Cadence Design Systems (NASDAQ:CDNS – Get Free Report)‘s stock had its “buy” rating reiterated by stock analysts at Rosenblatt Securities in a research note issued to investors on Friday, Benzinga reports. They presently have a $420.00 price target on the software maker’s stock. Rosenblatt Securities‘s price objective indicates a potential upside of 32.71% from the company’s previous close.
Several other research firms have also recently weighed in on CDNS. Robert W. Baird raised their price objective on shares of Cadence Design Systems from $415.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $420.00 price objective (up from $400.00) on shares of Cadence Design Systems in a research report on Wednesday, October 7th. Morgan Stanley restated an “overweight” rating and set a $400.00 price objective (up from $370.00) on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Rothschild & Co Redburn raised their price objective on shares of Cadence Design Systems from $385.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Oppenheimer restated a “market perform” rating and set a $300.00 price objective (up from $275.00) on shares of Cadence Design Systems in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $404.14.
Check Out Our Latest Report on CDNS
Cadence Design Systems Price Performance
Shares of Cadence Design Systems stock traded up $6.84 on Friday, hitting $316.49. 2,320,886 shares of the company traded hands, compared to its average volume of 2,441,678. The firm’s 50-day simple moving average is $318.19 and its 200 day simple moving average is $340.32. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. The company has a market cap of $87.16 billion, a P/E ratio of 62.92, a P/E/G ratio of 3.49 and a beta of 1.13. Cadence Design Systems has a 12-month low of $262.75 and a 12-month high of $416.69.
Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.06. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business’s quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the company posted $1.65 EPS. 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. Analysts expect that Cadence Design Systems will post 6.42 earnings per share for the current fiscal year.
Insider Activity
In other Cadence Design Systems news, VP Paul Cunningham sold 2,000 shares of the firm’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $324.13, for a total value of $648,260.00. Following the sale, the vice president owned 119,612 shares of the company’s stock, valued at $38,769,837.56. This trade represents a 1.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $350.07, for a total transaction of $437,587.50. Following the completion of the sale, the director directly owned 39,544 shares in the company, valued at approximately $13,843,168.08. This trade represents a 3.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 8,960 shares of company stock worth $2,834,139 in the last quarter. Insiders own 0.49% of the company’s stock.
Institutional Investors Weigh In On Cadence Design Systems
Large investors have recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI boosted its stake in shares of Cadence Design Systems by 3.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 4,641 shares of the software maker’s stock valued at $1,532,000 after purchasing an additional 162 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of Cadence Design Systems by 0.5% during the 3rd quarter. Yousif Capital Management LLC now owns 26,272 shares of the software maker’s stock valued at $8,675,000 after purchasing an additional 121 shares in the last quarter. Andrew Hill Investment Advisors Inc. bought a new stake in shares of Cadence Design Systems during the 3rd quarter valued at about $2,639,000. Boomfish Wealth Group LLC boosted its stake in shares of Cadence Design Systems by 5.6% during the 3rd quarter. Boomfish Wealth Group LLC now owns 2,024 shares of the software maker’s stock valued at $668,000 after purchasing an additional 107 shares in the last quarter. Finally, MBL Wealth LLC bought a new stake in shares of Cadence Design Systems during the 3rd quarter valued at about $452,000. Institutional investors own 84.85% of the company’s stock.
About Cadence Design Systems
Cadence Design Systems, Inc develops computational software, hardware, and semiconductor intellectual property used to design and verify electronic systems and integrated circuits. Its electronic design automation (EDA) solutions support chip development across areas such as digital and custom IC design, functional verification, emulation, prototyping, and system analysis.
The company also provides semiconductor IP, including processor cores, interconnect technologies, memory interfaces, and other building blocks that help customers develop complex chips.
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