Brokerages Set Cadence Design Systems, Inc. (NASDAQ:CDNS) Target Price at $377.06

Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $380.5882.

Several research analysts have recently weighed in on the stock. Morgan Stanley decreased their price target on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. KeyCorp upped their price target on shares of Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, April 28th. Robert W. Baird upped their price target on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Finally, Citigroup upped their target price on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday.

Cadence Design Systems Trading Up 3.4%

Cadence Design Systems stock opened at $340.94 on Tuesday. The stock has a market cap of $94.13 billion, a P/E ratio of 79.47, a PEG ratio of 4.04 and a beta of 1.13. Cadence Design Systems has a fifty-two week low of $262.75 and a fifty-two week high of $376.45. The firm’s fifty day moving average price is $296.48 and its 200-day moving average price is $309.17. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.67 and a current ratio of 1.47.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.05. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $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. Equities research analysts forecast that Cadence Design Systems will post 6.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $295.03, for a total value of $53,105.40. Following the completion of the transaction, the director directly owned 7,470 shares in the company, valued at approximately $2,203,874.10. The trade was a 2.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John M. Wall sold 21,500 shares of the company’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $309.45, for a total transaction of $6,653,175.00. Following the completion of the transaction, the chief financial officer owned 86,875 shares of the company’s stock, valued at $26,883,468.75. This trade represents a 19.84% 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. Over the last ninety days, insiders sold 24,680 shares of company stock worth $7,579,340. Corporate insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDNS. Peterson Wealth Services boosted its position in Cadence Design Systems by 1,501.3% during the third quarter. Peterson Wealth Services now owns 187,115 shares of the software maker’s stock valued at $65,726,000 after buying an additional 175,430 shares during the period. Stanley Laman Group Ltd. purchased a new stake in Cadence Design Systems during the third quarter valued at about $6,177,000. Thrivent Financial for Lutherans boosted its position in Cadence Design Systems by 301.9% during the third quarter. Thrivent Financial for Lutherans now owns 49,999 shares of the software maker’s stock valued at $17,563,000 after buying an additional 37,558 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Cadence Design Systems by 62.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 571,278 shares of the software maker’s stock worth $200,667,000 after purchasing an additional 220,464 shares during the period. Finally, DDD Partners LLC boosted its holdings in shares of Cadence Design Systems by 27.4% during the fourth quarter. DDD Partners LLC now owns 41,968 shares of the software maker’s stock worth $13,118,000 after purchasing an additional 9,024 shares during the period. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Company Profile

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.