Cadence Design Systems (NASDAQ:CDNS) Raised to “Buy” at Wall Street Zen

Cadence Design Systems (NASDAQ:CDNS) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other research analysts have also issued reports about the company. Rosenblatt Securities reiterated a “neutral” rating and set a $300.00 price objective on shares of Cadence Design Systems in a research note on Friday, July 25th. KeyCorp increased their price objective on Cadence Design Systems from $358.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a research note on Wednesday, July 30th. Stifel Nicolaus increased their price objective 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. Finally, Mizuho increased their price objective 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. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus target price of $364.33.

Cadence Design Systems Stock Down 3.2%

Shares of CDNS stock opened at $343.48 on Friday. Cadence Design Systems has a 12 month low of $221.56 and a 12 month high of $376.45. The firm has a market cap of $93.59 billion, a PE ratio of 92.83, a price-to-earnings-growth ratio of 4.50 and a beta of 1.00. The stock has a 50 day moving average of $342.75 and a 200-day moving average of $303.02. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.09. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company 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. On average, equities analysts predict that Cadence Design Systems will post 5.41 EPS for the current year.

Insider Buying and Selling at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the sale, the director owned 7,830 shares in the company, valued at approximately $2,619,213.30. This represents a 2.25% 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 link. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total value of $343,950.00. Following the sale, the vice president owned 102,499 shares in the company, valued at $35,254,531.05. The trade was a 0.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,180 shares of company stock worth $1,069,232 in the last 90 days. Company insiders own 1.99% of the company’s stock.

Hedge Funds Weigh In On Cadence Design Systems

Several hedge funds have recently added to or reduced their stakes in the company. Tiemann Investment Advisors LLC raised its holdings in Cadence Design Systems by 2.9% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 1,050 shares of the software maker’s stock valued at $324,000 after acquiring an additional 30 shares during the last quarter. Petros Family Wealth LLC raised its holdings in Cadence Design Systems by 2.6% in the 2nd quarter. Petros Family Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $394,000 after acquiring an additional 32 shares during the last quarter. Hemington Wealth Management raised its holdings in Cadence Design Systems by 14.0% in the 2nd quarter. Hemington Wealth Management now owns 261 shares of the software maker’s stock valued at $80,000 after acquiring an additional 32 shares during the last quarter. Legacy Capital Wealth Partners LLC raised its holdings in Cadence Design Systems by 2.8% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker’s stock valued at $309,000 after acquiring an additional 33 shares during the last quarter. Finally, Empower Advisory Group LLC raised its holdings in Cadence Design Systems by 4.1% in the 1st quarter. Empower Advisory Group LLC now owns 911 shares of the software maker’s stock valued at $232,000 after acquiring an additional 36 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Company Profile

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.