Cadence Design Systems (NASDAQ:CDNS) Rating Lowered to Hold at Wall Street Zen

Cadence Design Systems (NASDAQ:CDNS) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday, Wall Street Zen reports.

CDNS has been the topic of a number of other reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $400.00 target price on shares of Cadence Design Systems in a research report on Wednesday, July 29th. FBN Securities initiated coverage on shares of Cadence Design Systems in a research report on Friday, September 11th. They set an “outperform” rating and a $375.00 price target for the company. Oppenheimer restated a “market perform” rating and issued a $300.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. Finally, Rosenblatt Securities increased their price objective on shares of Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and an average target price of $404.12.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $353.48 on Friday. The firm has a 50-day moving average of $318.23 and a two-hundred day moving average of $335.58. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. The stock has a market cap of $97.34 billion, a P/E ratio of 70.27, a PEG ratio of 3.77 and a beta of 1.13. 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 announced its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.06. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.65 earnings per share. 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, research analysts expect that Cadence Design Systems will post 6.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $350.07, for a total transaction of $437,587.50. Following the completion of the transaction, the director directly owned 39,544 shares of the company’s stock, valued at approximately $13,843,168.08. This represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 280 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total value of $94,920.00. Following the sale, the vice president owned 31,720 shares in the company, valued at $10,753,080. The trade was a 0.88% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 6,960 shares of company stock valued at $2,185,879. 0.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CDNS. George Kaiser Family Foundation bought a new stake in shares of Cadence Design Systems in the 2nd quarter worth approximately $725,000. Vega Investment Solutions acquired a new position in Cadence Design Systems in the second quarter worth approximately $1,957,000. Osmosis Investment Management UK Ltd acquired a new position in Cadence Design Systems in the second quarter worth approximately $5,238,000. Persistent Asset Partners Ltd bought a new position in shares of Cadence Design Systems in the second quarter valued at $4,170,000. Finally, Lombard Odier Asset Management Europe Ltd increased its holdings in shares of Cadence Design Systems by 30.9% in the first quarter. Lombard Odier Asset Management Europe Ltd now owns 52,941 shares of the software maker’s stock valued at $14,711,000 after buying an additional 12,495 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

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. Its products help engineers design, verify, analyze, and manufacture complex semiconductor chips, printed circuit boards, and electronic systems.

The company’s offerings include digital and custom/analog integrated-circuit design tools, functional verification and emulation platforms, semiconductor intellectual property, and system analysis solutions.