Cadence Design Systems Reaches New 52-Week High (CDNS)

NEW YORK ( TheStreet) -- Cadence Design Systems (Nasdaq: CDNS) hit a new 52-week high Thursday as it is currently trading at $11.78, above its previous 52-week high of $11.72 with 5.1 million shares traded as of 10:20 a.m. ET. Average volume has been 2.7 million shares over the past 30 days.

Cadence Design Systems has a market cap of $2.92 billion and is part of the technology sector and computer software & services industry. Shares are up 3.8% year to date as of the close of trading on Wednesday.

Cadence Design Systems, Inc. develops electronic design automation software and hardware for customers worldwide. Its products and services are used to design and develop integrated circuits (ICs), and electronics systems. The company has a P/E ratio of 117.3, below the average computer software & services industry P/E ratio of 134.1 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Cadence Design Systems as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and generally poor debt management. You can view the full Cadence Design Systems Ratings Report.

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