There’s a lot to be optimistic about in the Technology sector as 1 analysts just weighed in on and Cadence Design (CDNS) with bullish sentiments.
Cadence Design (CDNS)
Benchmark Co. analyst Ruben Roy reiterated a Buy rating on Cadence Design on February 22 and set a price target of $150.00. The company’s shares closed last Friday at $141.09, close to its 52-week high of $149.08.
According to TipRanks.com, Roy is a 5-star analyst with an average return of 20.2% and a 69.4% success rate. Roy covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Silicon Laboratories, and Skyworks Solutions.
Currently, the analyst consensus on Cadence Design is a Moderate Buy with an average price target of $153.20, implying a 10.2% upside from current levels. In a report issued on February 10, Wells Fargo also maintained a Buy rating on the stock with a $160.00 price target.
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