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CADENCE DESIGN SYSCADENCE DESIGN SYSCADENCE DESIGN SYS

CADENCE DESIGN SYS

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Cadence Design Systems Stock Slides On Weak Q2 GuidanceCadence Design Systems ( NASDAQ:CDNS ), a San Jose-based electronic design automation software manufacturer, has released its first-quarter financial results. The company reported adjusted earnings of $1.17 per share on sales of $1.01 billion, beating FactSet's estimated earnings of $1.13 per share on sales of $1 billion. However, compared to the same period last year, the company's earnings fell by 9%, while sales decreased by 1%. This marks the company's first quarterly sales decline in more than eight years and the first decline in earnings on a year-over-year basis in nine quarters. Despite the positive first-quarter results, Cadence's ( NASDAQ:CDNS ) second-quarter guidance is below expectations. The company is forecasting adjusted earnings of $1.22 per share on sales of $1.04 billion, below analysts' predictions of $1.43 per share on sales of $1.11 billion. In the year-ago period, the company earned adjusted earnings of $1.22 per share on sales of $977 million. Cadence's CFO, John Wall, stated that the company had achieved a record Q1 backlog of approximately $6 billion, and the company had made two major acquisitions in the first quarter. On January 8th, Cadence ( NASDAQ:CDNS ) announced its acquisition of Invecas, a provider of design engineering, embedded software and system-level solutions, while on March 5th, the company announced its plan to purchase BETA CAE Systems International, a system analysis platform provider of multi-domain, engineering simulation solutions, for $1.24 billion. In response to Cadence's Q2 guidance, NASDAQ:CDNS stock plummeted by 9.3% to $258.60 in after-hours trading but shortly surged by 1.7% in Pre-market trading on Tuesday. The company's full-year outlook remains positive, with adjusted earnings of $5.93 per share on sales of $4.59 billion, matching FactSet's estimates. Last year, Cadence ( NASDAQ:CDNS ) earned adjusted earnings of $5.15 per share on sales of $4.09 billion. The stock has a Relative Strength Index (RSI) of 35.30 siting weak momentum from ( NASDAQ:CDNS ) stock
NASDAQ:CDNSLong
by DEXWireNews
CDNS a chip design software company LONGCDNS located in California is a software firm supporting computer assisted design ( ACAD) for the semi-conductor industry. While its customer base gets the headlines, this company helps make it happen. The 120 minute chart looks good as price is uptrending with good volume and relative strength. Earnings have been solid and another is around the corner. Price has appreciated 40% in six months. the trend angle of 13 degrees over the continuous uptrend is solid. I see this as a buy now before the earnings or after a minor correction to get a bit of a discount.
NASDAQ:CDNSLong
by AwesomeAvani
CDNS: healthy correction?A price action below 271.00 supports a bearish trend direction. Crossing below 267.00 will trigger further support for the short-sell position. The target price is set at 256.00 (its 38.2% Fibonacci retracement level). The stop-loss is set at 282.00 (just above the full retracement). A "healthy correction" in the stock market typically refers to a short-term decline in stock prices that is considered normal and even beneficial for the overall health of the market
NASDAQ:CDNSShort
by Peet_Serfontein
1
CDNS Entry, Volume, Target, StopEntry: with price above 239.90 Volume: with volume greater than 3.32M Target: 257.5 area Stop: Depends on your risk tolerance; Based on an entry of 239.91, a stop of 232.84 gets you 3/1 Reward to Risk Ratio. This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
NASDAQ:CDNSLong
by tradepatiently
RectangleThere is also an ABC bullish pattern inside the rectangle. The target for this pattern is D. As a rule, price will reverse when it hits D if the pattern makes it to D. There is resistance from the upper trendline of the rectangle. In order for price to see full realization of the ABC bullish pattern, the upper trendline of the rectangle will need to be broken. Rectangles are neutral patterns without a break of a trendline. Retests of the trendline are common. The top and bottom trendlines are marked. No recommendation
NASDAQ:CDNS
by lauralea
1
Cadence Design Syst | Short to SupportCadence Design Systems ( NASDAQ:CDNS ) doesn't look very strong and is starting to regain downward momentum. If it doesn't break through the resistance line ($156-$158) in the coming weeks, I anticipate it will close the tiny gap between $136.96 and $137.11 and then test support near $125-$126 (if not lower to $120 - dotted blue line). Death cross started in early March with the 50 EMA crossing below to the 200 EMA. P/E 59.8 and insiders continue to sell.
NASDAQ:CDNSShort
by NicksAnalysis
CDNS - Another Tech is Approaching Deep Correction?Is it time for overpriced tech stocks like Cadence Design Systems , specialising in software and hardware, to go into considerable correction to let some steam out? Fundamental indicators: Revenue and Profits - demonstrated consistent long-term earnings growth over the past 10 years Profit margin - 23% in 2021 but dropped from 42% in 2020 P/E - extremely overpriced with 56x ratio Liabilities - no problems with debt Technically: An impulse like correction in March 2020 has completed Running Flat (ABC) wave 4 as part of bull trend that lasted since 2016 Since then the final wave 5 has commenced with 2 impulses that formed a zig-zag of wave 1 This choppy movement suggests that it is not a rapid impulse developing but an Ending Diagonal with 3-3-3-3-3 structure Hence two more zig-zags can be expected to reach and slightly update historic maximum of $192 Once the global wave is completed a deeper correction can be expected to the levels of $95-$120 which represent 0.382 and 0.5 Fibonacci retracement levels respectively What do you think about this scenario for Cadence Design Systems ? Please share your thoughts in the comments and like this idea if you would like to see more stocks analysed using Elliott Waves. Thanks
NASDAQ:CDNSLong
by vitalalyt