Rosenblatt Securities Issues Positive Forecast for Cadence Design Systems (NASDAQ:CDNS) Stock Price

Cadence Design Systems (NASDAQ:CDNS) had its target price hoisted by Rosenblatt Securities from $320.00 to $335.00 in a research note issued to investors on Tuesday,Benzinga reports. Rosenblatt Securities currently has a neutral rating on the software maker’s stock.

Other equities research analysts also recently issued reports about the stock. Piper Sandler reiterated a “neutral” rating and set a $355.00 price target (up from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Loop Capital lifted their price target on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of Cadence Design Systems from $330.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Wells Fargo & Company lifted their price target on shares of Cadence Design Systems from $365.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, Robert W. Baird raised their target price on shares of Cadence Design Systems from $340.00 to $380.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. Fourteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average target price of $376.00.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $341.30 on Tuesday. The company has a market cap of $93.00 billion, a PE ratio of 87.96, a price-to-earnings-growth ratio of 4.60 and a beta of 0.99. Cadence Design Systems has a 12 month low of $221.56 and a 12 month high of $376.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The company has a 50-day simple moving average of $346.78 and a 200-day simple moving average of $324.33.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.73%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.64 earnings per share. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. On average, equities analysts anticipate that Cadence Design Systems will post 5.41 earnings per share for the current year.

Insider Buying and Selling

In other Cadence Design Systems news, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the transaction, the chief financial officer directly owned 70,715 shares of the company’s stock, valued at $24,690,849.40. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the transaction, the director directly owned 7,830 shares in the company, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 10,680 shares of company stock valued at $3,729,852. Insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Cadence Design Systems by 1.0% during the second quarter. Vanguard Group Inc. now owns 26,595,861 shares of the software maker’s stock valued at $8,195,515,000 after buying an additional 256,719 shares in the last quarter. State Street Corp raised its holdings in shares of Cadence Design Systems by 1.4% during the 2nd quarter. State Street Corp now owns 12,318,585 shares of the software maker’s stock valued at $3,795,972,000 after buying an additional 172,551 shares during the period. Jennison Associates LLC raised its holdings 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 valued at $2,877,536,000 after buying an additional 273,149 shares during the period. Geode Capital Management LLC raised its holdings 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 valued at $1,952,771,000 after buying an additional 77,478 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Cadence Design Systems by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker’s stock valued at $1,202,733,000 after buying an additional 312,757 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

About Cadence Design Systems

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.