In a report released today, Vivek Arya from Merrill Lynch maintained a Hold rating on Cadence Design (CDNS), with a price target of $83.00. The company’s shares closed last Monday at $79.19, close to its 52-week high of $79.59.
According to TipRanks.com, Arya is a 5-star analyst with an average return of 18.7% and a 64.5% success rate. Arya covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Applied Materials, and Texas Instruments.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cadence Design with a $86.13 average price target, implying an 11.9% upside from current levels. In a report released today, Credit Suisse also maintained a Hold rating on the stock with a $80.00 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $79.59 and a one-year low of $51.01. Currently, Cadence Design has an average volume of 1.41M.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
