Cadence Design Systems (NASDAQ:CDNS) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Cadence Design Systems (NASDAQ:CDNS) from a buy rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

CDNS has been the subject of a number of other reports. Citigroup raised their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Morgan Stanley reissued an “overweight” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Benchmark restated a “buy” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Piper Sandler lifted their target price on Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Finally, Wells Fargo & Company boosted their price target on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $403.88.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS opened at $289.37 on Friday. The company has a market cap of $79.69 billion, a P/E ratio of 57.53, a PEG ratio of 3.10 and a beta of 1.14. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. Cadence Design Systems has a one year low of $262.75 and a one year high of $416.69. The business’s 50-day simple moving average is $332.84 and its 200 day simple moving average is $333.50.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping the consensus estimate of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company posted $1.65 EPS. Cadence Design Systems’s revenue for the quarter was up 24.2% on a year-over-year basis. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. On average, sell-side analysts forecast that Cadence Design Systems will post 6.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 2,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $323.32, for a total value of $646,640.00. Following the sale, the vice president owned 124,586 shares in the company, valued at approximately $40,281,145.52. This represents a 1.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $320.88, for a total transaction of $401,100.00. Following the transaction, the director directly owned 40,794 shares in the company, valued at $13,089,978.72. The trade was a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,530 shares of company stock valued at $1,924,660 in the last ninety days. Corporate insiders own 0.49% of the company’s stock.

Institutional Trading of Cadence Design Systems

Institutional investors and hedge funds have recently bought and sold shares of the company. George Kaiser Family Foundation acquired a new stake in Cadence Design Systems in the 2nd quarter valued at about $725,000. MUFG Securities EMEA plc increased its holdings in shares of Cadence Design Systems by 113.9% in the fourth quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock valued at $3,488,000 after purchasing an additional 5,943 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of Cadence Design Systems in the fourth quarter valued at approximately $1,105,000. PNC Financial Services Group Inc. raised its position in Cadence Design Systems by 1.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 369,717 shares of the software maker’s stock worth $115,566,000 after purchasing an additional 3,562 shares during the last quarter. Finally, Vega Investment Solutions bought a new position in Cadence Design Systems in the 2nd quarter worth approximately $1,957,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware and semiconductor intellectual property (IP). Its products help engineers design, verify and analyze integrated circuits, printed circuit boards and complete electronic systems.

The company offers solutions spanning digital and custom IC design, functional verification, digital and analog simulation, emulation and prototyping, system analysis, and 3D computational fluid dynamics.