Rosenblatt Securities Raises Cadence Design Systems (NASDAQ:CDNS) Price Target to $410.00

Cadence Design Systems (NASDAQ:CDNS) had its price target raised by Rosenblatt Securities from $375.00 to $410.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 8.49% from the stock’s current price.

CDNS has been the subject of a number of other research reports. Piper Sandler boosted their target price on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Wells Fargo & Company increased their target price on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Stifel Nicolaus increased their price objective on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Robert W. Baird boosted 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. Finally, Citigroup raised their target price on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $390.12.

Cadence Design Systems Price Performance

CDNS opened at $377.92 on Tuesday. The business has a fifty day moving average of $375.79 and a 200 day moving average of $327.44. The stock has a market cap of $104.24 billion, a P/E ratio of 88.09, a PEG ratio of 4.55 and a beta of 1.15. Cadence Design Systems has a 52-week low of $262.75 and a 52-week high of $416.69. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.05. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. Cadence Design Systems’s revenue was up 18.6% compared to the same quarter last year. During the same period last year, the firm earned $1.57 earnings per share. 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. As a group, sell-side analysts anticipate that Cadence Design Systems will post 6.23 EPS for the current year.

Insider Buying and Selling at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the completion of the sale, the director owned 8,004 shares in the company, valued at approximately $3,101,149.80. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $391.00, for a total value of $782,000.00. Following the completion of the sale, the vice president directly owned 126,586 shares in the company, valued at approximately $49,495,126. The trade was a 1.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 178,557 shares of company stock valued at $66,925,452 in the last three months. Insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Cadence Design Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Cadence Design Systems by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 27,231,070 shares of the software maker’s stock valued at $8,511,888,000 after acquiring an additional 307,753 shares during the period. State Street Corp boosted its holdings in shares of Cadence Design Systems by 1.1% in the 4th quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock valued at $3,939,561,000 after buying an additional 135,206 shares in the last quarter. Geode Capital Management LLC raised its stake in Cadence Design Systems by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 7,627,272 shares of the software maker’s stock valued at $2,378,707,000 after acquiring an additional 92,152 shares during the last quarter. Norges Bank purchased a new position in shares of Cadence Design Systems in the 4th quarter valued at about $1,352,922,000. Finally, Van ECK Associates Corp raised its holdings in shares of Cadence Design Systems by 11.9% in the fourth quarter. Van ECK Associates Corp now owns 3,534,180 shares of the software maker’s stock worth $1,104,714,000 after acquiring an additional 376,654 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

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.