Cadence Design Systems (CDNS) is scheduled to release first-quarter 2024 results on Apr 22.For the first quarter, Cadence expects total revenues in the range of $990 million-$1.01 billion. The Zacks Consensus Estimate is currently pegged at $1.01 billion, suggesting a decline of 0.8% from a year ago.Management projects non-GAAP earnings per share (EPS) in the range of $1.10-$1.14. The Zacks Consensus Estimate is pegged at $1.13, indicating a decline of 12.4% from the prior-year quarter’s reported figure.The ...

Cadence Design Systems (CDNS) ended the recent trading session at $310.10, demonstrating a +1.81% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.74%. Meanwhile, the Dow experienced a drop of 0.01%, and the technology-dominated Nasdaq saw an increase of 1.68%.Shares of the maker of hardware and software products for validating chip designs witnessed a loss of 0.53% over the previous month, trailing the performance of the Computer and Technology sector with its ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?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 has an ave ...

When looking into the best Nasdaq AI stocks to buy, it is important to look at the economy as a whole. The future of the US economy looks promising as recent data reveals a robust and resilient growth trajectory. Personal spending surged in February, surpassing economist predictions, while consumer sentiment reached its highest level in months. Despite some uncertainties regarding inflation, Federal Reserve Chair Jerome Powell remains optimistic, indicating that the economy can weather potential challenges. ...

On Mar 20, after the FOMC meeting, the Fed kept the benchmark lending rate constant in the range of 5.25-5.5%. The range of the Fed fund rate has been steady since July 2023. Its current level marks the highest in 23 years. Since the beginning of 2024, market participants have been busy predicting when the central bank will cut interest rate first time.Recently, a large section of financial researchers and economists were worried about the rate cut as the inflation rate remains sticky supported by a resilie ...

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 +9%, compared to the Zacks S&P 500 composite's +3.6% change. During this period, the Zacks Computer - Software industry, which Cadence falls in, has gained 4.6%. The key question now is ...

Cadence Design Systems, Inc (CDNS) top-line performance is gaining from solid demand for its diversified product portfolio.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.Solid financial performance has also led to a good run on the trading front.  The company’s shares have gained 55.3% in the past year compared with the sub-industry’s and S&P 500 Composi ...

Cadence Design Systems (CDNS) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since ...

Cadence Design Systems (CDNS) recently took a leap forward in its’ multi-year agreement with NVIDIA Corporation (NVDA) to drive innovation across artificial intelligence (AI), system design and analysis, digital biology and Electronic Design Automation. The partners introduced two solutions which include an AI-driven digital twin platform. Apart from the twin platform, CDNS’ Orion platform will now have access to NVDA’s BioNeMo platform to fast-track drug discoveries.NVDA is the worldwide leader in visual c ...

Cadence Design Systems (CDNS) and Arm have teamed up to develop a chiplet-based reference design and software development platform aimed at advancing software-defined vehicle (SDV) innovation and advanced driver assistance systems (ADAS) applications.The collaboration aims to create a scalable chiplet architecture and interface interoperability to encourage industry collaboration, support heterogeneous integration, and drive system innovation in the automotive sector. The rise of ADAS and SDVs has fueled th ...