Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Cadence Design (CDNS) and Sonos (SONO).
Cadence Design (CDNS)
In a report released today, Vivek Arya from Merrill Lynch maintained a Buy rating on Cadence Design, with a price target of $128.00. The company’s shares closed last Tuesday at $103.83, close to its 52-week high of $104.34.
According to TipRanks.com, Arya is a 5-star analyst with an average return of 20.5% and a 66.0% success rate. Arya covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Skyworks Solutions.
Cadence Design has an analyst consensus of Strong Buy, with a price target consensus of $105.25, implying a -1.2% downside from current levels. In a report issued on July 13, Wells Fargo also maintained a Buy rating on the stock.
See today’s analyst top recommended stocks >>
Sonos (SONO)
In a report released today, John Babcock from Merrill Lynch maintained a Hold rating on Sonos, with a price target of $17.50. The company’s shares closed last Tuesday at $17.08.
According to TipRanks.com, Babcock is ranked #2347 out of 6806 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Sonos with a $16.97 average price target.
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