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 report issued on Saturday morning.

A number of other brokerages also recently commented on CDNS. KeyCorp reissued an “overweight” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Stifel Nicolaus boosted their price objective on shares of Cadence Design Systems from $395.00 to $432.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Piper Sandler upped their target price on Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Morgan Stanley reiterated an “overweight” rating and set a $400.00 price target on shares of Cadence Design Systems in a research note on Wednesday, July 29th. Finally, Benchmark reaffirmed a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $405.69.

Cadence Design Systems Stock Down 1.1%

Shares of NASDAQ CDNS opened at $336.15 on Friday. The stock has a market cap of $92.57 billion, a P/E ratio of 66.83, a PEG ratio of 3.65 and a beta of 1.15. The business’s fifty day simple moving average is $371.62 and its 200-day simple moving average is $330.14. Cadence Design Systems has a 12-month low of $262.75 and a 12-month high of $416.69. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36.

Cadence Design Systems (NASDAQ:CDNS) last released its 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 during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the firm 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. As a group, equities analysts predict that Cadence Design Systems will post 6.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Scannell sold 7,081 shares of Cadence Design Systems 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 sale, the vice president owned 32,181 shares of the company’s stock, valued at approximately $12,676,417.71. The trade was a 18.04% decrease in their position. The sale 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, Director Ita M. Brennan sold 180 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $387.45, for a total value of $69,741.00. Following the transaction, the director owned 8,004 shares in the company, valued at $3,101,149.80. The trade was a 2.20% 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. Over the last quarter, insiders have sold 140,557 shares of company stock valued at $54,631,737. Corporate insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cadence Design Systems during the 4th quarter worth $28,000. Arlington Trust Co LLC increased its holdings in shares of Cadence Design Systems by 154.3% in the 2nd quarter. Arlington Trust Co LLC now owns 89 shares of the software maker’s stock valued at $33,000 after purchasing an additional 54 shares in the last quarter. Imprint Wealth LLC acquired a new stake in shares of Cadence Design Systems in the third quarter valued at about $31,000. Whipplewood Advisors LLC boosted its holdings in Cadence Design Systems by 933.3% during the first quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after buying an additional 84 shares in the last quarter. Finally, Swiss RE Ltd. acquired a new position in Cadence Design Systems during the fourth quarter worth about $29,000. Institutional investors and hedge funds 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.