Cadence Design Systems (NASDAQ:CDNS) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Cadence Design Systems (NASDAQ:CDNS) from a hold rating to a buy rating in a research report sent to investors on Saturday.

A number of other research firms have also issued reports on CDNS. Rosenblatt Securities upped their target price on shares of Cadence Design Systems from $410.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of Cadence Design Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Oppenheimer reissued a “market perform” rating and issued a $300.00 price objective on shares of Cadence Design Systems in a research report on Tuesday. Citigroup raised their target price on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Benchmark reaffirmed a “buy” rating on shares of Cadence Design Systems in a research note on Tuesday. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $405.69.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $340.02 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.32 and a current ratio of 1.74. The stock has a fifty day moving average of $372.37 and a two-hundred day moving average of $330.02. The company has a market capitalization of $93.64 billion, a price-to-earnings ratio of 67.60, a PEG ratio of 3.65 and a beta of 1.15. Cadence Design Systems has a fifty-two week low of $262.75 and a fifty-two week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.06. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate 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 was up 24.2% on a year-over-year basis. During the same period in the prior year, the business earned $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. On average, analysts anticipate that Cadence Design Systems will post 6.4 EPS for the current fiscal year.

Insider Activity at Cadence Design Systems

In other news, 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 directly owned 303,525 shares in the company, valued at $112,304,250. This represents a 14.60% decrease in their position. The sale was disclosed in a legal 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 Cunningham sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $391.00, for a total transaction of $782,000.00. Following the completion of the sale, the vice president directly owned 126,586 shares in the company, valued at $49,495,126. This represents a 1.56% 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 145,557 shares of company stock worth $56,375,287. Corporate insiders own 0.49% of the company’s stock.

Institutional Trading of Cadence Design Systems

Several institutional investors have recently made changes to their positions in the stock. Whipplewood Advisors LLC raised its position in shares of Cadence Design Systems by 933.3% in the 1st quarter. Whipplewood Advisors LLC now owns 93 shares of the software maker’s stock worth $26,000 after buying an additional 84 shares during the period. Brown Lisle Cummings Inc. grew its position in Cadence Design Systems by 860.0% during the first quarter. Brown Lisle Cummings Inc. now owns 96 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in Cadence Design Systems during the fourth quarter valued at about $28,000. Swiss RE Ltd. acquired a new stake in Cadence Design Systems during the fourth quarter worth about $29,000. Finally, Imprint Wealth LLC acquired a new stake in Cadence Design Systems during the third quarter worth about $31,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

About Cadence Design Systems

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.