Cadence Design Systems, Inc. (NASDAQ:CDNS) Given Consensus Rating of “Moderate Buy” by Analysts

Cadence Design Systems, Inc. (NASDAQ:CDNS) has earned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $379.1053.

CDNS has been the subject of a number of research analyst reports. Wolfe Research reissued an “outperform” rating and issued a $385.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Needham & Company LLC reiterated a “buy” rating and issued a $390.00 price objective on shares of Cadence Design Systems in a research report on Monday. Wells Fargo & Company raised their target price on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. BNP Paribas initiated coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target for the company. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cadence Design Systems in a research report on Monday, December 15th.

Insider Activity

In related news, CEO Anirudh Devgan sold 20,000 shares of the stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the completion of the transaction, the chief executive officer directly owned 195,844 shares in the company, valued at approximately $66,586,960. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul Scannell sold 5,490 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $339.43, for a total value of $1,863,470.70. Following the completion of the sale, the vice president directly owned 20,321 shares in the company, valued at approximately $6,897,557.03. This represents a 21.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 69,525 shares of company stock worth $23,021,216. 0.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cadence Design Systems

Several hedge funds have recently made changes to their positions in CDNS. Vanguard Group Inc. boosted its holdings in Cadence Design Systems by 1.2% during the third quarter. Vanguard Group Inc. now owns 26,923,317 shares of the software maker’s stock worth $9,457,084,000 after purchasing an additional 327,456 shares during the last quarter. State Street Corp lifted its position in Cadence Design Systems by 1.2% during the 3rd quarter. State Street Corp now owns 12,468,162 shares of the software maker’s stock worth $4,379,567,000 after buying an additional 149,577 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Cadence Design Systems by 3.0% during the 2nd quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock worth $2,877,536,000 after buying an additional 273,149 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cadence Design Systems by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker’s stock worth $1,952,771,000 after buying an additional 77,478 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Cadence Design Systems by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock valued at $1,866,739,000 after acquiring an additional 731,788 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $316.93 on Wednesday. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $86.27 billion, a P/E ratio of 81.68, a PEG ratio of 4.08 and a beta of 1.05. The business has a 50-day moving average of $323.57 and a 200-day moving average of $331.85. Cadence Design Systems has a 1 year low of $221.56 and a 1 year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.14. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the business earned $1.64 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 EPS. On average, equities analysts anticipate that Cadence Design Systems will post 5.41 EPS for the current year.

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.