The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Let's take a look at what these Wall Street heavyweights have to say about Cadence Design Systems (CDNS) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Cadence currently h ...

Cadence Design Systems (CDNS) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this maker of hardware and software products for validating chip designs have returned -1.4%, compared to the Zacks S&P 500 composite's +3.1% change. During this period, the Zacks Computer - Software industry, which Cadence falls in, has gained 0.6%. The key question now ...

The Zacks Computer-Software Industry continues to stand out this earnings season with many of the stocks in the space topping their bottom line expectations including tech giant Microsoft (MSFT) . Accompanying Microsoft, 14 out of the 18 companies that have reported their quarterly results have surpassed earnings estimates so far.Furthermore, several of these computer software stocks currently hold spots on the Zacks Rank #1 (Strong Buy) list and here are three to consider.Image Source: Zacks Investment Res ...

SANTA CLARA, Calif. & SAN JOSE, Calif.--(BUSINESS WIRE)--Intel Foundry Services (IFS) and Cadence Design Systems, Inc. (Nasdaq: CDNS) announced they have expanded their partnership and entered into a multiyear strategic agreement to jointly develop a portfolio of key customized IP, optimized design flows and techniques for Intel 18A technology featuring RibbonFET gate-all-around transistors and PowerVia backside power delivery. Joint customers will be able to accelerate their SoC project schedules on proces ...

Cadence Design Systems’ (CDNS) stock is continuing its upward trajectory with a gain of 50.7% in the year past year compared with the S&P 500 Composite’s growth of 25.4%.Cadence offers products and tools that help customers design electronic products. The company’s core electronic design automation software and services enable engineers to develop different types of ICs.CDNS’ performance is being driven by the healthy demand for its diversified product portfolio across all segments.Image Source: Zacks Inves ...

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, February 16:Ecolab Inc. (ECL) : This hygiene solutions company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 5% over the last 60 days.Ecolab's shares gained 17.4% over the last three months compared with the S&P 500’s advance of 10.4%. The company possesses a Momentum Score of A.Cadence Design Systems, Inc. (CDNS) : This semiconductor company has ...

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:Cadence Design Systems, Inc. (CDNS) : This company which provides software, hardware, services, and reusable integrated circuit design blocks has seen the Zacks Consensus Estimate for its current year earnings increasing 0.7% over the last 60 days.Ecolab Inc. (ECL) : This company that provides water, hygiene, and infection prevention solutions and services has seen the Zacks Consensus Estimate for its current year earnings increasing 5% ...

Shares of Cadence Design Systems (CDNS -4.00%) declined 4% on Tuesday, following the electronics design specialist's release on the prior afternoon of its fourth-quarter 2023 report. This drop is likely mainly attributable to first-quarter 2024 guidance coming in lighter than Wall Street had expected for both revenue and adjusted earnings. Shares might have also gotten a headwind from the broader market, as all the major indexes were down due to the government's release of the consumer price index (CPI) for ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________ FORM 10-K _____________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ☐ 1934 For the transition period from _________ to_________. Commission file number 000-15867 _______________________________ ...

Cadence Design Systems (CDNS) reported $1.07 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 18.8%. EPS of $1.38 for the same period compares to $0.96 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.07 billion, representing a surprise of +0.27%. The company delivered an EPS surprise of +2.99%, with the consensus EPS estimate being $1.34.While investors closely watch year-over-year changes in headline numbers -- revenue and earn ...