Cadence Design Systems (NASDAQ:CDNS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cadence Design Systems (NASDAQ:CDNS) from a hold rating to a buy rating in a research note issued to investors on Monday,Wall Street Zen reports.

A number of other research analysts have also recently issued reports on the stock. Benchmark reiterated a “buy” rating on shares of Cadence Design Systems in a report on Tuesday, July 28th. FBN Securities initiated coverage on shares of Cadence Design Systems in a research report on Friday, September 11th. They issued an “outperform” rating and a $375.00 price target on the stock. Piper Sandler lifted their price target on Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Weiss Ratings lowered Cadence Design Systems from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, September 25th. Finally, Bank of America boosted their price objective on Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus target price of $404.14.

Cadence Design Systems Price Performance

Shares of CDNS opened at $329.46 on Monday. The business’s fifty day moving average is $319.53 and its 200 day moving average is $338.60. Cadence Design Systems has a 12-month low of $262.75 and a 12-month high of $416.69. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. The stock has a market cap of $90.73 billion, a P/E ratio of 54.25, a P/E/G ratio of 3.58 and a beta of 1.13.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the business posted $1.65 EPS. Cadence Design Systems’s quarterly revenue 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. Sell-side analysts anticipate that Cadence Design Systems will post 6.41 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Paul Scannell sold 280 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $339.00, for a total value of $94,920.00. Following the completion of the sale, the vice president owned 31,720 shares in the company, valued at $10,753,080. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 Thursday, October 1st. The shares were sold at an average price of $350.07, for a total transaction of $437,587.50. Following the completion of the sale, the director owned 39,544 shares of the company’s stock, valued at approximately $13,843,168.08. This represents a 3.06% 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 6,960 shares of company stock valued at $2,185,879 over the last quarter. 0.49% of the stock is owned by insiders.

Institutional Investors Weigh In On Cadence Design Systems

A number of institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in Cadence Design Systems by 21.8% during the second quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker’s stock worth $1,835,227,000 after acquiring an additional 874,392 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Cadence Design Systems by 1.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,385,655 shares of the software maker’s stock worth $1,270,704,000 after purchasing an additional 48,937 shares during the last quarter. J. Stern & Co. LLP boosted its position in Cadence Design Systems by 10,159.3% in the fourth quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after purchasing an additional 2,924,470 shares during the last quarter. Legal & General Group Plc purchased a new position in Cadence Design Systems in the second quarter worth $702,615,000. Finally, Jupiter Topco LLC bought a new position in Cadence Design Systems in the 2nd quarter valued at $688,746,000. 84.85% of the stock is 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.