Cadence Design Systems, Inc. (NASDAQ:CDNS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) have received a consensus rating of “Moderate Buy” from the nineteen brokerages that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $379.1053.

A number of research firms have weighed in on CDNS. Rosenblatt Securities raised their price target on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Citigroup began coverage on shares of Cadence Design Systems in a research note on Monday, November 24th. They issued a “buy” rating and a $385.00 price target for the company. BNP Paribas initiated coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective on the stock. KeyCorp reiterated an “overweight” rating and issued a $405.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Finally, Wells Fargo & Company boosted their price target on Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CEO Anirudh Devgan sold 20,000 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $340.00, for a total value of $6,800,000.00. Following the transaction, the chief executive officer directly owned 195,844 shares in the company, valued at $66,586,960. The trade was a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $312.64, for a total transaction of $312,640.00. Following the sale, the vice president owned 97,067 shares of the company’s stock, valued at approximately $30,347,026.88. This represents a 1.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 69,525 shares of company stock worth $23,021,216 in the last three months. 0.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. increased its position in shares of Cadence Design Systems by 83.3% during the third quarter. Pacer Advisors Inc. now owns 182,348 shares of the software maker’s stock valued at $64,052,000 after acquiring an additional 82,856 shares during the last quarter. Westerkirk Capital Inc. bought a new position in Cadence Design Systems in the 2nd quarter valued at $2,024,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cadence Design Systems by 10.9% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker’s stock valued at $44,064,000 after purchasing an additional 14,022 shares during the last quarter. Patton Fund Management Inc. raised its stake in shares of Cadence Design Systems by 1,743.7% during the 3rd quarter. Patton Fund Management Inc. now owns 13,994 shares of the software maker’s stock worth $4,916,000 after purchasing an additional 13,235 shares during the period. Finally, EFG Asset Management North America Corp. purchased a new position in shares of Cadence Design Systems in the 2nd quarter worth about $4,073,000. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Price Performance

NASDAQ CDNS opened at $318.89 on Wednesday. The firm’s 50 day moving average is $323.16 and its 200-day moving average is $332.12. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $86.80 billion, a PE ratio of 82.19, a price-to-earnings-growth ratio of 4.10 and a beta of 1.05. Cadence Design Systems has a 12-month low of $221.56 and a 12-month high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm earned $1.64 earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. 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 research analysts anticipate that Cadence Design Systems will post 5.41 earnings per share for the current fiscal year.

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.