CDNS - Cadence Design Systems, Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
69.42
+5.49 (+8.59%)
At close: 4:00PM EDT
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close63.93
Open67.52
Bid0.00 x 1400
Ask0.00 x 1000
Day's Range65.94 - 69.77
52 Week Range51.39 - 80.40
Volume2,332,714
Avg. Volume2,234,082
Market Cap19.495B
Beta (5Y Monthly)0.98
PE Ratio (TTM)19.67
EPS (TTM)3.53
Earnings DateApr 19, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est80.38
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Undervalued
56% Est. Return
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We believe Fiscal 2020 through 2022 should see operating margin expand from ~25% toward ~30% as Synopsys leverages the significant investment in headcount and personnel-related costs (both organic and inorganic) that took place during recent years.”All of the above led Vruwink to initiate coverage on Synopsys with an Outperform rating along with a price target of $190. Should the target be met, investors stand to take home returns in the shape of 14%. (To watch Vruwink’s track record, click here)A full house of Buys – 10, in fact – provides the software designer with a Strong Buy consensus rating from the Street. The average price target comes in at $169.10 and indicates modest upside of 2%. (See Synopsys stock analysis on TipRanks)Cadence Design Systems (CDNS)Not to be outdone by Synopsys, fellow EDA software provider Cadence Design Systems has been beating the market, too. The company’s share price is up by 13% year-to-date and continues last year’s excellent performance (the stock rose by 63% in 2019). Investors were buoyed by Cadence’s innovative tech offering, solid financials and long-term growth prospects. Having said that, investors are not the only ones impressed with the San Jose-based company. For the sixth consecutive year, Cadence made Fortune’s list of 100 Best Companies to Work For.The company is also aiming for further expansion outside of its traditional EDA market. Using its technical capabilities, Cadence is pursuing solutions for hardware/software integration and system analysis, focusing on two areas in particular- simulation and embedded security. Vruwink points out that individually, each area has grown at a double digit rate this cycle and provides a multi-billion dollar TAM (total addressable market) opportunity. Add this to an EDA market expected to gain by high single digits, and the two form the basis for the company’s TAM expansion strategy over the next 5-10 years.Vruwink sees targeted IP growth, TAM expansion and acceleration in its core EDA business as key drivers for Cadence this year.The analyst said, “We believe the company is well positioned to outperform in 2020 through a combination of accelerating customer development activity (+ for EDA tools), strong IP momentum (including AI/ML, auto, communications) and continued success in growing system-level tools. We view valuation as reasonable in comparison to other design peers with potential for further re-rating as company executes on secular growth opportunity/ TAM expansion while sustaining strong profitability.”Bottom-line, then? Vruwink initiated coverage of Cadence with an Outperform rating. 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