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

Wall Street Zen lowered shares of Cadence Design Systems (NASDAQ:CDNS) from a buy rating to a hold rating in a research report released on Sunday morning,Wall Street Zen reports.

Several other analysts have also recently commented on the company. FBN Securities initiated coverage on Cadence Design Systems in a research report on Friday, September 11th. They issued an “outperform” rating and a $375.00 target price for the company. KeyCorp reissued an “overweight” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Weiss Ratings lowered shares of Cadence Design Systems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, September 25th. Piper Sandler raised their target price on Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Finally, 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 report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $404.12.

Cadence Design Systems Price Performance

NASDAQ CDNS opened at $359.55 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 current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. The stock has a market cap of $99.02 billion, a price-to-earnings ratio of 71.48, a price-to-earnings-growth ratio of 3.79 and a beta of 1.13. The company has a 50-day moving average price of $318.53 and a two-hundred day moving average price of $336.07.

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 the consensus estimate 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 company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business earned $1.65 earnings per share. Cadence Design Systems’s revenue was up 24.2% compared to the same quarter last year. 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. Analysts forecast that Cadence Design Systems will post 6.4 EPS for the current year.

Insider Activity at Cadence Design Systems

In other news, VP Paul Cunningham sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $277.12, for a total value of $554,240.00. Following the completion of the sale, the vice president directly owned 121,793 shares of the company’s stock, valued at $33,751,276.16. This trade represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 280 shares of the business’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 sale, the vice president owned 31,720 shares of the company’s stock, valued at $10,753,080. This trade represents 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. Over the last 90 days, insiders have sold 6,960 shares of company stock valued at $2,185,879. Corporate insiders own 0.49% of the company’s stock.

Institutional Trading of Cadence Design Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its stake in Cadence Design Systems by 1.1% during the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock worth $3,939,561,000 after acquiring an additional 135,206 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Cadence Design Systems by 21.8% during the 2nd quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker’s stock valued at $1,835,227,000 after purchasing an additional 874,392 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Cadence Design Systems by 1.5% during the 2nd 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 valued at $1,270,704,000 after purchasing an additional 48,937 shares during the last quarter. J. Stern & Co. LLP lifted its stake in 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. Finally, Legal & General Group Plc acquired a new stake in Cadence Design Systems in the second quarter valued at approximately $702,615,000. Institutional investors own 84.85% of the company’s stock.

About Cadence Design Systems

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.