Cadence Design Systems (NASDAQ:CDNS) Research Coverage Started at BNP Paribas Exane

BNP Paribas Exane began coverage on shares of Cadence Design Systems (NASDAQ:CDNS) in a research report report published on Thursday morning, Marketbeat reports. The brokerage issued an outperform rating and a $400.00 target price on the software maker’s stock.

Several other research analysts have also issued reports on CDNS. Rosenblatt Securities restated a “neutral” rating and set a $300.00 target price on shares of Cadence Design Systems in a research report on Friday, July 25th. Loop Capital raised their price target on Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. The Goldman Sachs Group assumed coverage on Cadence Design Systems in a research report on Thursday, July 10th. They issued a “buy” rating and a $380.00 price objective on the stock. BNP Paribas assumed coverage on Cadence Design Systems in a research report on Thursday. They set an “outperform” rating and a $400.00 target price for the company. Finally, Berenberg Bank set a $400.00 target price on shares of Cadence Design Systems in a research note on Wednesday, July 30th. Fourteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $368.53.

Cadence Design Systems Stock Up 0.0%

Shares of CDNS opened at $347.27 on Thursday. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average of $353.04 and a 200 day moving average of $314.12. The company has a market cap of $94.63 billion, a PE ratio of 93.86, a P/E/G ratio of 4.55 and a beta of 0.99. Cadence Design Systems has a 52-week low of $221.56 and a 52-week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.09. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm posted $1.28 earnings per share. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. On average, sell-side analysts expect that Cadence Design Systems will post 5.41 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the transaction, the director directly owned 7,830 shares of the company’s stock, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total value of $348,270.00. Following the completion of the sale, the vice president directly owned 99,672 shares of the company’s stock, valued at $34,712,767.44. The trade was a 0.99% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,680 shares of company stock valued at $3,729,852. 1.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cadence Design Systems

Several hedge funds and other institutional investors have recently modified their holdings of CDNS. Smallwood Wealth Investment Management LLC acquired a new stake in Cadence Design Systems in the 1st quarter worth approximately $25,000. Costello Asset Management INC purchased a new position in shares of Cadence Design Systems in the first quarter worth $25,000. Saudi Central Bank acquired a new stake in shares of Cadence Design Systems during the first quarter worth $27,000. Valley National Advisers Inc. grew its holdings in shares of Cadence Design Systems by 707.1% during the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock valued at $28,000 after buying an additional 99 shares during the last quarter. Finally, Barrett & Company Inc. acquired a new position in shares of Cadence Design Systems in the 2nd quarter valued at $31,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

About Cadence Design Systems

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.