Cadence Design Systems Stock Hits 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 $15.45, above its previous 52-week high of $15.33 with 24,361 shares traded as of 9:31 a.m. ET. Average volume has been 2.5 million shares over the past 30 days.

Cadence Design Systems has a market cap of $4.29 billion and is part of the technology sector and computer software & services industry. Shares are up 13% year to date as of the close of trading on Wednesday.

Cadence Design Systems, Inc. develops, sells or leases, licenses, and maintains electronic design automation (EDA) software, hardware, verification intellectual property (VIP), and design intellectual property (Design IP) for semiconductor and electronics systems companies worldwide.

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TheStreet Ratings rates Cadence Design Systems as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, notable return on equity, attractive valuation levels and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Cadence Design Systems Ratings Report.

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