Cadence Design Systems (NASDAQ:CDNS) Stock Lifted to Buy by 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 published on Saturday morning,Wall Street Zen reports.

Several other analysts have also commented on the stock. Oppenheimer reiterated a “market perform” rating and issued a $300.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Citigroup upped their target price on Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Stifel Nicolaus increased their target price on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Weiss Ratings raised Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Finally, Morgan Stanley reissued an “overweight” rating and set a $400.00 price target on shares of Cadence Design Systems in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $403.88.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $326.13 on Friday. 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 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $317.64 and its 200 day simple moving average is $333.32. The firm has a market capitalization of $89.81 billion, a PE ratio of 64.84, a P/E/G ratio of 3.50 and a beta of 1.14.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The firm’s revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.65 EPS. 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, equities research analysts predict that Cadence Design Systems will post 6.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 2,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $323.32, for a total transaction of $646,640.00. Following the sale, the vice president owned 124,586 shares in the company, valued at $40,281,145.52. This trade represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 280 shares of the company’s stock in a transaction on 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 transaction, the vice president owned 31,720 shares of the company’s stock, valued at $10,753,080. The trade was a 0.88% 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. In the last quarter, insiders sold 5,710 shares of company stock worth $1,748,292. 0.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp grew its holdings in Cadence Design Systems by 1.1% in the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock valued at $3,939,561,000 after purchasing an additional 135,206 shares during the period. Van ECK Associates Corp increased its position 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 purchasing an additional 874,392 shares during the last quarter. Norges Bank purchased a new position in Cadence Design Systems during the fourth quarter worth approximately $1,352,922,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Cadence Design Systems by 1.5% during 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 period. Finally, J. Stern & Co. LLP boosted its holdings in shares of Cadence Design Systems by 10,159.3% in the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock valued at $923,129,000 after purchasing an additional 2,924,470 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

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 (IP). Its products help engineers design, verify and analyze integrated circuits, printed circuit boards and complete electronic systems.

The company offers solutions spanning digital and custom IC design, functional verification, digital and analog simulation, emulation and prototyping, system analysis, and 3D computational fluid dynamics.