Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Cadence Design ( (CDNS) ) has provided an announcement.
Cadence Design Systems has reached settlements with the Bureau of Industry and Security and the Department of Justice regarding export law violations between 2015 and 2021. These violations involved unauthorized sales and technology transfers to China, valued at $45.3 million. As part of the resolution, Cadence will pay $140.6 million in penalties and has agreed to enhance its export compliance programs, including a plea agreement with a three-year probationary term and additional compliance obligations.
The most recent analyst rating on (CDNS) stock is a Sell with a $225.00 price target. To see the full list of analyst forecasts on Cadence Design stock, see the CDNS Stock Forecast page.
Spark’s Take on CDNS Stock
According to Spark, TipRanks’ AI Analyst, CDNS is a Outperform.
Cadence Design’s strong financial performance and robust earnings call results drive a high overall score. Technical analysis supports upward momentum, while valuation poses concerns due to a high P/E ratio. The recent corporate events add some risk, but the company’s strategic focus and financial stability maintain a positive outlook.
To see Spark’s full report on CDNS stock, click here.
More about Cadence Design
Cadence Design Systems, Inc. operates in the electronic design automation industry, providing software, hardware, and IP for designing integrated circuits, systems on chips, and printed circuit boards. The company focuses on enabling electronic systems and semiconductor companies to create innovative products in a variety of markets.
Average Trading Volume: 1,887,614
Technical Sentiment Signal: Buy
Current Market Cap: $90.7B
Learn more about CDNS stock on TipRanks’ Stock Analysis page.