Cadence Design Systems (NASDAQ:CDNS) Now Covered by BNP Paribas Exane

BNP Paribas Exane started coverage on shares of Cadence Design Systems (NASDAQ:CDNS) in a research report released on Thursday, Marketbeat.com reports. The firm issued an outperform rating and a $400.00 price objective on the software maker’s stock.

Several other brokerages have also recently commented on CDNS. Rosenblatt Securities reaffirmed a “neutral” rating and set a $300.00 price objective on shares of Cadence Design Systems in a research note on Friday, July 25th. Mizuho boosted their price objective on shares of Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Robert W. Baird boosted their price objective on shares of Cadence Design Systems from $340.00 to $380.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. JPMorgan Chase & Co. boosted their price objective on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, The Goldman Sachs Group initiated coverage on shares of Cadence Design Systems in a research report on Thursday, July 10th. They set a “buy” rating and a $380.00 target price for the company. Fourteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $368.53.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $347.24 on Thursday. Cadence Design Systems has a 52-week low of $221.56 and a 52-week high of $376.45. The company has a 50-day simple moving average of $352.74 and a 200 day simple moving average of $313.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82. The company has a market capitalization of $94.62 billion, a PE ratio of 93.85, a price-to-earnings-growth ratio of 4.62 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.09. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 earnings per share. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. On average, research analysts predict that Cadence Design Systems will post 5.41 EPS for the current year.

Insider Transactions at Cadence Design Systems

In other news, CFO John M. Wall sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the sale, the chief financial officer directly owned 70,715 shares in the company, valued at approximately $24,690,849.40. The trade was a 9.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total transaction of $348,270.00. Following the completion of the sale, the vice president owned 99,672 shares of the company’s stock, valued at approximately $34,712,767.44. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,680 shares of company stock worth $3,729,852. 1.99% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cadence Design Systems

Hedge funds have recently made changes to their positions in the business. Smallwood Wealth Investment Management LLC bought a new stake in shares of Cadence Design Systems in the 1st quarter worth approximately $25,000. Costello Asset Management INC bought a new stake in Cadence Design Systems during the 1st quarter valued at $25,000. Barrett & Company Inc. bought a new stake in Cadence Design Systems during the 2nd quarter valued at $31,000. Strategic Wealth Investment Group LLC bought a new stake in Cadence Design Systems during the 2nd quarter valued at $32,000. Finally, Saudi Central Bank bought a new stake in Cadence Design Systems during the 1st quarter valued at $27,000. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Company Profile

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.