Media stories about Cadence Design Systems (NASDAQ:CDNS) have been trending somewhat positive this week, Accern reports. The research group identifies positive and negative news coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Cadence Design Systems earned a daily sentiment score of 0.14 on Accern’s scale. Accern also assigned media coverage about the software maker an impact score of 46.2940658003266 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.

Here are some of the news headlines that may have effected Accern Sentiment’s analysis:

CDNS has been the topic of a number of research reports. BidaskClub upgraded Cadence Design Systems from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 5th. Zacks Investment Research downgraded Cadence Design Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 26th. JPMorgan Chase & Co. raised their price target on Cadence Design Systems from $42.00 to $49.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 24th. Needham & Company LLC raised their price target on Cadence Design Systems from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Finally, DA Davidson raised their price target on Cadence Design Systems to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $48.43.

NASDAQ:CDNS opened at $46.44 on Friday. The company has a market cap of $13.16 billion, a P/E ratio of 43.81, a PEG ratio of 3.89 and a beta of 1.10. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 0.29. Cadence Design Systems has a 52-week low of $35.49 and a 52-week high of $47.40.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 23rd. The software maker reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The firm had revenue of $518.40 million for the quarter, compared to the consensus estimate of $514.94 million. Cadence Design Systems had a return on equity of 28.38% and a net margin of 10.62%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. research analysts expect that Cadence Design Systems will post 1 EPS for the current fiscal year.

In other Cadence Design Systems news, CEO Lip Bu Tan sold 100,000 shares of the stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $44.82, for a total transaction of $4,482,000.00. Following the completion of the sale, the chief executive officer now directly owns 502,813 shares of the company’s stock, valued at approximately $22,536,078.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James D. Plummer sold 7,500 shares of the stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $46.49, for a total value of $348,675.00. Following the sale, the director now directly owns 21,526 shares of the company’s stock, valued at $1,000,743.74. The disclosure for this sale can be found here. Insiders have sold a total of 309,000 shares of company stock valued at $13,944,605 over the last ninety days. 2.55% of the stock is owned by insiders.

About Cadence Design Systems

Cadence Design Systems, Inc provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel simulation platform; Palladium Z1, a verification computing platform; and Protium S1 field-programmable gate array prototyping platform.

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