Cadence Design Systems (NASDAQ:CDNS) Coverage Initiated at BNP Paribas

Equities researchers at BNP Paribas started coverage on shares of Cadence Design Systems (NASDAQ:CDNS) in a report released on Thursday, Marketbeat Ratings reports. The firm set an “outperform” rating on the software maker’s stock.

CDNS has been the topic of several other research reports. Piper Sandler reiterated a “neutral” rating and issued a $355.00 price objective (up previously from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Stifel Nicolaus increased their target price on Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Rosenblatt Securities reiterated a “neutral” rating and set a $300.00 target price on shares of Cadence Design Systems in a report on Friday, July 25th. Mizuho increased their price target on Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. Finally, KeyCorp increased their target price on Cadence Design Systems from $358.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $368.53.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $347.27 on Thursday. The company has a market cap of $94.63 billion, a PE ratio of 93.86, a price-to-earnings-growth ratio of 4.55 and a beta of 0.99. The stock’s 50 day simple moving average is $353.04 and its 200-day simple moving average is $313.74. Cadence Design Systems has a 1-year low of $221.56 and a 1-year 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.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The business’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 earnings per share. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. As a group, equities research analysts anticipate that Cadence Design Systems will post 5.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total transaction of $348,270.00. Following the sale, the vice president owned 99,672 shares of the company’s stock, valued at $34,712,767.44. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the transaction, the director directly owned 7,830 shares in the company, valued at $2,619,213.30. This represents a 2.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,680 shares of company stock valued at $3,729,852 over the last quarter. Corporate insiders own 1.99% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CDNS. Vanguard Group Inc. grew its position in Cadence Design Systems by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 26,595,861 shares of the software maker’s stock worth $8,195,515,000 after purchasing an additional 256,719 shares in the last quarter. State Street Corp grew its position in 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 worth $3,795,972,000 after purchasing an additional 172,551 shares in the last quarter. Jennison Associates LLC grew its position in 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 worth $2,877,536,000 after purchasing an additional 273,149 shares in the last quarter. Geode Capital Management LLC grew its position in 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 worth $1,952,771,000 after purchasing an additional 77,478 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in 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 worth $1,202,733,000 after purchasing an additional 312,757 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

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.