Analysts’ Recent Ratings Changes for Cadence Design Systems (CDNS)

A number of firms have modified their ratings and price targets on shares of Cadence Design Systems (NASDAQ: CDNS) recently:

• 11/11/2024 – Cadence Design Systems is now covered by analysts at Loop Capital. They set a “buy” rating and a $360.00 price target on the stock.
• 10/29/2024 – Cadence Design Systems had its price target raised by analysts at Robert W. Baird from $332.00 to $340.00. They now have an “outperform” rating on the stock.
• 10/29/2024 – Cadence Design Systems had its “neutral” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $280.00 price target on the stock.
• 10/29/2024 – Cadence Design Systems had its price target lowered by analysts at Needham & Company LLC from $320.00 to $315.00. They now have a “buy” rating on the stock.
• 10/22/2024 – Cadence Design Systems is now covered by analysts at Mizuho. They set an “outperform” rating and a $325.00 price target on the stock.
• 10/15/2024 – Cadence Design Systems is now covered by analysts at Berenberg Bank. They set a “buy” rating and a $320.00 price target on the stock.
• 10/7/2024 – Cadence Design Systems had its “neutral” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $280.00 price target on the stock.
• 9/25/2024 – Cadence Design Systems is now covered by analysts at Oppenheimer Holdings Inc.. They set an “underperform” rating and a $225.00 price target on the stock.

Cadence Design Systems Price Performance

Shares of CDNS opened at $306.47 on Thursday. Cadence Design Systems, Inc. has a 12 month low of $241.29 and a 12 month high of $328.99. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. The stock has a fifty day moving average price of $271.56 and a 200 day moving average price of $282.41. The company has a market cap of $84.05 billion, a P/E ratio of 80.44, a PEG ratio of 3.64 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.20. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the firm posted $1.01 EPS. Cadence Design Systems’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, research analysts forecast that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

Insider Transactions at Cadence Design Systems

In related news, CFO John M. Wall sold 10,000 shares of Cadence Design Systems stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the sale, the chief financial officer now directly owns 38,654 shares in the company, valued at $10,278,485.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO John M. Wall sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the transaction, the chief financial officer now owns 38,654 shares in the company, valued at $10,278,485.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Karna Nisewaner sold 1,213 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $279.49, for a total value of $339,021.37. Following the completion of the sale, the senior vice president now owns 17,617 shares of the company’s stock, valued at $4,923,775.33. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,847 shares of company stock worth $4,556,656. Company insiders own 1.99% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Capital Market Strategies LLC raised its position in shares of Cadence Design Systems by 3.1% during the second quarter. Capital Market Strategies LLC now owns 1,300 shares of the software maker’s stock worth $400,000 after purchasing an additional 39 shares during the period. Dudley Capital Management LLC raised its holdings in Cadence Design Systems by 4.3% during the 3rd quarter. Dudley Capital Management LLC now owns 948 shares of the software maker’s stock worth $257,000 after buying an additional 39 shares during the period. Trust Point Inc. lifted its stake in Cadence Design Systems by 2.9% during the third quarter. Trust Point Inc. now owns 1,397 shares of the software maker’s stock valued at $379,000 after buying an additional 40 shares in the last quarter. Falcon Wealth Planning boosted its holdings in shares of Cadence Design Systems by 5.1% in the third quarter. Falcon Wealth Planning now owns 819 shares of the software maker’s stock worth $222,000 after buying an additional 40 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its position in shares of Cadence Design Systems by 0.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,539 shares of the software maker’s stock worth $1,501,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

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.