Cadence Design Systems’ (CDNS) “Buy” Rating Reaffirmed at Rosenblatt Securities

Cadence Design Systems (NASDAQ:CDNS)‘s stock had its “buy” rating restated by research analysts at Rosenblatt Securities in a note issued to investors on Friday, Benzinga reports. They currently have a $420.00 price objective on the software maker’s stock. Rosenblatt Securities‘s price objective would indicate a potential upside of 32.71% from the stock’s previous close.

A number of other brokerages also recently commented on CDNS. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $420.00 price target (up from $400.00) on shares of Cadence Design Systems in a report on Wednesday, October 7th. Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Benchmark restated a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Wall Street Zen downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Citigroup boosted their price target on Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and an average target price of $404.14.

Cadence Design Systems Price Performance

NASDAQ:CDNS traded up $6.84 during trading hours on Friday, reaching $316.49. 2,320,886 shares of the company traded hands, compared to its average volume of 2,441,678. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. The firm’s 50-day moving average is $318.35 and its 200-day moving average is $340.48. The stock has a market cap of $87.16 billion, a P/E ratio of 62.92, a P/E/G ratio of 3.49 and a beta of 1.13. Cadence Design Systems has a 1-year low of $262.75 and a 1-year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.06. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 earnings per share. 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. Equities research analysts expect that Cadence Design Systems will post 6.42 earnings per share for the current fiscal year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $277.12, for a total value of $554,240.00. Following the transaction, the vice president owned 121,793 shares in the company, valued at $33,751,276.16. This trade represents a 1.62% decrease in their position. The sale 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, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $350.07, for a total value of $437,587.50. Following the sale, the director owned 39,544 shares of the company’s stock, valued at approximately $13,843,168.08. The trade was a 3.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 8,960 shares of company stock worth $2,834,139. 0.49% of the stock is currently owned by company insiders.

Institutional Trading of Cadence Design Systems

A number of institutional investors and hedge funds have recently bought and sold shares of CDNS. Citizens Financial Group Inc. RI increased its position in shares of Cadence Design Systems by 3.6% in the third quarter. Citizens Financial Group Inc. RI now owns 4,641 shares of the software maker’s stock worth $1,532,000 after acquiring an additional 162 shares in the last quarter. Yousif Capital Management LLC increased its holdings in Cadence Design Systems by 0.5% in the 3rd quarter. Yousif Capital Management LLC now owns 26,272 shares of the software maker’s stock valued at $8,675,000 after purchasing an additional 121 shares in the last quarter. Andrew Hill Investment Advisors Inc. purchased a new position in Cadence Design Systems in the third quarter valued at about $2,639,000. Boomfish Wealth Group LLC raised its position in Cadence Design Systems by 5.6% in the third quarter. Boomfish Wealth Group LLC now owns 2,024 shares of the software maker’s stock valued at $668,000 after purchasing an additional 107 shares during the period. Finally, MBL Wealth LLC acquired a new position in shares of Cadence Design Systems during the third quarter worth about $452,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

About Cadence Design Systems

Cadence Design Systems, Inc develops computational software, hardware, and semiconductor intellectual property used to design and verify electronic systems and integrated circuits. Its electronic design automation (EDA) solutions support chip development across areas such as digital and custom IC design, functional verification, emulation, prototyping, and system analysis.

The company also provides semiconductor IP, including processor cores, interconnect technologies, memory interfaces, and other building blocks that help customers develop complex chips.