Cadence Design Systems, Inc. Forecasted to Earn Q1 2025 Earnings of $1.17 Per Share (NASDAQ:CDNS)

Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) - Equities research analysts at Griffin Securities increased their Q1 2025 earnings estimates for Cadence Design Systems in a research report issued to clients and investors on Tuesday, April 23rd. Griffin Securities analyst J. Vleeschhouwer now anticipates that the software maker will earn $1.17 per share for the quarter, up from their previous forecast of $1.12. The consensus estimate for Cadence Design Systems' current full-year earnings is $4.81 per share.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company raised their price objective on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 16th. Robert W. Baird boosted their price target on shares of Cadence Design Systems from $302.00 to $322.00 and gave the stock an "outperform" rating in a research note on Thursday, April 18th. KeyCorp boosted their price objective on Cadence Design Systems from $335.00 to $340.00 and gave the company an "overweight" rating in a research report on Monday, April 15th. Piper Sandler reduced their target price on shares of Cadence Design Systems from $334.00 to $318.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, StockNews.com upgraded shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $316.50.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS traded down $0.58 during trading on Thursday, reaching $277.08. The stock had a trading volume of 2,044,148 shares, compared to its average volume of 1,572,117. The stock has a fifty day simple moving average of $304.38 and a two-hundred day simple moving average of $280.97. The company has a quick ratio of 1.13, a current ratio of 1.32 and a debt-to-equity ratio of 0.08. Cadence Design Systems has a 52 week low of $198.92 and a 52 week high of $327.36. The firm has a market capitalization of $75.43 billion, a price-to-earnings ratio of 72.31, a P/E/G ratio of 3.43 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings results on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, beating the consensus estimate of $1.13 by $0.04. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1 billion. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. Cadence Design Systems's revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.02 EPS.

Institutional Trading of Cadence Design Systems

Several hedge funds have recently bought and sold shares of the stock. Parkside Financial Bank & Trust grew its holdings in Cadence Design Systems by 8.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 514 shares of the software maker's stock worth $140,000 after acquiring an additional 38 shares in the last quarter. Highview Capital Management LLC DE increased its holdings in shares of Cadence Design Systems by 0.8% in the fourth quarter. Highview Capital Management LLC DE now owns 5,180 shares of the software maker's stock valued at $1,411,000 after purchasing an additional 39 shares during the period. Fiduciary Trust Co boosted its holdings in shares of Cadence Design Systems by 0.6% in the 4th quarter. Fiduciary Trust Co now owns 6,730 shares of the software maker's stock valued at $1,833,000 after acquiring an additional 39 shares during the last quarter. GraniteShares Advisors LLC increased its stake in shares of Cadence Design Systems by 1.2% in the first quarter. GraniteShares Advisors LLC now owns 3,468 shares of the software maker's stock worth $1,080,000 after acquiring an additional 40 shares during the period. Finally, Wealthcare Advisory Partners LLC lifted its position in Cadence Design Systems by 4.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 951 shares of the software maker's stock valued at $296,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 84.85% of the company's stock.

Insiders Place Their Bets

In related news, VP Thomas P. Beckley sold 65,268 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $296.98, for a total value of $19,383,290.64. Following the transaction, the vice president now owns 156,156 shares of the company's stock, valued at $46,375,208.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Cadence Design Systems news, VP Aneel Zaman sold 1,207 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $303.90, for a total transaction of $366,807.30. Following the sale, the vice president now directly owns 61,150 shares in the company, valued at approximately $18,583,485. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thomas P. Beckley sold 65,268 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the completion of the transaction, the vice president now owns 156,156 shares in the company, valued at $46,375,208.88. The disclosure for this sale can be found here. Insiders have sold 173,044 shares of company stock worth $52,231,207 in the last ninety days. 1.99% of the stock is currently owned by insiders.

About Cadence Design Systems

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.