Cadence Design Sys Stock (NASDAQ:CDNS), Trade Ideas

Cadence Design Sys

Cadence Design Systems is a provider of electronic design automation software, intellectual property, and system design and analysis products. EDA software automates the chip design process, enhancing design accuracy, productivity, and complexity in a full-flow end-to-end solution. Cadence offers a portfolio of design IP, as well as system design and analysis products, which enable system-level analysis and verification solutions. Cadence's comprehensive portfolio is benefiting from a mutual convergence of semiconductor companies moving up-stack toward systems-like companies, and systems companies moving down-stack toward in-house semiconductor design. The resulting expansion in EDA customers, alongside secular digitalization of various end markets, benefits EDA vendors like Cadence.

Cadence Design Systems

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Commodities

Markets

Tech

Trading Ideas

General

$BTC

AAPL

AMZN

CDNS

GOOG

GOOGL

MSFT

NVDA

TSLA

To gain an edge, this is what you need to know today.



Hedges Are Profitable, Semiconductors Stabilizing After 17% Drop

Hibbett - logo

News

Pre-Market Outlook

Movers

ABEO

AGBA

AZTR

CALX

CDTX

CHNR

CSLR

GWAV

HIBB

IBRX

JAGX

NUWE

PEGY

PHIO

TOVX

TRSG

TTOO

YYGH

Why Hibbett Shares Are Trading Higher By 18%; Here Are 20 Stocks Moving Premarket

Image44

MNDR

SBSW

Calix Reports Mixed Results, Joins Cadence Design Systems And Other Big Stocks Moving Lower In Tuesday&#39;s Pre-Market Session

Cadence Design Systems, Inc. - Common Stock

Cadence Design Systems Inc

Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) has outperformed the market over the past 20 years by 8.78% on an annualized basis producing an average annual return of 16.64%. Currently, Cadence Design Sys has a market capitalization of $77.61 billion. 
Buying $100 In CDNS: If an investor had bought $100 of CDNS stock 20 years ago, it would be worth $2,202.34 today based on a price of $285.20 for CDNS at the time of writing.
<h3>Cadence Design Sys's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714150832_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Cadence Design Sys Stock In The Last 20 Years

<ul>
<li>Cadence's best-in-class Integrity 3D-IC platform supercharged with new features</li>
<li>Revolutionary AI-driven digital and custom/analog full flows and optimized for TSMC 2nm process technologies</li>
<li>Comprehensive IP portfolio for TSMC's advanced nodes, new solver certifications and key advancements in photonics enable next-generation semiconductor design innovations</li>
</ul>
&nbsp;
Cadence Design Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) and TSMC have extended their longstanding collaboration by announcing a broad range of innovative technology advancements to accelerate design, including developments ranging from 3D-IC and advanced process nodes to design IP and photonics. This collaboration significantly advances system and semiconductor design for AI, automotive, aerospace, hyperscale and mobile applications and has resulted in the following recent technology achievements:
<ul>
<li>Cadence collaborates with TSMC to infuse the Integrity&#x2122; 3D-IC platform with new features and functionality: The Cadence Integrity 3D-IC platform, the industry's comprehensive solution certified for all the latest TSMC 3DFabric&#x2122; offerings, now supports a hierarchical 3Dblox specification developed to integrate multiple chiplets into hierarchies for reuse and modular design. It also includes new features developed to ease chiplet assembly and design, and an automated alignment markers insertion flow to accelerate the design and assembly of stacked chiplets on different interposers and packages.</li>
<li>Cadence's digital solutions are certified for TSMC N2 design flow, including Innovus&#x2122; Implementation System, Quantus&#x2122; Extraction Solution, Quantus Field Solver, Tempus&#x2122; Timing Signoff and ECO Solution, Pegasus&#x2122; Verification System, Liberate&#x2122; characterization, and the Voltus&#x2122; IC Power Integrity Solution. The Genus&#x2122; Synthesis Solution is also enabled for N2 technology. Cadence and TSMC are collaborating on AI-driven Cadence solutions to enable an AI-assisted design flow for productivity and optimization of PPA results.</li>
<li>The Cadence Custom/Analog Design Flow is fully certified for TSMC's latest N2 Process Design Kit (PDK): Cadence custom tools optimized for TSMC N2 PDKs include Virtuoso&#xAE; Schematic Editor for design capturing and the Virtuoso ADE Suite for analysis, which are both part of Virtuoso Studio, and the integrated Spectre&#xAE; Simulator. All have been enhanced for managing corner simulations, statistical analyses, design centering, and circuit optimization, which are now common with advanced nodes. Virtuoso Studio has also been augmented to support front-to-back process migration from schematic mapping to optimized design specifications to full-layout place-and-route automation. The Virtuoso Studio and Spectre Simulation platforms, including Spectre X, Spectre XPS and the Spectre RF Option, have achieved the latest TSMC N2 certifications.</li>
<li>Cadence and TSMC have worked closely together to release a Virtuoso Studio N16 to N6 RF migration reference flow to substantially reduce turnaround time: Purposed-based instance mapping rapidly retargets schematics, while EMX&#xAE; Planar 3D Solver provides inductor synthesis and EM extraction for nets and components during the design phase. The Virtuoso ADE Suite provides design optimization using Spectre Simulation's RF analysis capabilities, and Virtuoso Studio Layout tools accelerate the reuse and reimplementation of RF layouts while preserving design intent.</li>
<li>Cadence announces the availability of a comprehensive portfolio of industry-leading IP cores for TSMC's N3 process, including:
<ul>
<li>Cadence's IP for UCIe&#x2122; on TSMC N3 is available in both advanced and standard package options. Cadence also offers IP for UCIe on multiple processes and configurations to enable a comprehensive solution for die-to-die (D2D) interconnect for its customers.</li>
<li>The Cadence memory interface IP portfolio (DDR5, LPDDR5 and GDDR6) is silicon-proven with best-in-class system margins and a PPA-optimized architecture that is ready to enable next-generation enterprise, high-performance computing and AI applications.</li>
<li>Cadence's IP for PCIe&#xAE; 5.0/CXL2.0 and PCIe 6.0/CXL3.0 on TSMC N3 are designed to provide the highest link throughput and utilization while operating with low latency, providing customers with SoC design excellence.</li>
</ul>
</li>
<li>The Cadence EMX 3D Planar Solver has received certification for TSMC's N5 process technology: This certification enables joint customers to seamlessly integrate the EMX Solver into their advanced-node IC design flow, allowing for highly accurate EM analysis that can overcome the challenges of EM crosstalk and parasitics. Additionally, certification for N2 and N3 process technology is well underway.</li>
<li>Cadence unveils a new silicon photonics flow to support TSMC's Compact Universal Photonic Engine (COUPE) technology: Cadence and TSMC collaborate to develop a design flow for the COUPE 3D photonics process that features the Cadence Integrity 3D-IC platform. The TSMC COUPE technology enables the heterogeneous integration of photonics ICs with electrical ICs while minimizing coupling losses. The developing design flow from Cadence will support TSMC's COUPE technology and includes the Cadence Spectre X Simulator, Virtuoso Studio, EMX 3D Planar Solver and Pegasus Verification System, enabling joint customers to meet the most demanding system requirements and pave the way for high-performance computing applications.</li>
</ul>
"We have a distinguished track record collaborating with TSMC to deliver a broad set of innovations across EDA, packaging and IP to accelerate system and semiconductor design and enable customers to achieve aggressive time-to-market goals," said Chin-Chi Teng, SVP and GM, R&amp;D, Cadence. "These new certified design flows and standardized solutions allow customers to confidently design for TSMC advanced nodes and usher in improved design efficiency and technological advancements."
"TSMC works closely with Cadence to accelerate customer innovation by providing high-quality design tools certified for use with our most advanced processes," said Dan Kochpatcharin, Head of the Design Infrastructure Management Division at TSMC. "Through our longstanding collaboration, we're able to deliver greater value for the most advanced SoC designs, benefiting from the significant power and performance boost afforded by our latest technology innovations."

Cadence And TSMC Collaborate On Wide-Ranging Innovations To Transform System And Semiconductor Design

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$820.00</td>
<td>$30.3K</td>
<td>7.3K</td>
<td>36.2K</td>
</tr>
<tr>
<td>APH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$125.00</td>
<td>$36.0K</td>
<td>984</td>
<td>9.1K</td>
</tr>
<tr>
<td>AMD</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$152.50</td>
<td>$29.4K</td>
<td>5.0K</td>
<td>8.5K</td>
</tr>
<tr>
<td>CLSK</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>04/26/24</td>
<td>$19.00</td>
<td>$184.2K</td>
<td>4.9K</td>
<td>4.4K</td>
</tr>
<tr>
<td>MSFT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$407.50</td>
<td>$28.8K</td>
<td>1.4K</td>
<td>3.7K</td>
</tr>
<tr>
<td>SMCI</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$750.00</td>
<td>$27.9K</td>
<td>719</td>
<td>3.0K</td>
</tr>
<tr>
<td>IREN</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>11/15/24</td>
<td>$5.00</td>
<td>$170.0K</td>
<td>5.3K</td>
<td>1.0K</td>
</tr>
<tr>
<td>AVGO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>04/26/24</td>
<td>$1280.00</td>
<td>$54.4K</td>
<td>155</td>
<td>965</td>
</tr>
<tr>
<td>CDNS</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>11/15/24</td>
<td>$300.00</td>
<td>$44.6K</td>
<td>9</td>
<td>864</td>
</tr>
<tr>
<td>SOUN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$4.00</td>
<td>$31.8K</td>
<td>2.2K</td>
<td>714</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a call option sweep that happens to be bullish, expiring in 3 day(s) on April 26, 2024. This event was a transfer of 20 contract(s) at a $820.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $30.3K, with a price of $1515.0 per contract. There were 7309 open contracts at this strike prior to today, and today 36255 contract(s) were bought and sold. 
• Regarding APH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APH#NYSE">APH</a>), we observe a call option sweep with bullish sentiment. It expires in 24 day(s) on May 17, 2024. Parties traded 300 contract(s) at a $125.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $36.0K, with a price of $120.0 per contract. There were 984 open contracts at this strike prior to today, and today 9190 contract(s) were bought and sold. 
• For AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we notice a put option trade that happens to be bullish, expiring in 3 day(s) on April 26, 2024. This event was a transfer of 100 contract(s) at a $152.50 strike. The total cost received by the writing party (or parties) was $29.4K, with a price of $294.0 per contract. There were 5050 open contracts at this strike prior to today, and today 8589 contract(s) were bought and sold. 
• Regarding CLSK (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>), we observe a call option trade with neutral sentiment. It expires in 3 day(s) on April 26, 2024. Parties traded 996 contract(s) at a $19.00 strike. The total cost received by the writing party (or parties) was $184.2K, with a price of $185.0 per contract. There were 4968 open contracts at this strike prior to today, and today 4459 contract(s) were bought and sold. 
• For MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we notice a call option sweep that happens to be bullish, expiring in 3 day(s) on April 26, 2024. This event was a transfer of 33 contract(s) at a $407.50 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $28.8K, with a price of $875.0 per contract. There were 1454 open contracts at this strike prior to today, and today 3776 contract(s) were bought and sold. 
• For SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we notice a put option trade that happens to be bearish, expiring in 3 day(s) on April 26, 2024. This event was a transfer of 10 contract(s) at a $750.00 strike. The total cost received by the writing party (or parties) was $27.9K, with a price of $2791.0 per contract. There were 719 open contracts at this strike prior to today, and today 3053 contract(s) were bought and sold. 
• For IREN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>), we notice a put option trade that happens to be neutral, expiring in 206 day(s) on November 15, 2024. This event was a transfer of 1000 contract(s) at a $5.00 strike. The total cost received by the writing party (or parties) was $170.0K, with a price of $170.0 per contract. There were 5390 open contracts at this strike prior to today, and today 1000 contract(s) were bought and sold. 
• For AVGO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), we notice a call option sweep that happens to be neutral, expiring in 3 day(s) on April 26, 2024. This event was a transfer of 75 contract(s) at a $1280.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $54.4K, with a price of $726.0 per contract. There were 155 open contracts at this strike prior to today, and today 965 contract(s) were bought and sold. 
• Regarding CDNS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>), we observe a call option trade with neutral sentiment. It expires in 206 day(s) on November 15, 2024. Parties traded 20 contract(s) at a $300.00 strike. The total cost received by the writing party (or parties) was $44.6K, with a price of $2230.0 per contract. There were 9 open contracts at this strike prior to today, and today 864 contract(s) were bought and sold. 
• Regarding SOUN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOUN#NASDAQ">SOUN</a>), we observe a call option trade with bearish sentiment. It expires in 87 day(s) on July 19, 2024. Parties traded 350 contract(s) at a $4.00 strike. The total cost received by the writing party (or parties) was $31.8K, with a price of $91.0 per contract. There were 2288 open contracts at this strike prior to today, and today 714 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AVGO

CLSK

IREN

SMCI

SOUN

10 Information Technology Stocks Whale Activity In Today's Session

To gain an edge, this is what you need to know today.
<img alt="" src="https://thearorareport.com/wp-content/uploads/2024/04/2024-04-23_08h41_13.png" style="height:362px; width:624px" />
<h3>Hedges Are Profitable</h3>
The Arora Report gave several signals to put&nbsp;hedges on to protect large profits on long-term positions. Hedges are now profitable.&nbsp;It is time to book partial profits on some hedges.&nbsp;&nbsp;
<h3>Semiconductors Stabilizing After 17% Drop&nbsp;</h3>
Please <a href="https://thearorareport.com/stock-market-chart-analysis-semiconductors-leading-sector-smh-mc-04232024">click here</a> for an enlarged chart of semiconductor ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smh#NASDAQ">SMH</a>).
Note the following:
<ul>
<li>Historically, semiconductors are the leading sector.&nbsp;Often semiconductors move first and then the rest of the market follows.</li>
<li>This time, there has been an additional factor &ndash; semiconductors have been at the center of the AI revolution.</li>
<li>The chart shows semiconductors have had a massive run.&nbsp;As full disclosure, The Arora Report&#39;s ZYX Allocation Core Model Portfolio has a large allocation to semiconductors, up to 16% of the portfolio.</li>
<li>The chart shows when the Arora signal was given to take partial profits close to the top.</li>
<li>The chart shows semiconductors dropped 17% from the top.</li>
<li>The chart shows semiconductors are attempting to stabilize at the microsupport zone.</li>
<li>The chart shows RSI is oversold.&nbsp;Oversold RSI often, but not always, leads to a bounce.</li>
<li>Among the earnings, there are two notable earnings.
<ul>
<li>General Motors Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) reported earnings significantly better than the whisper numbers.&nbsp;This indicates that in spite of high interest rates, consumers feel secure enough to buy new cars.</li>
<li>Cadence Design Systems Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdns#NASDAQ">CDNS</a>) is a leading provider of semiconductor design software.&nbsp;CDNS stock has run up due to the AI frenzy.&nbsp;The presumption has been that as chips become more complex, CDNS will benefit.&nbsp; CDNS guidance is below expectations.&nbsp;This indicates that the momo crowd euphoria about AI is overdone.&nbsp; As full disclosure, CDNS is one of 18 stocks on the Arora Artificial Intelligence List.&nbsp;&nbsp;</li>
</ul>
</li>
<li>In the short term, the course of the stock market will depend on earnings from Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>), Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>), Microsoft Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>),&nbsp;Alphabet Inc Class C (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>), and Alphabet Inc Class A (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>).</li>
</ul>
<h3>Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), Alphabet (GOOG), Meta (META), NVIDIA Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>), Microsoft (MSFT), and Tesla (TSLA).
In the early trade, money flows are neutral in Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>).
In the early trade, money flows are mixed in SPDR S&amp;P 500 ETF Trust (ARCA:SPY) and Invesco QQQ Trust Series 1 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>).
<h3>Momo Crowd And Smart Money In Stocks</h3>
The momo crowd is buying stocks in the early trade.&nbsp;Smart money is inactive in the early trade.
<h3>Gold</h3>
The momo crowd is selling gold in the early trade.&nbsp;Smart money is inactive in the early trade.
For longer-term, please see gold and silver ratings.
The most popular ETF for gold is SPDR Gold Trust (ARCA:GLD). The most popular ETF for silver is iShares Silver Trust (ARCA:SLV).&nbsp;
<h3>Oil</h3>
The momo crowd is selling oil in the early trade.&nbsp; Smart money is inactive in the early trade.
For longer-term, please see oil ratings.
The most popular ETF for oil is United States Oil ETF (ARCA:USO).
<h3>Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is range bound.&nbsp;Bitcoin bulls are disappointed that bitcoin is not running up immediately after the halving.&nbsp;
<h3>Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp;The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp;If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp;When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp;High beta stocks are the ones that move more than the market.
<h3>Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of seven year duration or less.&nbsp;Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter">Generate Wealth Newsletter</a>.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

ABEO: -55% &#x7C;&nbsp;<a href="https://www.benzinga.com//node/38376103">Abeona Therapeutics shares are trading lower after the company announced the FDA issued a Complete Response Letter in response to the company&#39;s Biologics License Application for pz-cel for the treatment of patients with recessive dystrophic epidermolysis bullosa.</a>
CDNS: -10% &#x7C;&nbsp;<a href="https://www.benzinga.com//node/38374134">Cadence Design System shares are trading lower after the company issued Q2 adjusted EPS and sales guidance below estimates.</a>
IBRX: 41% &#x7C;&nbsp;<a href="https://www.benzinga.com//node/38369594">ImmunityBio Has Received FDA Approval For ANKTIVA, A First-In-Class IL-15 Receptor Agonist, For BCG-Unresponsive Non-Muscle Invasive Bladder Cancer</a>

Market-Moving News for April 23rd

<h3>Gainers</h3>
<ul>
<li>Cyngn (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYN#NASDAQ">CYN</a>) stock rose 58.1% to $0.19 during Tuesday's pre-market session. The company's market cap stands at $17.0 million. </li>
<li>Alpha Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATGL#NASDAQ">ATGL</a>) shares rose 15.38% to $3.3. The company's market cap stands at $50.3 million. </li>
<li>ACM Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACMR#NASDAQ">ACMR</a>) stock increased by 11.84% to $28.8. The market value of their outstanding shares is at $1.7 billion. </li>
<li>Sequans Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQNS#NYSE">SQNS</a>) shares increased by 11.38% to $0.56. The market value of their outstanding shares is at $34.6 million. </li>
<li>Gorilla Tech Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRRR#NASDAQ">GRRR</a>) stock moved upwards by 9.49% to $6.34. The company's market cap stands at $55.1 million. </li>
<li>Lantronix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LTRX#NASDAQ">LTRX</a>) stock rose 7.57% to $3.41. The company's market cap stands at $127.7 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Calix (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CALX#NYSE">CALX</a>) stock decreased by 15.8% to $24.9 during Tuesday's pre-market session. The market value of their outstanding shares is at $1.6 billion. As per the press release, Q1 earnings came out yesterday. </li>
<li>Intellicheck (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDN#NASDAQ">IDN</a>) stock fell 10.43% to $2.75. The company's market cap stands at $53.3 million. </li>
<li>Xerox Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NASDAQ">XRX</a>) stock fell 8.04% to $15.1. The market value of their outstanding shares is at $1.8 billion. The company's, Q1 earnings came out today. </li>
<li>Tungray Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRSG#NASDAQ">TRSG</a>) stock declined by 7.82% to $6.82. The market value of their outstanding shares is at $31.1 million. </li>
<li>BIO-key Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKYI#NASDAQ">BKYI</a>) stock decreased by 7.23% to $1.54. The market value of their outstanding shares is at $2.7 million. </li>
<li>Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) stock declined by 6.57% to $266.3. The market value of their outstanding shares is at $72.5 billion. As per the press release, Q1 earnings came out yesterday. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ACMR

ATGL

BKYI

GRRR

LTRX

SQNS

12 Information Technology Stocks Moving In Tuesday's Pre-Market Session

Shares of Hibbett, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIBB#NASDAQ">HIBB</a>) rose sharply in today's pre-market trading after the company agreed to be acquired by JD Sports Fashion for $87.50 per share in cash, in a <a href="https://www.benzinga.com/quote/HIBB/news">$1.1 billion transaction</a>.
Hibbett shares jumped 18.4% to $85.83 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Pineapple Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEGY#NASDAQ">PEGY</a>) shares gained 38% to $0.0632 in pre-market trading after falling 10% on Monday</li>
<li>ImmunityBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>) gained 34.6% to $6.65 in pre-market trading after the company received FDA approval for ANKTIVA, a first-in-class IL-15 receptor agonist, for BCG-unresponsive non-muscle invasive bladder cancer.</li>
<li>Nuwellis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) gained 31.5% to $0.43 in pre-market trading after the company received a notice of allowance for its U.S. patent application 18/463,612 titled &#8220;Venous Blood Flow Stimulator For Extracorporeal Therapy&#8221;</li>
<li>AGBA Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGBA#NASDAQ">AGBA</a>) climbed 24% to $3.10 in pre-market trading on continued upward momentum after the company on Friday announced it entered into a definitive merger agreement with Triller.</li>
<li>HWH International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWH#NASDAQ">HWH</a>) rose 15.5% to $1.48 in today's pre-market trading after declining 3% on Monday.</li>
<li>Theriva Biologics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOVX#NYSE">TOVX</a>) gained 15.5% to $0.4748 in pre-market trading after the company announced it will present preclinical data for the potential synergy of VCN-01 and first-line pancreatic cancer chemotherapy regimens at the American Society for Cell and Gene Therapy 27th Annual Meeting.</li>
<li>Azitra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZTR#NYSE">AZTR</a>) shares gained 13.5% to $0.2216 in pre-market trading after the company announced new preclinical data will be presented at the American Society of Gene and Cell Therapy meeting.</li>
<li>China Natural Resources, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHNR#NASDAQ">CHNR</a>) shares gained 12% to $1.12 in pre-market trading.</li>
<li>Cidara Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDTX#NASDAQ">CDTX</a>) shares rose 11.9% to $0.5750 in pre-market trading following upbeat quarterly results.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Abeona Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABEO#NASDAQ">ABEO</a>) fell 48.1% to $3.82 in pre-market trading after the company announced the FDA issued a Complete Response Letter in response to the company&#8217;s Biologics License Application for pz-cel for the treatment of patients with recessive dystrophic epidermolysis bullosa.</li>
<li>Greenwave Technology Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GWAV#NASDAQ">GWAV</a>) fell 31.1% to $0.0870 in pre-market trading after gaining over 8% on Monday.</li>
<li>T2 Biosystems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTOO#NASDAQ">TTOO</a>) declined 18.7% to $2.57 in pre-market trading after gaining around 7% on Monday.</li>
<li>Phio Pharmaceuticals Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHIO#NASDAQ">PHIO</a>) fell 16.8% to $0.69 in pre-market trading. Phio Pharmaceuticals shares jumped around 33% on Monday after the company announced that its intratumoral injection of murine PH-762 inhibited tumor growth in murine tumor models and may generate memory-specific T cells.</li>
<li>Calix, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CALX#NYSE">CALX</a>) shares fell 16.8% to $24.60 in pre-market trading after the company reported mixed first-quarter financial results and issued second-quarter guidance below estimates.</li>
<li>Complete Solaria, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSLR#NASDAQ">CSLR</a>) fell 13.7% to $0.3360 in pre-market trading after dipping around 14% on Monday.</li>
<li>Tungray Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRSG#NASDAQ">TRSG</a>) shares declined 13.7% to $6.37 in pre-market trading after gaining 24% on Monday.</li>
<li>Jaguar Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAGX#NASDAQ">JAGX</a>) shares fell 12.1% to $0.1581 in pre-market trading after the company filed for a mixed shelf offering of up to $75 million.</li>
<li>YY Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YYGH#NASDAQ">YYGH</a>) fell 13.8% to $2.50 pre-market trading after tumbling over 27% on Monday. The company, last week, priced its IPO at $4 per share.</li>
<li>Cadence Design Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) fell 5.7% to $268.91 pre-market trading after the company issued second-quarter guidance below estimates.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38370420/general-motors-tesla-and-3-stocks-to-watch-heading-into-tuesday">General Motors, Tesla And 3 Stocks To Watch Heading Into Tuesday</a>

WIIM

Cadence Design System shares are trading lower after the company issued Q2 adjusted EPS and sales guidance below estimates.

Needham analyst Charles Shi reiterates Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) with a Buy and maintains $320 price target.

Price Target

Reiteration

Analyst Ratings

Needham Reiterates Buy on Cadence Design Sys, Maintains $320 Price Target

U.S. stock futures were slightly higher this morning, with the Dow futures gaining over 20 points on Tuesday.
Shares of Calix, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CALX#NYSE">CALX</a>) fell sharply in today's pre-market trading after the company reported mixed first-quarter financial results and issued second-quarter <a href="https://www.benzinga.com/quote/CALX">guidance below estimates</a>.
Calix posted adjusted earnings of 21 cents per share, beating market estimates of 20 cents per share. The company's quarterly sales came in at $226.310 million, missing expectations of $228.139 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Calix shares dipped 16.8% to $24.60 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Abeona Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABEO#NASDAQ">ABEO</a>) fell 48.1% to $3.82 in pre-market trading after the company announced the FDA issued a Complete Response Letter in response to the company&#8217;s Biologics License Application for pz-cel for the treatment of patients with recessive dystrophic epidermolysis bullosa.</li>
<li>Sasol Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSL#NYSE">SSL</a>) shares fell 8.1% to $7.29 in pre-market trading after the company issued published its production and sales performance metrics for the nine months ended 31 March, 2024.</li>
<li>Cadence Design Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) fell 5.7% to $268.91 pre-market trading after the company issued second-quarter guidance below estimates.</li>
<li>Harmony Gold Mining Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMY#NYSE">HMY</a>) shares slipped 4.5% to $8.32 in pre-market trading after falling 6% on Monday.</li>
<li>Mobile-health Network Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDR#NASDAQ">MNDR</a>) shares fell 4.1% to $22.87 in pre-market trading after dipping over 12% on Monday. The company issued H1 2024 financial guidance.</li>
<li>Sibanye Stillwater Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBSW#NYSE">SBSW</a>) shares fell 4% to $4.78 in pre-market trading.</li>
<li>Lufax Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LU#NYSE">LU</a>) shares declined 3.9% to $4.22 in pre-market trading after the company reported first-quarter results and said David Siu Kam Choy tendered his resignation as CFO due to personal reasons.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/04/38370585/investor-optimism-improves-but-fear-greed-index-remains-in-fear-zone">Investor Optimism Improves, But Fear &amp; Greed Index Remains In &#8216;Fear&#8217; Zone</a>
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>

Calix Reports Mixed Results, Joins Cadence Design Systems And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

Piper Sandler analyst Clarke Jeffries maintains Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) with a Neutral and lowers the price target from $334 to $318.

Piper Sandler Maintains Neutral on Cadence Design Sys, Lowers Price Target to $318

Cadence Design Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) reported its first-quarter financial results after the bell Monday. Here's a <a href="https://www.benzinga.com/pressreleases/24/04/b38364729/cadence-reports-first-quarter-2024-financial-results">look at the details.&nbsp;</a>
The Details: The company reported quarterly earnings of $1.17 per share which beat the analyst consensus estimate of $1.13 by 3.54%. 
Quarterly sales clocked in at $1.009 billion which beat the analyst consensus estimate of $1.002 billion by 0.67%. 
Cadence Design reported Non-GAAP operating margin of 38%, compared to 42% from the same quarter in 2023. 
&#8220;Q1 was a strong start to the year for Cadence as we delivered solid Q1 results. I&#8217;m pleased with our record Q1 backlog that reflects our broad-based strength and product leadership,&#8221; said Anirudh Devgan, CEO of Cadence Design Systems. 
&#8220;We&#8217;re thrilled with the momentum of our Cadence.AI portfolio which is providing customers with the most comprehensive and impactful chip-to-systems design capabilities and are excited about the launch of our innovative third-generation Dynamic Duo hardware platforms that further expands our leadership,&#8221; Devgan added.
Outlook:&nbsp; The company sees second-quarter adjusted earnings of between $1.20 and $1.24 per share, below the $1.43 analyst estimate and second-quarter revenue of between $1.03 billion and $1.05B, versus the $1.11 billion estimate. 
Cadence sees full-year 2024 adjusted earnings of between $5.88 and $5.98 per share, versus the $5.94 estimate and full-year revenue of between $4.56 billion and $4.62 billion, versus the $4.59 billion estimate. 
Related News: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38363141/why-microstrategy-stock-is-climbing">Why MicroStrategy Stock Is Climbing</a>
CDNS Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Cadence Design Systems shares are down 8.77% after-hours at $258.02 at the time of publication Monday.
Photo: Pete Linforth from Pixabay

Earnings

Guidance

After-Hours Center

Cadence Design Systems Reports Q1, Guides Below Q2 Estimates

<h3>Gainers</h3>
<ul>
<li>AuthID (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUID#NASDAQ">AUID</a>) stock rose 10.0% to $8.5 during Monday's after-market session. The market value of their outstanding shares is at $80.3 million. </li>
<li>XIAO-I (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIXI#NASDAQ">AIXI</a>) stock rose 9.48% to $1.46. The company's market cap stands at $104.9 million. </li>
<li>Gorilla Tech Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRRR#NASDAQ">GRRR</a>) stock rose 6.21% to $6.15. The market value of their outstanding shares is at $53.4 million. </li>
<li>UTime (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTO#NASDAQ">WTO</a>) shares increased by 6.01% to $0.24. The company's market cap stands at $3.3 million. </li>
<li>Alpine 4 Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALPP#NASDAQ">ALPP</a>) stock rose 4.99% to $0.79. The company's market cap stands at $21.2 million. </li>
<li>Akoustis Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKTS#NASDAQ">AKTS</a>) shares rose 4.26% to $0.57. The market value of their outstanding shares is at $56.2 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Calix (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CALX#NYSE">CALX</a>) stock declined by 15.3% to $25.05 during Monday's after-market session. The company's market cap stands at $1.6 billion. As per the press release, Q1 earnings came out today. </li>
<li>Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) stock declined by 8.78% to $260.01. The company's market cap stands at $70.8 billion. The company's, Q1 earnings came out today. </li>
<li>Taoping (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TAOP#NASDAQ">TAOP</a>) shares declined by 4.72% to $1.01. The market value of their outstanding shares is at $1.9 million. </li>
<li>MariaDB (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRDB#NYSE">MRDB</a>) stock decreased by 3.87% to $0.44. The market value of their outstanding shares is at $29.8 million. </li>
<li>Sprinklr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXM#NYSE">CXM</a>) shares decreased by 3.51% to $11.06. The company's market cap stands at $3.0 billion. </li>
<li>Vertex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERX#NASDAQ">VERX</a>) stock fell 3.47% to $29.0. The company's market cap stands at $4.4 billion. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AIXI

AKTS

ALPP

AUID

MRDB

TAOP

VERX

12 Information Technology Stocks Moving In Monday's After-Market Session

Cadence Q1 Non-GAAP Operating Margin 38%, Down From 42% YoY

Cadence Sees FY24 Adj. EPS $5.88-$5.98 vs $5.94 Est., Revenue $4.56B-$4.62B vs $4.59B Est.; Sees Q2 Adj. EPS $1.20-$1.24 vs $1.43 Est., Revenue $1.03B-$1.05B vs $1.11B Est.

Cadence Raises 2024 Revenue Outlook

Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) reported quarterly earnings of $1.17 per share which beat the analyst consensus estimate of $1.13 by 3.54 percent. The company reported quarterly sales of $1.009 billion which beat the analyst consensus estimate of $1.002 billion by 0.67 percent. This is a 1.27 percent decrease over sales of $1.022 billion the same period last year.

Earnings Beats

Cadence Design Sys Q1 2024 Adj EPS $1.17 Beats $1.13 Estimate, Sales $1.009B Beat $1.002B Estimate

In the latest quarter, 16 analysts provided ratings for Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>), showcasing a mix of bullish and bearish perspectives.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">9</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $323.75, a high estimate of $350.00, and a low estimate of $280.00. This current average has increased by 7.83% from the previous average price target of $300.23. 
<img src="https://www.benzinga.com/files/images/story/2024/1713812441_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Cadence Design Sys. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Blair Abernethy</td>
<td>Rosenblatt</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$280.00</td>
<td>$280.00</td>
</tr>
<tr>
<td>Joe Vruwink</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$322.00</td>
<td>$302.00</td>
</tr>
<tr>
<td>Charles Shi</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$320.00</td>
<td>-</td>
</tr>
<tr>
<td>Joe Vruwink</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$322.00</td>
<td>$302.00</td>
</tr>
<tr>
<td>Gary Mobley</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$350.00</td>
<td>$330.00</td>
</tr>
<tr>
<td>Jason Celino</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$340.00</td>
<td>$335.00</td>
</tr>
<tr>
<td>Clarke Jeffries</td>
<td>Piper Sandler</td>
<td>Announces</td>
<td>Neutral</td>
<td>$334.00</td>
<td>-</td>
</tr>
<tr>
<td>Charles Shi</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$320.00</td>
<td>-</td>
</tr>
<tr>
<td>Lee Simpson</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$350.00</td>
<td>$260.00</td>
</tr>
<tr>
<td>Blair Abernethy</td>
<td>Rosenblatt</td>
<td>Raises</td>
<td>Neutral</td>
<td>$280.00</td>
<td>$265.00</td>
</tr>
<tr>
<td>Joe Vruwink</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$302.00</td>
<td>$289.00</td>
</tr>
<tr>
<td>Ruben Roy</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$350.00</td>
<td>$300.00</td>
</tr>
<tr>
<td>Charles Shi</td>
<td>Needham</td>
<td>Raises</td>
<td>Buy</td>
<td>$320.00</td>
<td>$315.00</td>
</tr>
<tr>
<td>Jason Celino</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$335.00</td>
<td>$325.00</td>
</tr>
<tr>
<td>Gary Mobley</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$330.00</td>
<td>$310.00</td>
</tr>
<tr>
<td>Jason Celino</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$325.00</td>
<td>$290.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Cadence Design Sys. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Cadence Design Sys compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Cadence Design Sys's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into Cadence Design Sys's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/CDNS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Cadence Design Sys analyst ratings.</a>
<h2>Discovering Cadence Design Sys: A Closer Look</h2>
Cadence Design Systems is a provider of electronic design automation software, intellectual property, and system design and analysis products. EDA software automates the chip design process, enhancing design accuracy, productivity, and complexity in a full-flow end-to-end solution. Cadence offers a portfolio of design IP, as well as system design and analysis products, which enable system-level analysis and verification solutions. Cadence's comprehensive portfolio is benefiting from a mutual convergence of semiconductor companies moving up-stack toward systems-like companies, and systems companies moving down-stack toward in-house semiconductor design. The resulting expansion in EDA customers, alongside secular digitalization of various end markets, benefits EDA vendors like Cadence.
<h3>Unraveling the Financial Story of Cadence Design Sys</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Revenue Growth: Over the 3 months period, Cadence Design Sys showcased positive performance, achieving a revenue growth rate of 18.75% as of 31 December, 2023. This reflects a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: Cadence Design Sys's net margin excels beyond industry benchmarks, reaching 30.31%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Cadence Design Sys's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 9.94%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Cadence Design Sys's ROA stands out, surpassing industry averages. With an impressive ROA of 5.84%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: With a below-average debt-to-equity ratio of 0.22, Cadence Design Sys adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Analyst Ratings: What Are They?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Expert Ratings For Cadence Design Sys

<h3>Companies Reporting Before The Bell</h3>
&bull; MainStreet Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNSB#NASDAQ">MNSB</a>) is projected to report quarterly earnings at $0.52 per share on revenue of $17.10 million.
&bull; Dynex Cap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DX#NYSE">DX</a>) is likely to report quarterly loss at $0.09 per share on revenue of $-570 thousand.
&bull; Zions Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>) is projected to report quarterly earnings at $0.98 per share on revenue of $743.48 million.
&bull; Verizon Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) is likely to report quarterly earnings at $1.12 per share on revenue of $33.24 billion.
&bull; HBT Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBT#NASDAQ">HBT</a>) is projected to report quarterly earnings at $0.55 per share on revenue of $56.63 million.
&bull; AZZ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) is projected to report quarterly earnings at $0.70 per share on revenue of $351.67 million.
&bull; Truist Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>) is estimated to report quarterly earnings at $0.80 per share on revenue of $5.70 billion.
&bull; Sify Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIFY#NASDAQ">SIFY</a>) is estimated to report quarterly earnings at $0.00 per share on revenue of $149.30 million.
&bull; Washington Trust Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WASH#NASDAQ">WASH</a>) is likely to report quarterly earnings at $0.45 per share on revenue of $31.50 million.
&bull; Bank of Hawaii (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOH#NYSE">BOH</a>) is estimated to report quarterly earnings at $0.87 per share on revenue of $160.21 million.
&bull; Kaspi.kz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KSPI#NASDAQ">KSPI</a>) is estimated to report earnings for its first quarter.
&bull; Albertsons Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) is expected to report quarterly earnings at $0.52 per share on revenue of $18.47 billion.
<h3>Companies Reporting After The Bell</h3>
&bull; Globe Life (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GL#NYSE">GL</a>) is expected to report quarterly earnings at $2.79 per share on revenue of $1.42 billion.
&bull; NBT Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBTB#NASDAQ">NBTB</a>) is likely to report quarterly earnings at $0.68 per share on revenue of $135.32 million.
&bull; Simpson Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSD#NYSE">SSD</a>) is expected to report quarterly earnings at $1.92 per share on revenue of $549.85 million.
&bull; Crane (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CR#NYSE">CR</a>) is projected to report quarterly earnings at $1.12 per share on revenue of $546.38 million.
&bull; Hexcel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HXL#NYSE">HXL</a>) is likely to report quarterly earnings at $0.41 per share on revenue of $473.78 million.
&bull; RLI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLI#NYSE">RLI</a>) is expected to report quarterly earnings at $1.60 per share on revenue of $367.78 million.
&bull; Alexandria Real Estate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARE#NYSE">ARE</a>) is likely to report quarterly earnings at $2.32 per share on revenue of $772.57 million.
&bull; Ameriprise Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMP#NYSE">AMP</a>) is expected to report quarterly earnings at $8.20 per share on revenue of $4.12 billion.
&bull; Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) is projected to report quarterly earnings at $0.22 per share on revenue of $5.35 billion.
&bull; SAP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) is expected to report quarterly earnings at $1.11 per share on revenue of $8.56 billion.
&bull; AGNC Investment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGNC#NASDAQ">AGNC</a>) is expected to report quarterly earnings at $0.57 per share on revenue of $473.78 million.
&bull; Servisfirst Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NYSE">SFBS</a>) is expected to report quarterly earnings at $0.88 per share on revenue of $109.10 million.
&bull; HealthStream (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSTM#NASDAQ">HSTM</a>) is likely to report quarterly earnings at $0.11 per share on revenue of $72.02 million.
&bull; Lufax Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LU#NYSE">LU</a>) is estimated to report quarterly earnings at $0.12 per share on revenue of $1.02 billion.
&bull; Equity Lifestyle Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELS#NYSE">ELS</a>) is expected to report quarterly earnings at $0.49 per share on revenue of $387.14 million.
&bull; SmartFinancial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMBK#NYSE">SMBK</a>) is expected to report quarterly earnings at $0.41 per share on revenue of $39.14 million.
&bull; Trustco Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRST#NASDAQ">TRST</a>) is expected to report quarterly earnings at $0.60 per share on revenue of $43.13 million.
&bull; Independent Bank Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBTX#NASDAQ">IBTX</a>) is expected to report quarterly earnings at $0.59 per share on revenue of $121.39 million.
&bull; Medpace Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDP#NASDAQ">MEDP</a>) is likely to report quarterly earnings at $2.46 per share on revenue of $512.58 million.
&bull; Cathay General (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CATY#NASDAQ">CATY</a>) is likely to report quarterly earnings at $0.98 per share on revenue of $187.46 million.
&bull; Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) is likely to report quarterly earnings at $1.13 per share on revenue of $1.00 billion.
&bull; Brown &amp; Brown (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRO#NYSE">BRO</a>) is estimated to report quarterly earnings at $1.06 per share on revenue of $1.22 billion.
&bull; Pinnacle Finl Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>) is likely to report quarterly earnings at $1.56 per share on revenue of $423.19 million.
&bull; Cadence Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CADE#NYSE">CADE</a>) is expected to report quarterly earnings at $0.55 per share on revenue of $427.01 million.
&bull; SPDR ICE Preferred Securities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSK#NYSE">PSK</a>) is estimated to report quarterly earnings at $0.18 per share on revenue of $129.00 million.
&bull; Enterprise Finl Servs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EFSC#NASDAQ">EFSC</a>) is expected to report quarterly earnings at $1.11 per share on revenue of $157.33 million.
&bull; RBB Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RBB#NASDAQ">RBB</a>) is likely to report quarterly earnings at $0.34 per share on revenue of $27.65 million.
&bull; Calix (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CALX#NYSE">CALX</a>) is likely to report quarterly earnings at $0.20 per share on revenue of $228.14 million.
&bull; First Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRBA#NASDAQ">FRBA</a>) is estimated to report quarterly earnings at $0.42 per share on revenue of $31.41 million.
&bull; Packaging Corp of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>) is likely to report quarterly earnings at $1.62 per share on revenue of $1.90 billion.
&bull; Nucor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) is likely to report quarterly earnings at $3.85 per share on revenue of $8.51 billion.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

AGNC

CADE

CATY

EFSC

FRBA

HSTM

IBTX

KSPI

MEDP

MNSB

NBTB

PNFP

SFBS

SIFY

SMBK

TRST

WASH

ZION

Earnings Scheduled For April 22, 2024

Cadence Design Systems, Inc. (CDNS) Q1 2024 Earnings Call Transcript

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Cadence Design Sys (NASDAQ:<a href="https://investorplace.com/stock-quotes/cdns-stock-quote/">CDNS</a>) just reported results for the first quarter of 2024.<ul><li>Cadence Design Sys reported earnings per share of $1.17. This was above the analyst estimate for EPS of $1.13.</li><li>The company reported revenue of $1.01 billion.</li><li>This was 0.90% better than the analyst estimate for revenue of $1.00 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	The post <a href="https://investorplace.com/earning-results/2024/04/cdns-stock-earnings-cadence-design-sys-for-q1-of-2024/">CDNS Stock Earnings: Cadence Design Sys Beats EPS, Beats Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

CDNS Stock Earnings: Cadence Design Sys Beats EPS, Beats Revenue for Q1 2024

There's a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Adyen (ADYYF – Research Report) and Cadence Design (...

Analysts Offer Insights on Technology Companies: Adyen (OtherADYYF) and Cadence Design (CDNS)

Analyst Vivek Arya of Bank of America Securities reiterated a Buy rating on Cadence Design (CDNS – Research Report), retaining the price target of ...

Strong Growth and Positive Long-Term Outlook Justify Buy Rating for Cadence Design Systems

Analysts have been eager to weigh in on the Technology sector with new ratings on Tyler Technologies (TYL – Research Report), Cadence Design (CDNS ...

Analysts Have Conflicting Sentiments on These Technology Companies: Tyler Technologies (TYL), Cadence Design (CDNS) and Apple (AAPL)

Cadence Design (CDNS – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Charles Shi from Need...

Maintaining Buy on Cadence Design: A Temporary Setback Offset by Strong 2024 Outlook and Upcoming Hardware Launch

There's a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Lam Research (LRCX – Research Report), Cadence Desig...

Analysts Are Bullish on These Technology Stocks: Lam Research (LRCX), Cadence Design (CDNS)

Analyst Joseph Vruwink of Robert W. Baird maintained a Buy rating on Cadence Design (CDNS – Research Report), retaining the price target of $322.00...

Buy Rating on Cadence Design: Strong H2 Revenue Growth and Innovative Product Line Justify Positive Outlook

Cadence Design Systems extends collaboration with TSMC

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
After leading the market higher coming out of the 2022 bear market, <a href="https://investorplace.com/industries/technology/">technology stocks</a> have hit a rough patch. Sentiment towards the mega-cap tech companies has also shifted, as it now looks like interest rates will remain higher for longer. 



At the same time, geopolitical instability and spiking bond yields have zapped investors&rsquo; risk appetite. Throw in <a href="https://www.thestreet.com/technology/analyst-issues-stark-warning-on-big-tech-stocks-ahead-of-earnings">hit-and-miss earnings reports</a> and shifting consumer habits, and you have the makings of a downturn. 



In the last month, the tech-laden Nasdaq Composite Index has fallen 5%, with much of that decline coming since April 11. Some tech stocks have been hit worse than others, as signs emerge that their business may be slowing or the outlook for the remainder of the year has changed. 



Wall Street appears to be bracing for more downside ahead, with some analysts calling for <a href="https://www.bnnbloomberg.ca/jpmorgan-s-kolanovic-says-correction-in-us-stocks-isn-t-over-1.2062338">a full-blown 10% market correction</a>. In this rapidly evolving environment, investors should reposition their portfolio and batten down the hatches.



Here are three tech stocks to sell now before the next market downturn hits.



<h2>Cadence Design Systems (CDNS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/cdns-stock-1-300x169.jpg" alt="A Cadence corporate office building has a sign with the company logo out front"><div>Source: mrinalpal / Shutterstock.com</div></div>The stock of Cadence Design Systems (NASDAQ:<a href="https://investorplace.com/stock-quotes/cdns-stock-quote/">CDNS</a>) fell after the maker of semiconductor-design software issued forward guidance that <a href="https://www.barrons.com/articles/cadence-earnings-stock-d8e72d05">fell short of Wall Street forecasts.</a> Disappointing guidance is starting to become a theme at Cadence Design, which did the same thing in January of this year, sending its share price lower. CDNS stock is now up about 6% on the year, lagging the performance of many other <a href="https://investorplace.com/industries/technology/semiconductor/">semiconductor stocks</a>. <a href="https://investorplace.com/cryptocurrency//"></a>



The <a href="https://www.investors.com/news/technology/cdns-stock-cadence-design-q1-2024-earnings/">weak guidance</a> is particularly frustrating, given that Cadence Design Systems consistently beats Wall Street expectations in its quarterly earnings. The company reported first quarter 2024 earnings per share of $1.17, which was better than the $1.13 expected among analysts. Revenue in Q1 totaled $1 billion, which was inline with forecasts. Cadence Design also said that it ended Q1 with a record backlog of $6 billion in orders. 



Despite the earnings beat and record orders, management once again provided <a href="https://www.marketwatch.com/story/cadence-design-systems-shares-drop-8-8-after-2q-outlook-missed-expectations-c7b8549c?mod=markets">guidance below analysts&rsquo; expectations</a>. The company now projects revenue of $1.03 billion to $1.05 billion for the current second quarter, with earnings of $1.20 to $1.24 per share. Analysts had been looking for Q2 revenue of $1.10 billion and $1.43 a share in earnings. The weak outlook makes Cadence Design Systems a tech stock to sell. 



<h2>Netflix (NFLX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/06/nflx1600-300x169.png" alt="Netflix (NFLX) stock index is seen on a smartphone screen. It is an American subscription streaming service and production company"><div>Source: TY Lim / Shutterstock.com</div></div>Don&rsquo;t mess with the subscriber numbers. That was the takeaway from the Q1 print of Netflix (NASDAQ:<a href="https://investorplace.com/stock-quotes/nflx-stock-quote/">NFLX</a>). The streaming giant&rsquo;s stock fell 10% after management announced that they will no longer report quarterly membership numbers and average revenue per membership. 



Moreover, the leadership team said they are stopping the <a href="https://www.reuters.com/technology/netflix-slips-after-stopping-subscriber-tally-report-downbeat-q2-revenue-2024-04-19/">reporting of subscriber numbers</a>, as they want investors to focus instead on metrics such as revenue, operating margins and free cash flow. That news did not go over well with investors. 



More than a few analysts said the move is a red flag and a sign that subscriber growth is slowing at the world&rsquo;s largest movie and TV streaming platform. Subscriber numbers have always been a way for analysts and investors to compare Netflix and its growth to competing streaming services, such as those offered by Walt Disney Co. (NYSE:<a href="https://investorplace.com/stock-quotes/dis-stock-quote/">DIS</a>). 



News that the reporting of subscribers will be ending at Netflix completely overshadowed what was otherwise <a href="https://www.cnbc.com/2024/04/18/netflix-nflx-earnings-q1-2024.html#:~:text=The%20company%20posted%20revenue%20of,supported%20tier%20to%20boost%20revenue.">a strong Q1 print</a> from the company.



While NFLX stock is still up about 26% on the year, any signs of <a href="https://www.hollywoodreporter.com/business/business-news/netflix-to-stop-providing-subscriber-numbers-1235877111/">slowing subscriber growth </a>are likely to be problematic for the company and its share price moving forward. As such, Netflix looks like a tech stock to sell before the next market downturn hits. 



<h2>Apple (AAPL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/09/aapl1600-300x169.png" alt="Apple (AAPL) logo brand and text sign on entrance facade store American multinational boutique corporation dealership shop. Apple Layoffs"><div>Source: sylv1rob1 / Shutterstock.com</div></div>Of course, there are still reasons to like Apple (NASDAQ:<a href="https://investorplace.com/stock-quotes/aapl-stock-quote/">AAPL</a>), and the long-term outlook for the stock remains largely positive. But in the near-term, things are getting messy. 



Each piece of news related to the consumer electronics company seems to be worse than the last. Case in point: Apple&rsquo;s <a href="https://www.cnbc.com/2024/04/23/apple-iphone-sales-drop-19percent-in-china-as-huawei-demand-soars-counterpoint.html">iPhone sales in China</a> fell 19% during this year&rsquo;s first quarter, according to data from Counterpoint Research. Another <a href="https://www.cnbc.com/2024/04/15/apple-iphone-shipments-sink-as-chinese-challengers-rise-in-q1-idc.html">recent report </a>claimed that Q1 iPhone sales in China declined 9.6%.



At the same time, media reports note that Apple&rsquo;s senior executives have been selling millions of dollars worth of company stock ahead of the upcoming May 2 Q1 earnings. 



Apple CEO Tim Cook has sold $33.3 million of Apple stock in April. While Apple has said that the stock sales were prearranged, seeing the executive team <a href="https://www.barrons.com/articles/apple-stock-ceo-tim-cook-selling-a859bc86">dump AAPL stock</a> right before earnings as iPhone sales plunge is a bad look. It also puts more of a spotlight on Apple&rsquo;s upcoming print, which is shaping up to be a make or break moment for the stock.



On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> InvestorPlace.com Publishing Guidelines</a>. 
<div>Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.</div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	
The post <a href="https://investorplace.com/2024/04/3-tech-stocks-to-sell-now-before-the-next-market-downturn-hits/">3 Tech Stocks to Sell Now Before the Next Market Downturn Hits</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Tech Stocks to Sell Now Before the Next Market Downturn Hits

ADYYF

INFY

LRCX

NFLX

Press Releases

Cadence's Anirudh Devgan to Present at Morgan Stanley Conference

Cadence to Acquire BETA CAE, Expanding into Structural Analysis

Cadence Collaborates with Arm to Jumpstart the Automotive Chiplet Ecosystem

Cadence and NVIDIA Unveil Groundbreaking Generative AI and Accelerated Compute-Driven Innovations

Revolutionary Cadence Reality Digital Twin Platform to Transform Data Center Design for the AI Era

Cadence Named by Fortune and Great Place to Work as One of 2024's 100 Best Companies to Work For, Ranking No. 9

Cadence Announces First Quarter 2024 Financial Results Webcast

Cadence Unveils Palladium Z3 and Protium X3 Systems to Usher in a New Era of Accelerated Verification, Software Development and Digital Twins

Cadence Reports First Quarter 2024 Financial Results

Cadence and TSMC Collaborate on Wide-Ranging Innovations to Transform System and Semiconductor Design