Cadence Design Systems (NASDAQ:CDNS) Now Covered by Analysts at BNP Paribas Exane

BNP Paribas Exane began coverage on shares of Cadence Design Systems (NASDAQ:CDNS) in a research note issued to investors on Thursday, MarketBeat.com reports. The firm issued an outperform rating and a $400.00 target price on the software maker’s stock.

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC raised their price objective on shares of Cadence Design Systems from $325.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. boosted their price target on Cadence Design Systems from $330.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. BNP Paribas began coverage on Cadence Design Systems in a report on Thursday. They issued an “outperform” rating and a $400.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of Cadence Design Systems in a research note on Thursday, July 10th. They set a “buy” rating and a $380.00 target price on the stock. Finally, Wells Fargo & Company increased their target price on shares of Cadence Design Systems from $365.00 to $405.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus target price of $368.53.

Cadence Design Systems Stock Performance

CDNS opened at $347.27 on Thursday. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. Cadence Design Systems has a 12-month low of $221.56 and a 12-month high of $376.45. The firm has a 50 day moving average of $353.04 and a two-hundred day moving average of $314.12. The firm has a market capitalization of $94.63 billion, a PE ratio of 93.86, a P/E/G ratio of 4.55 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.09. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business 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, analysts anticipate that Cadence Design Systems will post 5.41 EPS for the current year.

Insider Buying and Selling

In related news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the sale, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the transaction, the chief financial officer owned 70,715 shares of the company’s stock, valued at $24,690,849.40. This represents a 9.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,680 shares of company stock worth $3,729,852. Company insiders own 1.99% of the company’s stock.

Institutional Trading of Cadence Design Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of CDNS. Norges Bank acquired a new position in shares of Cadence Design Systems during the 2nd quarter worth about $1,190,618,000. Nuveen LLC purchased a new stake in Cadence Design Systems during the first quarter worth approximately $289,744,000. Jennison Associates LLC boosted its holdings in Cadence Design Systems by 13.2% in the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker’s stock valued at $2,305,489,000 after purchasing an additional 1,054,702 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Cadence Design Systems by 466.4% in the second quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock valued at $242,468,000 after purchasing an additional 647,931 shares in the last quarter. Finally, Scge Management L.P. purchased a new position in Cadence Design Systems in the second quarter valued at approximately $187,663,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

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.