Cadence Design Systems, Inc. (NASDAQ:CDNS) Receives $380.59 Consensus Target Price from Brokerages

Cadence Design Systems, Inc. (NASDAQ:CDNS) has been given an average rating of “Moderate Buy” by the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $384.4118.

Several research analysts recently weighed in on CDNS shares. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Piper Sandler lifted their price target on Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Morgan Stanley reduced their price target on Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a report on Wednesday. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $360.00 price objective on shares of Cadence Design Systems in a report on Friday, April 24th.

Cadence Design Systems Stock Down 2.0%

Shares of CDNS stock opened at $374.05 on Friday. The stock has a 50 day moving average of $317.92 and a 200 day moving average of $312.02. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The stock has a market cap of $103.17 billion, a P/E ratio of 87.19, a P/E/G ratio of 4.52 and a beta of 1.13. Cadence Design Systems has a twelve month low of $262.75 and a twelve month high of $383.80.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.05. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.Cadence Design Systems’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the business earned $1.57 earnings per share. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. As a group, sell-side analysts expect that Cadence Design Systems will post 6.23 EPS for the current year.

Insider Buying and Selling

In other Cadence Design Systems news, CEO Anirudh Devgan sold 51,887 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $370.00, for a total value of $19,198,190.00. Following the sale, the chief executive officer directly owned 303,525 shares of the company’s stock, valued at approximately $112,304,250. This trade represents a 14.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 1,071 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $345.06, for a total value of $369,559.26. Following the completion of the sale, the vice president directly owned 32,181 shares in the company, valued at approximately $11,104,375.86. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 93,138 shares of company stock valued at $32,492,540 in the last 90 days. Corporate insiders own 0.49% of the company’s stock.

Institutional Trading of Cadence Design Systems

Several institutional investors have recently bought and sold shares of CDNS. Norges Bank acquired a new stake in Cadence Design Systems in the fourth quarter valued at approximately $1,352,922,000. J. Stern & Co. LLP grew its holdings in Cadence Design Systems by 10,159.3% in the fourth quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock valued at $923,129,000 after purchasing an additional 2,924,470 shares during the period. Wellington Management Group LLP boosted 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 acquiring an additional 1,751,927 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Cadence Design Systems by 232.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,430,599 shares of the software maker’s stock worth $397,521,000 after acquiring an additional 999,862 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Cadence Design Systems by 120.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker’s stock worth $351,470,000 after acquiring an additional 615,440 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

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.