Gifts Under $30 Gifts Under $50 iPhone Emergency SOS Saves Man MyHeritage 'Time Machine' Guardians of the Galaxy 3 Trailer White Bald Eagle Indiana Jones 5 Trailer Black Hole's 1,000 Trillion Suns
Want CNET to notify you of price drops and the latest stories?
No, thank you
Accept

Cadence Design Systems clipped by downgrade

Shares of Cadence Design Systems Inc. (NYSE: CDN) shaved off 7/8, or 6 percent, to 12 15/16 Monday after BancBoston Robertson Stephens cut the stock from a long-term "attractive" rating to "market perform."

Hambrecht & Quist started coverage of the software developer with a "market perform" rating as well.

The stock was zipping along at 34 3/8 in January before falling to a low of 10 5/8 in May.

First Call consensus expects it to earn 23 cents a share in its second quarter and $1.17 a share in the fiscal year.

Last quarter, it pocketed $1 million, or 5 cents a share, on sales of $29.9 million.

Eleven of the 13 analysts following the stock rate it a "hold."