Analysts Set Cadence Design Systems, Inc. (NASDAQ:CDNS) Target Price at $379.11

Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) have been assigned a consensus rating of “Moderate Buy” from the nineteen brokerages that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $379.1053.

A number of brokerages have commented on CDNS. Needham & Company LLC restated a “buy” rating and set a $390.00 price objective on shares of Cadence Design Systems in a research note on Monday, December 22nd. Oppenheimer raised Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price target on the stock in a research report on Monday, December 1st. Wolfe Research reaffirmed an “outperform” rating and issued a $385.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Wall Street Zen lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Finally, BNP Paribas assumed coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price for the company.

Insider Activity at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 20,000 shares of Cadence Design Systems 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 sale, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at approximately $66,586,960. The trade was a 9.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total value of $60,746.40. Following the completion of the transaction, the director directly owned 7,650 shares of the company’s stock, valued at $2,581,722. This represents a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 61,025 shares of company stock valued at $20,054,246. 0.37% of the stock is currently owned by insiders.

Institutional Trading of Cadence Design Systems

Several institutional investors have recently added to or reduced their stakes in CDNS. Y.D. More Investments Ltd bought a new stake in shares of Cadence Design Systems in the 3rd quarter worth about $26,000. Saudi Central Bank bought a new stake in Cadence Design Systems in the first quarter valued at about $27,000. Caitlin John LLC acquired a new stake in Cadence Design Systems during the third quarter valued at approximately $29,000. Barrett & Company Inc. acquired a new stake in Cadence Design Systems during the second quarter valued at approximately $31,000. Finally, Imprint Wealth LLC acquired a new stake in Cadence Design Systems during the third quarter valued at approximately $31,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $315.60 on Wednesday. The stock has a fifty day moving average price of $322.57 and a 200 day moving average price of $332.30. Cadence Design Systems has a 52 week low of $221.56 and a 52 week high of $376.45. The firm has a market capitalization of $85.91 billion, a P/E ratio of 81.34, a PEG ratio of 4.09 and a beta of 1.05. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm posted $1.64 EPS. The business’s revenue for the quarter 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. Equities research analysts anticipate that Cadence Design Systems will post 5.41 earnings per share 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.