Cadence Design Systems (CDNS) Stock Forecast, Price & News

10 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Cadence Design Systems in the last year. There are currently 1 hold rating and 9 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" CDNS shares.
View CDNS analyst ratings or view top-rated stocks.

10 equities research analysts have issued 1 year target prices for Cadence Design Systems' stock. Their CDNS share price forecasts range from $200.00 to $240.00. On average, they predict the company's share price to reach $220.80 in the next twelve months. This suggests that the stock has a possible downside of 3.2%.
View analysts price targets for CDNS or view top-rated stocks among Wall Street analysts.

Cadence Design Systems' stock was trading at $160.64 at the start of the year. Since then, CDNS shares have increased by 42.1% and is now trading at $228.19.
View the best growth stocks for 2023 here.

Cadence Design Systems saw a increase in short interest during the month of May. As of May 15th, there was short interest totaling 3,750,000 shares, an increase of 10.6% from the April 30th total of 3,390,000 shares. Based on an average daily volume of 1,760,000 shares, the short-interest ratio is presently 2.1 days. Currently, 1.4% of the company's stock are sold short.
View Cadence Design Systems' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Monday, July 24th 2023.
View our CDNS earnings forecast.

Cadence Design Systems, Inc. (NASDAQ:CDNS) released its quarterly earnings data on Monday, April, 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. The software maker had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Cadence Design Systems had a net margin of 23.24% and a trailing twelve-month return on equity of 33.80%. Cadence Design Systems's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 earnings per share.
Read the conference call transcript.

ETFs with the largest weight of Cadence Design Systems (NASDAQ:CDNS) stock in their portfolio include American Century Mid Cap Growth Impact (MID), ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA), Invesco Dynamic Software ETF (PSJ), Franklin Intelligent Machines ETF (IQM), VictoryShares THB Mid Cap ESG ETF (MDCP), Invesco DWA Technology Momentum ETF (PTF), VanEck Semiconductor ETF (SMH) and American Century STOXX U.S. Quality Growth ETF (QGRO).

Cadence Design Systems updated its second quarter 2023 earnings guidance on Thursday, April, 27th. The company provided earnings per share (EPS) guidance of $1.15-$1.19 for the period, compared to the consensus EPS estimate of $1.25. The company issued revenue guidance of $960.00 million-$980.00 million, compared to the consensus revenue estimate of $1.01 billion.

675 employees have rated Cadence Design Systems Chief Executive Officer Lip-Bu Tan on Glassdoor.com. Lip-Bu Tan has an approval rating of 98% among the company's employees. This puts Lip-Bu Tan in the top 20% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Cadence Design Systems investors own include NVIDIA (NVDA), Advanced Micro Devices (AMD), PayPal (PYPL), Alibaba Group (BABA), Intel (INTC), QUALCOMM (QCOM), Cisco Systems (CSCO), Salesforce (CRM), Adobe (ADBE) and Home Depot (HD).

Cadence Design Systems trades on the NASDAQ under the ticker symbol "CDNS."

Cadence Design Systems' stock is owned by a variety of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (12.00%), State Street Corp (4.18%), FMR LLC (3.67%), Geode Capital Management LLC (2.27%), Price T Rowe Associates Inc. MD (2.00%) and Jennison Associates LLC (1.78%). Insiders that own company stock include Aneel Zaman, Anirudh Devgan, Chin-Chi Teng, James D Plummer, John B Shoven, John M Wall, Karna Nisewaner, Lip Bu Tan, Mark Adams, Paul Cunningham, Surendra Babu Mandava, Susan L Bostrom, Thomas P Beckley, Vincentelli Albert Sangiovanni and Young Sohn.
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Shares of CDNS stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of CDNS stock can currently be purchased for approximately $228.19.

Cadence Design Systems (NASDAQ:CDNS) has a market capitalization of $62.22 billion and generates $3.56 billion in revenue each year. The software maker earns $848.95 million in net income (profit) each year or $3.13 on an earnings per share basis.

The company employs 10,200 workers across the globe.

Cadence Design Systems' mailing address is 2655 SEELY AVENUE BLDG 5, SAN JOSE CA, 95134. The official website for the company is www.cadence.com. The software maker can be reached via phone at (408) 943-1234, via email at investor_relations@cadence.com, or via fax at 408-428-5001.