In a report released today, Gary Mobley from Wells Fargo maintained a Buy rating on Cadence Design (CDNS). The company’s shares closed last Monday at $74.32, close to its 52-week high of $77.08.
According to TipRanks.com, Mobley is a 4-star analyst with an average return of 13.1% and a 62.7% success rate. Mobley covers the Consumer Goods sector, focusing on stocks such as Silicon Laboratories, Microchip, and ON Semi.
Cadence Design has an analyst consensus of Moderate Buy, with a price target consensus of $80.00.
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Cadence Design’s market cap is currently $20.85B and has a P/E ratio of 48.77. The company has a Price to Book ratio of 14.09.
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Cadence Design Systems, Inc. engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP. The company was founded by Alberto Sangiovanni-Vincentelli, Gudmundur A. Hjartarson, K. Bobby Chao, and K. Charles Janac in June 1988 and is headquartered in San Jose, CA.
