Brokerages Set Cadence Design Systems, Inc. (NASDAQ:CDNS) Price Target at $386.59

Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) have earned an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $386.5882.

CDNS has been the subject of several recent research reports. Rosenblatt Securities reissued a “buy” rating and issued a $360.00 price target on shares of Cadence Design Systems in a research note on Friday, April 24th. Stifel Nicolaus upped their target price on Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Citigroup upped their target price on Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Finally, Robert W. Baird upped their target price on Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th.

Insider Activity

In other news, VP Paul Scannell sold 7,081 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $393.91, for a total value of $2,789,276.71. Following the completion of the sale, the vice president directly owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. This represents a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $415.00, for a total value of $10,377,075.00. Following the completion of the sale, the chief executive officer directly owned 253,519 shares of the company’s stock, valued at $105,210,385. This represents a 8.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 179,557 shares of company stock valued at $67,205,642. Insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Y.D. More Investments Ltd acquired a new position in shares of Cadence Design Systems in the third quarter valued at $26,000. Caitlin John LLC acquired a new position in shares of Cadence Design Systems in the third quarter valued at $29,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Cadence Design Systems in the fourth quarter valued at $28,000. Imprint Wealth LLC acquired a new position in shares of Cadence Design Systems in the third quarter valued at $31,000. Finally, Whipplewood Advisors LLC raised its stake in shares of Cadence Design Systems by 933.3% in the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Price Performance

NASDAQ CDNS opened at $379.06 on Wednesday. The stock’s 50-day moving average price is $359.57 and its two-hundred day moving average price is $322.52. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The company has a market cap of $104.55 billion, a PE ratio of 88.36, a PEG ratio of 4.60 and a beta of 1.15. Cadence Design Systems has a 1 year low of $262.75 and a 1 year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The firm’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.57 EPS. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. On average, analysts predict that Cadence Design Systems will post 6.23 EPS for the current year.

Cadence Design Systems Company Profile

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.