Cadence Design Systems (NASDAQ:CDNS – Get Free Report) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.
Several other equities research analysts also 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 target price on Cadence Design Systems from $410.00 to $420.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Oppenheimer reiterated a “market perform” rating and issued a $300.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 28th. FBN Securities initiated coverage on Cadence Design Systems in a research note on Friday. They issued an “outperform” rating and a $375.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus target price of $403.88.
View Our Latest Research Report on CDNS
Cadence Design Systems Stock Performance
Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last posted its earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The business’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period last year, the company earned $1.65 earnings per share. 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. As a group, sell-side analysts predict that Cadence Design Systems will post 6.4 EPS for the current fiscal year.
Insider Transactions at Cadence Design Systems
In other Cadence Design Systems news, VP Paul Cunningham sold 2,000 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $323.32, for a total transaction of $646,640.00. Following the completion of the sale, the vice president owned 124,586 shares in the company, valued at approximately $40,281,145.52. The trade was a 1.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $320.88, for a total transaction of $401,100.00. Following the transaction, the director owned 40,794 shares in the company, valued at approximately $13,089,978.72. The trade was a 2.97% decrease in their position. 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 have sold 3,530 shares of company stock valued at $1,142,660 over the last ninety days. 0.49% of the stock is owned by company insiders.
Institutional Investors Weigh In On Cadence Design Systems
Hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System boosted its stake in Cadence Design Systems by 37,856.6% during the 2nd quarter. California State Teachers Retirement System now owns 154,968,502 shares of the software maker’s stock valued at $58,162,778,000 after purchasing an additional 154,560,224 shares during the last quarter. Norges Bank purchased a new stake in shares of Cadence Design Systems in the fourth quarter worth approximately $1,352,922,000. J. Stern & Co. LLP lifted its holdings in shares of Cadence Design Systems by 10,159.3% in the fourth quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock valued at $923,129,000 after purchasing an additional 2,924,470 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Cadence Design Systems in the second quarter valued at approximately $702,615,000. Finally, Jupiter Topco LLC purchased a new position in shares of Cadence Design Systems during the second quarter valued at approximately $688,746,000. 84.85% of the stock is owned by institutional investors.
Cadence Design Systems Company Profile
Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware and semiconductor intellectual property (IP). Its products help engineers design, verify and analyze integrated circuits, printed circuit boards and complete electronic systems.
The company offers solutions spanning digital and custom IC design, functional verification, digital and analog simulation, emulation and prototyping, system analysis, and 3D computational fluid dynamics.
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