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Technology Stocks : Cadence Design Systems

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To: Michael W. Brom who wrote (327)	3/22/1999 10:14:00 AM
From: Wizard	Read Replies (1) of 668

The stock looks like dead money for a while. They went through a restructuring last year but won't be firing on all cylinders this year. CDN's sales are under wall street forecasts despite improvement in Japan this quarter. They ate through all their backlog last year because they were coming in under plan on services and wanted to avoid having one big quarterly miss so they pulled forward revenues to make up for lost services revenues. Now they are back in backlog-building mode and as a result, have lowered sales forecasts a few times already this year. Of course, this is what they SAY. Given the software environment, many are assuming things are worse than they say and that CDN is in trouble. My thought is; the stock is quite cheap but I don't see a sustainable move up in the stock so it is for trading only. I would trade it as a long in April as I think things are ok but not great. Hope it helps.

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