of 19,911,240 shares. Cadence Design Systems has a 52 week low of $11.61 and a 52 week high of $15.96. The stock has a 50-day moving average of $14.06 and a 200-day moving average of $14.21. The company has a market cap of $3.694 billion and a price-to-earnings ratio of 9.07.
Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Wednesday, October 23rd. The company reported $0