Cadence Design Systems (NASDAQ:CDNS) Price Target Raised to $410.00

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

A number of other equities research analysts have also recently issued reports on CDNS. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Piper Sandler boosted their price objective on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 target price on shares of Cadence Design Systems in a report on Tuesday, April 28th. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a research report on Thursday, July 2nd. Finally, Wells Fargo & Company boosted their target price on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $390.12.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $377.92 on Tuesday. Cadence Design Systems has a 12 month low of $262.75 and a 12 month high of $416.69. The stock’s 50 day moving average is $375.79 and its 200-day moving average is $327.44. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $104.24 billion, a price-to-earnings ratio of 88.09, a PEG ratio of 4.55 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.05. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the firm posted $1.57 EPS. 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. Equities research analysts expect that Cadence Design Systems will post 6.23 EPS for the current year.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Scannell sold 10,500 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $339.00, for a total value of $3,559,500.00. Following the completion of the sale, the vice president owned 33,946 shares in the company, valued at $11,507,694. This represents a 23.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 51,887 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the transaction, the chief executive officer owned 303,525 shares of the company’s stock, valued at approximately $112,304,250. The trade was a 14.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 178,557 shares of company stock valued at $66,925,452 over the last 90 days. Insiders own 0.49% of the company’s stock.

Institutional Trading of Cadence Design Systems

Several institutional investors and hedge funds have recently modified their holdings of the business. MUFG Securities EMEA plc grew its holdings in Cadence Design Systems by 113.9% in the 4th quarter. MUFG Securities EMEA plc now owns 11,159 shares of the software maker’s stock worth $3,488,000 after acquiring an additional 5,943 shares during the last quarter. Sun Financial Inc purchased a new position in shares of Cadence Design Systems in the 4th quarter valued at approximately $1,225,000. DDD Partners LLC boosted its position in shares of Cadence Design Systems by 27.4% during the fourth quarter. DDD Partners LLC now owns 41,968 shares of the software maker’s stock valued at $13,118,000 after purchasing an additional 9,024 shares in the last quarter. Leonteq Securities AG bought a new position in Cadence Design Systems in the fourth quarter worth $1,105,000. Finally, PNC Financial Services Group Inc. lifted its position in Cadence Design Systems by 1.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 369,717 shares of the software maker’s stock valued at $115,566,000 after buying an additional 3,562 shares during the period. 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.