NASDAQ:CDNS

Cadence Design Systems - CDNS Stock Forecast, Price & News

$172.43

-4.35 (-2.46%)

(As of 12/2/2022 12:00 AM ET)

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Today's Range: $170.29
▼
$173.45
50-Day Range: $142.41
▼
$176.78
52-Week Range: $132.32
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$194.97

Volume: 1.26 million shs
Average Volume: 1.53 million shs
Market Capitalization: $47.30 billion

P/E Ratio: 60.71
Dividend Yield: N/A
Price Target: $192.75

Cadence Design Systems MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.64 Rating Score
Upside/Downside: 11.8% Upside
$192.75 Price Target
Short Interest: Healthy
1.29% of Float Sold Short
Dividend Strength: N/A
Sustainability: -1.53
Upright™ Environmental Score
News Sentiment: 0.47
Based on 8 Articles This Week
Insider Trading: Selling Shares
$40.06 M Sold Last Quarter
Proj. Earnings Growth: 8.21%
From $3.41 to $3.69 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.20 out of 5 stars

Computer And Technology Sector

300th out of 633 stocks

Prepackaged Software Industry

119th out of 221 stocks

2.3

Analyst's Opinion

Consensus Rating
Cadence Design Systems has received a consensus rating of Buy. The company's average rating score is 2.64, and is based on 7 buy ratings, 4 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $192.75, Cadence Design Systems has a forecasted upside of 11.8% from its current price of $172.43.
Amount of Analyst Coverage
Cadence Design Systems has only been the subject of 3 research reports in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
1.29% of the float of Cadence Design Systems has been sold short.
Short Interest Ratio / Days to Cover
Cadence Design Systems has a short interest ratio ("days to cover") of 1.8, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Cadence Design Systems has recently increased by 2.93%, indicating that investor sentiment is decreasing.

0.0

Dividend Strength

Dividend Yield
Cadence Design Systems does not currently pay a dividend.
Dividend Growth
Cadence Design Systems does not have a long track record of dividend growth.

2.6

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Cadence Design Systems has received a 17.56% net impact score from Upright. Cadence Design Systems seems to create the most significant positive value in categories "Taxes", "Jobs", and "Creating knowledge". The positive contribution in the "Creating knowledge" impact category is mostly driven by its "Computer-aided design software for industrial uses", "Product development software", and "Software debuggers" products. See details.
Environmental Sustainability
The Environmental Impact score for Cadence Design Systems is -1.53.

1.9

News and Social Media Coverage

News Sentiment
Cadence Design Systems has a news sentiment score of 0.47. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 8 news articles for Cadence Design Systems this week, compared to 7 articles on an average week.
Search Interest
Only 23 people have searched for CDNS on MarketBeat in the last 30 days. This is a decrease of -43% compared to the previous 30 days.
MarketBeat Follows
Only 10 people have added Cadence Design Systems to their MarketBeat watchlist in the last 30 days. This is a decrease of -17% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Cadence Design Systems insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $40,056,578.00 in company stock.
Percentage Held by Insiders
Only 1.99% of the stock of Cadence Design Systems is held by insiders.
Percentage Held by Institutions
84.02% of the stock of Cadence Design Systems is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

2.5

Earnings and Valuation

Earnings Growth
Earnings for Cadence Design Systems are expected to grow by 8.21% in the coming year, from $3.41 to $3.69 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Cadence Design Systems is 60.71, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 124.37.
Price to Earnings Ratio vs. Sector
The P/E ratio of Cadence Design Systems is 60.71, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 359.59.
Price to Earnings Growth Ratio
Cadence Design Systems has a PEG Ratio of 2.93. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
Cadence Design Systems has a P/B Ratio of 17.47. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Cadence Design Systems (NASDAQ:CDNS) Stock

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. The company also provides digital IC design and sign off products, including Genus logic synthesis and Joules RTL power solutions, as well as Modus software solution to reduce systems-on-chip design-for-test time; physical implementation tools, such as place and route, optimization, and multiple patterning preparation; and signoff products to signoff the design as ready for silicon manufacturing. In addition, it offers custom IC design and simulation products to create schematic and physical representations of circuits down to the transistor level for analog, mixed-signal, custom digital, memory, and radio frequency designs; and system design and analysis products to develop printed circuit boards and IC packages, as well as to analyze electromagnetic, electro-thermal, and other multi-physics effects. Further, the company provides intellectual property (IP) products comprising pre-verified and customizable functional blocks to integrate into customer's ICs; and verification IP and memory models to emulate and model the expected behavior and interaction of standard industry system interface protocols. Additionally, it offers services related to methodology, education, and hosted design solutions, as well as technical support and maintenance services. The company serves 5G communications, aerospace and defense, automotive, industrial and healthcare, mobile, consumer, and hyperscale computing markets. Cadence Design Systems, Inc. was incorporated in 1987 and is headquartered in San Jose, California.

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CDNS Stock News Headlines

November 28, 2022 | marketbeat.com

Is Snowflake Poised for A Rebound After Its Recent Tumble? (CDNS)

The cloud computing industry appears to be slowing but many stocks in the sector are a moderate buy. This means long term outlook is positive.

November 30, 2022 | americanbankingnews.com

StockNews.com Downgrades Cadence Design Systems (NASDAQ:CDNS) to Hold

November 29, 2022 | finance.yahoo.com

Building Confidence Through the Cadence Returnship Program

November 28, 2022 | finance.yahoo.com

Cadence’s Anirudh Devgan to Present at Nasdaq Investor Conference

November 28, 2022 | americanbankingnews.com

Analysts Set Cadence Design Systems, Inc. (NASDAQ:CDNS) Price Target at $192.75

November 23, 2022 | finance.yahoo.com

Why Is Cadence (CDNS) Up 9.2% Since Last Earnings Report?

November 23, 2022 | americanbankingnews.com

Cadence Design Systems, Inc. (NASDAQ:CDNS) Insider Lip Bu Tan Sells 40,000 Shares of Stock

November 21, 2022 | finance.yahoo.com

Cadence’s Nimish Modi to Present at Wells Fargo Conference

November 17, 2022 | finance.yahoo.com

Mobilizing the Impact of Our “One Team” Culture

November 15, 2022 | finance.yahoo.com

Michigan Electric Boat Propels the Naval Industry With Cadence CFD Tools, Including Fine Marine

November 15, 2022 | finance.yahoo.com

Cadence Introduces Industry’s Leading-Performance, Silicon-Proven 22Gbps GDDR6 IP at TSMC N5

November 14, 2022 | benzinga.com

Short Volatility Alert: Cadence Design Systems, Inc.

November 11, 2022 | finance.yahoo.com

Cadence Bank CEO shares update on BancorpSouth merger, growth plans

November 6, 2022 | finance.yahoo.com

Is Weakness In Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock A Sign That The Market Could be Wrong Given Its Strong Financial Prospects?

October 30, 2022 | finance.yahoo.com

New Chip Designs Are Booming, and This Stock Stands to Benefit

October 27, 2022 | apnews.com

Cadence’s New Flow Automates Custom/Analog Design Migration on TSMC Advanced Technologies

October 26, 2022 | finance.yahoo.com

Cadence Accelerates RF Design with Delivery of New TSMC N16 mmWave Reference Flow

October 26, 2022 | tmcnet.com

Cadence Digital and Custom/Analog Design Flows Achieve Certification for TSMC's Latest N4P and N3E Processes

October 25, 2022 | msn.com

Cadence Design Systems Earnings Perspective: Return On Capital Employed

October 25, 2022 | finance.yahoo.com

Cadence Digital and Custom/Analog Design Flows Achieve Certification for TSMC’s Latest N4P and N3E Processes

October 25, 2022 | finance.yahoo.com

Cadence Design Systems Faces Tough Crowd On Wall Street

October 25, 2022 | benzinga.com

Cadence Joins Intel Foundry Services USMAG Alliance to Accelerate Chip Design Development

October 25, 2022 | markets.businessinsider.com

Cadence Design Systems Q3 Profit Increases, beats estimates

October 25, 2022 | seekingalpha.com

Cadence Design Systems, Inc. (CDNS) Q3 2022 Earnings Call Transcript

October 24, 2022 | seekingalpha.com

Cadence Design Systems: Not A Buy Ahead Of Q3 Earnings (Technical Analysis)

See More Headlines

30 days | 90 days | 365 days | Advanced Chart

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CDNS Company Calendar

Last Earnings: 10/24/2022
Today: 12/03/2022
Fiscal Year End: 12/31/2022
Next Earnings (Estimated): 2/28/2023

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Prepackaged software
Sub-Industry: Application Software
Sector: Computer and Technology
Current Symbol: NASDAQ:CDNS
CUSIP: 12738710
CIK: 813672
Web: www.cadence.com
Phone: (408) 943-1234
Fax: 408-428-5001
Employees: 9,300
Year Founded: 1988

Price Target and Rating

Average Stock Price Forecast: $192.75
High Stock Price Forecast: $215.00
Low Stock Price Forecast: $175.00
Forecasted Upside/Downside: +11.8%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.64
Research Coverage: 11 Analysts

Profitability

EPS (Most Recent Fiscal Year): $2.84
Trailing P/E Ratio: 60.71
Forward P/E Ratio: 50.57
P/E Growth: 2.93
Net Income: $695.96 million
Net Margins: 22.86%
Pretax Margin: 29.95%
Return on Equity: 33.19%
Return on Assets: 19.85%

Debt

Debt-to-Equity Ratio: 0.24
Current Ratio: 1.33
Quick Ratio: 1.24

Sales & Book Value

Annual Sales: $2.99 billion
Price / Sales: 15.83
Cash Flow: $3.15 per share
Price / Cash Flow: 54.68
Book Value: $9.87 per share
Price / Book: 17.47

Miscellaneous

Outstanding Shares: 274,320,000
Free Float: 268,857,000
Market Cap: $47.30 billion
Optionable: Optionable
Beta: 1.09

Social Links

Key Executives

Mr. Lip-Bu Tan (Age 63)
Exec. Chair of the Board
Comp: $2.17M

Dr. Anirudh Devgan Ph.D. (Age 52)
CEO, Pres & Director
Comp: $1.74M

Mr. John M. Wall (Age 51)
Sr. VP & CFO
Comp: $1.3M

Mr. Thomas P. Beckley (Age 64)
Sr. VP and GM of Custom IC & PCB Group
Comp: $1.07M

Mr. Aneel Zaman (Age 53)
Sr. VP & Chief Revenue Officer
Comp: $1.3M

Dr. Chin-Chi Teng Ph.D. (Age 56)
Sr. VP and GM of the Digital & Signoff Group
Comp: $1.09M

Mr. Ariel Sella
Co-Founder

Mr. James Haddad
Corp. VP of Corp. Fin. & Treasurer

Mr. Richard Gu
VP of Investor Relations

Ms. Karna Nisewaner
Corp. VP, Gen. Counsel & Sec.

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

CDNS Stock - Frequently Asked Questions

Should I buy or sell Cadence Design Systems stock right now?: 11 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Cadence Design Systems in the last twelve months. There are currently 4 hold ratings and 7 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.
What is Cadence Design Systems' stock price forecast for 2023?: 11 brokerages have issued 12 month price objectives for Cadence Design Systems' shares. Their CDNS share price forecasts range from $175.00 to $215.00. On average, they expect the company's stock price to reach $192.75 in the next twelve months. This suggests a possible upside of 11.8% from the stock's current price.
View analysts price targets for CDNS or view top-rated stocks among Wall Street analysts.
How have CDNS shares performed in 2022?: Cadence Design Systems' stock was trading at $186.35 at the beginning of 2022. Since then, CDNS stock has decreased by 7.5% and is now trading at $172.43.
View the best growth stocks for 2022 here.
When is Cadence Design Systems' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 28th 2023.
View our CDNS earnings forecast.
How were Cadence Design Systems' earnings last quarter?: Cadence Design Systems, Inc. (NASDAQ:CDNS) posted its quarterly earnings data on Monday, October, 24th. The software maker reported $1.06 EPS for the quarter, topping the consensus estimate of $0.96 by $0.10. The software maker earned $902.55 million during the quarter, compared to analysts' expectations of $868.85 million. Cadence Design Systems had a net margin of 22.86% and a trailing twelve-month return on equity of 33.19%. The firm's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS.
Read the conference call transcript.
What guidance has Cadence Design Systems issued on next quarter's earnings?: Cadence Design Systems issued an update on its FY 2022 earnings guidance on Tuesday, November, 1st. The company provided EPS guidance of $4.20-$4.24 for the period, compared to the consensus EPS estimate of $4.12. The company issued revenue guidance of $3.53 billion-$3.55 billion, compared to the consensus revenue estimate of $3.50 billion.
What is Lip-Bu Tan's approval rating as Cadence Design Systems' CEO?: 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.

What other stocks do shareholders of Cadence Design Systems own?: 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).
What is Cadence Design Systems' stock symbol?: Cadence Design Systems trades on the NASDAQ under the ticker symbol "CDNS."
Who are Cadence Design Systems' major shareholders?: Cadence Design Systems' stock is owned by many different institutional and retail investors. Top institutional shareholders include Vanguard Group Inc. (11.66%), BlackRock Inc. (11.56%), Massachusetts Financial Services Co. MA (5.64%), State Street Corp (4.09%), Price T Rowe Associates Inc. MD (1.98%) and UBS Asset Management Americas Inc. (1.07%). Insiders that own company stock include Aneel Zaman, Anirudh Devgan, Chin-Chi Teng, James D Plummer, James J Cowie, John B Shoven, John M Wall, Lip Bu Tan, Mark Adams, Paul Cunningham, Roger S Siboni, Surendra Babu Mandava, Susan L Bostrom, Thomas P Beckley, Vincentelli Albert Sangiovanni and Young Sohn.
View institutional ownership trends.
How do I buy shares of Cadence Design Systems?: 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.
Compare Top Brokerages Here.
What is Cadence Design Systems' stock price today?: One share of CDNS stock can currently be purchased for approximately $172.43.
How much money does Cadence Design Systems make?: Cadence Design Systems (NASDAQ:CDNS) has a market capitalization of $47.30 billion and generates $2.99 billion in revenue each year. The software maker earns $695.96 million in net income (profit) each year or $2.84 on an earnings per share basis.
How many employees does Cadence Design Systems have?: The company employs 9,300 workers across the globe.
Does Cadence Design Systems have any subsidiaries?: The following companies are subsidiares of Cadence Design Systems: AWR Corporation, Altos Design Automation, Ambit Design Systems, Antrim Design Systems, Azuro, Azuro Inc., Beijing Cadence Electronics Technology Company Limited, Beijing Cadence Information Technology Co. Ltd., Bell Labs DA Group Of Lucent, C2 Design Automation (d/b/a Forte Design Systems), CadMos Design Technology, Cadence Design (Israel) II Ltd., Cadence Design Enablement Unlimited Company, Cadence Design Systems (Canada) Ltd., Cadence Design Systems (Cyprus) Ltd., Cadence Design Systems (India) Private Limited, Cadence Design Systems (Ireland) Limited, Cadence Design Systems (Israel) Ltd., Cadence Design Systems (Japan) B.V., Cadence Design Systems (S) Pte Ltd., Cadence Design Systems (Taiwan) B.V., Cadence Design Systems A.B., Cadence Design Systems B.V., Cadence Design Systems GmbH, Cadence Design Systems I B.V., Cadence Design Systems Kft., Cadence Design Systems LLC, Cadence Design Systems Leasing Inc., Cadence Design Systems Limited, Cadence Design Systems Management (Shanghai) Ltd., Cadence Design Systems S.A.S., Cadence Design Systems S.r.l., Cadence Design Systems do Brasil Microeletronica Ltda., Cadence Group Unlimited Company, Cadence International (Cyprus) Ltd., Cadence International Ltd., Cadence Korea Ltd., Cadence Taiwan Inc., Cadence Technology Limited, Cadence U.S. Inc., Castlewilder Global Unlimited Company, Castlewilder Unlimited Company, Celestry Design Technologies, Chip Estimate, Chip Estimate Corporation, Clear Shape Technologies, CommandCAD, Cooper & Chyan Technology, Cosmic Circuits, DSM Technologies, Daffodil Acquisition II Inc., Denali Software, Denali Software Kabushiki Kaisha, Denali Software LLC, Design Acceleration, Diablo Research, Détente Technology, ETop Design Automation, Esperan, Evatronix - IP Business, Forte Design Systems, Gardenia MJM II, Get2Chip, High Level Design Systems, Integrand Software, Invarium, Jasper Design Automation, Jasper Design Automation LLC, Jasper Holdings Ltd., K2 Technologies, Knowlent, Nanjing Kai Ding Electronics Technology Co. Ltd., Nascentric, Neolinear, OrCAD, Parsec Software, Pinebush Technologies, Plato Design Systems, Praesagus (Cadence), Q Design Automation, Quickturn Design Systems, Quickturn Design Systems Inc., Rocketick, Rocketick Inc., SFM Technology Inc., Seed Solutions, Shanghai Cadence Electronics Technology Co. Ltd., Sigrity, Sigrity Inc., Silicon Perspective, Solomon Design Automation (SDA), SpinCircuit, TVP I LLC, TVP II LLC, TVP III LLC, Tangent Systems Corporation, Taray, Taray Inc., Telos Venture Partners III L.P., Tensilica, Tensilica LLC, TranSwitch, Tundra Holdings Inc., Valid Logic Systems, Verisity, Verplex Systems, nusemi, and nusemi inc.
Read More
How can I contact Cadence Design Systems?: 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.

This page (NASDAQ:CDNS) was last updated on 12/3/2022 by MarketBeat.com Staff

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