Needham & Company LLC Issues Positive Forecast for Cadence Design Systems (NASDAQ:CDNS) Stock Price

Cadence Design Systems (NASDAQ:CDNS) had its price objective lifted by Needham & Company LLC from $390.00 to $400.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

CDNS has been the topic of several other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a report on Monday, December 29th. Rosenblatt Securities reiterated a “buy” rating and set a $360.00 price objective on shares of Cadence Design Systems in a report on Thursday, February 26th. Piper Sandler decreased their target price on shares of Cadence Design Systems from $355.00 to $319.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Stifel Nicolaus set a $395.00 target price on shares of Cadence Design Systems in a report on Wednesday, February 18th. Finally, Wells Fargo & Company cut their price target on Cadence Design Systems from $410.00 to $375.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $377.06.

Cadence Design Systems Trading Up 2.4%

Shares of Cadence Design Systems stock opened at $318.55 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.67 and a current ratio of 2.86. Cadence Design Systems has a 52 week low of $247.70 and a 52 week high of $376.45. The stock has a 50 day moving average price of $291.36 and a two-hundred day moving average price of $309.78. The stock has a market capitalization of $87.95 billion, a PE ratio of 78.46, a price-to-earnings-growth ratio of 3.74 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Tuesday, February 17th. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.08. Cadence Design Systems had a return on equity of 29.34% and a net margin of 20.93%.The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm earned $1.88 earnings per share. Cadence Design Systems’s revenue for the quarter was up 6.2% on a year-over-year basis. Cadence Design Systems has set its Q1 2026 guidance at 1.890-1.950 EPS and its FY 2026 guidance at 8.050-8.150 EPS. As a group, equities analysts anticipate that Cadence Design Systems will post 6.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $297.78, for a total value of $297,780.00. Following the transaction, the vice president directly owned 94,137 shares of the company’s stock, valued at approximately $28,032,115.86. The trade was a 1.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $295.03, for a total transaction of $53,105.40. Following the sale, the director owned 7,470 shares of the company’s stock, valued at $2,203,874.10. This trade represents a 2.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 24,685 shares of company stock valued at $7,580,903. Insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Cadence Design Systems

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Cadence Design Systems during the 4th quarter valued at $1,352,922,000. J. Stern & Co. LLP boosted its position in Cadence Design Systems by 10,159.3% during the fourth quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after purchasing an additional 2,924,470 shares during the period. Wellington Management Group LLP increased its stake in shares of Cadence Design Systems by 218.6% in the fourth quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock worth $798,087,000 after purchasing an additional 1,751,927 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Cadence Design Systems by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock valued at $1,866,739,000 after purchasing an additional 731,788 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Cadence Design Systems by 120.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker’s stock valued at $351,470,000 after buying an additional 615,440 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

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.