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

Cadence Design Systems, Inc. (NASDAQ:CDNS) has received an average recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $380.7222.

Several research firms have recently weighed in on CDNS. BNP Paribas started 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. Rosenblatt Securities lifted their price objective on shares of Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Needham & Company LLC restated a “buy” rating and set a $390.00 target price on shares of Cadence Design Systems in a research report on Monday, December 22nd. Citigroup began coverage on Cadence Design Systems in a research report on Monday, November 24th. They issued a “buy” rating and a $385.00 price target for the company. Finally, Wall Street Zen lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st.

Cadence Design Systems Stock Down 1.0%

Cadence Design Systems stock opened at $317.45 on Friday. Cadence Design Systems has a 12 month low of $221.56 and a 12 month high of $376.45. The stock has a fifty day simple moving average of $317.57 and a two-hundred day simple moving average of $333.58. 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 cap of $86.41 billion, a price-to-earnings ratio of 81.82, a PEG ratio of 3.54 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last issued 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. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the company posted $1.64 EPS. 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 analysts predict that Cadence Design Systems will post 5.41 EPS for the current fiscal year.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $312.64, for a total value of $312,640.00. Following the sale, the vice president owned 97,067 shares of the company’s stock, valued at $30,347,026.88. This trade represents a 1.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anirudh Devgan sold 20,000 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were 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 owned 195,844 shares in the company, valued at $66,586,960. The trade was a 9.27% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 62,025 shares of company stock valued at $20,369,946. 1.99% of the stock is currently owned by insiders.

Institutional Trading of Cadence Design Systems

Large investors have recently bought and sold shares of the company. Tiemann Investment Advisors LLC boosted its position in shares of Cadence Design Systems by 2.9% during the second quarter. Tiemann Investment Advisors LLC now owns 1,050 shares of the software maker’s stock valued at $324,000 after purchasing an additional 30 shares in the last quarter. Occidental Asset Management LLC lifted its position in Cadence Design Systems by 2.3% during the third quarter. Occidental Asset Management LLC now owns 1,321 shares of the software maker’s stock valued at $464,000 after buying an additional 30 shares during the period. Whittier Trust Co. boosted its holdings in shares of Cadence Design Systems by 0.4% during the 3rd quarter. Whittier Trust Co. now owns 7,072 shares of the software maker’s stock valued at $2,456,000 after buying an additional 30 shares in the last quarter. Petros Family Wealth LLC grew its position in shares of Cadence Design Systems by 2.6% in the 2nd quarter. Petros Family Wealth LLC now owns 1,277 shares of the software maker’s stock worth $394,000 after buying an additional 32 shares during the period. Finally, Hemington Wealth Management increased its stake in shares of Cadence Design Systems by 14.0% in the 2nd quarter. Hemington Wealth Management now owns 261 shares of the software maker’s stock worth $80,000 after acquiring an additional 32 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

About Cadence Design Systems

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.