Cadence Design Systems, Inc. (NASDAQ:CDNS – Get Free Report)’s stock price was down 6% on Tuesday . The stock traded as low as $323.09 and last traded at $318.4420. 316,449 shares changed hands during trading, a decline of 87% from the average daily volume of 2,421,269 shares. The stock had previously closed at $338.78.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Rosenblatt Securities lifted their price target on shares of Cadence Design Systems from $410.00 to $420.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Piper Sandler boosted their price target on shares of Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Citigroup upped their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Wells Fargo & Company raised their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $405.69.
View Our Latest Analysis on CDNS
Cadence Design Systems Price Performance
Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last announced its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.06. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the firm posted $1.65 earnings per share. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. On average, equities research analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current fiscal year.
Insider Activity at Cadence Design Systems
In other Cadence Design Systems news, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction on Monday, August 17th. The shares were sold at an average price of $323.32, for a total value of $646,640.00. Following the transaction, the vice president directly owned 124,586 shares in the company, valued at approximately $40,281,145.52. The trade was a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 280 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $339.00, for a total transaction of $94,920.00. Following the completion of the sale, the vice president directly owned 31,720 shares of the company’s stock, valued at $10,753,080. The trade was a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,221 shares of company stock worth $2,570,606 in the last three months. Company insiders own 0.49% of the company’s stock.
Hedge Funds Weigh In On Cadence Design Systems
Several institutional investors have recently added to or reduced their stakes in the stock. George Kaiser Family Foundation purchased a new position in Cadence Design Systems during the second quarter worth about $725,000. MUFG Securities EMEA plc boosted its holdings in Cadence Design Systems by 113.9% in the 4th quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock valued at $3,488,000 after purchasing an additional 5,943 shares in the last quarter. Sun Financial Inc purchased a new stake in Cadence Design Systems in the 4th quarter valued at approximately $1,225,000. Leonteq Securities AG acquired a new position in Cadence Design Systems during the 4th quarter worth approximately $1,105,000. Finally, PNC Financial Services Group Inc. increased its position in Cadence Design Systems by 1.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 369,717 shares of the software maker’s stock worth $115,566,000 after purchasing an additional 3,562 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.
Cadence Design Systems Company Profile
Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.
The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.
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