Cadence Design Systems - CDNS Stock Forecast, Price & News

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.

Wall Street Analysts Forecast Growth

CDNS has been the subject of a number of analyst reports. KeyCorp raised their target price on shares of Cadence Design Systems from $205.00 to $215.00 and gave the company an "overweight" rating in a research report on Tuesday, April 26th. Wolfe Research assumed coverage on shares of Cadence Design Systems in a report on Tuesday. They issued an "outperform" rating and a $210.00 target price on the stock. Rosenblatt Securities upped their target price on Cadence Design Systems from $170.00 to $185.00 and gave the stock a "buy" rating in a research report on Tuesday, July 26th. UBS Group increased their target price on shares of Cadence Design Systems from $170.00 to $180.00 and gave the company a "neutral" rating in a report on Tuesday, April 26th. Finally, Bank of America raised Cadence Design Systems from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $160.00 to $175.00 in a report on Wednesday, June 29th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $191.18.

Cadence Design Systems Stock Performance

Shares of CDNS Stock opened at $191.00 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 0.13. Cadence Design Systems has a 12 month low of $132.32 and a 12 month high of $194.97. The company has a market cap of $52.31 billion, a P/E ratio of 68.46, a PEG ratio of 3.28 and a beta of 1.15. The firm has a fifty day moving average price of $164.18 and a 200 day moving average price of $155.71.

Cadence Design Systems (NASDAQ:CDNS - Get Rating) last announced its earnings results on Monday, July 25th. The software maker reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.12. The company had revenue of $858.00 million for the quarter, compared to the consensus estimate of $835.01 million. Cadence Design Systems had a return on equity of 32.06% and a net margin of 23.61%. The company's revenue was up 17.9% on a year-over-year basis. During the same period last year, the business posted $0.71 EPS. Sell-side analysts predict that Cadence Design Systems will post 3.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cadence Design Systems news, CFO John M. Wall sold 54,943 shares of the firm's stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $179.88, for a total transaction of $9,883,146.84. Following the sale, the chief financial officer now directly owns 135,406 shares of the company's stock, valued at approximately $24,356,831.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO John M. Wall sold 54,943 shares of the firm's stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $179.88, for a total value of $9,883,146.84. Following the transaction, the chief financial officer now owns 135,406 shares of the company's stock, valued at approximately $24,356,831.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lip Bu Tan sold 40,000 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $143.77, for a total transaction of $5,750,800.00. Following the completion of the sale, the insider now directly owns 612,176 shares of the company's stock, valued at approximately $88,012,543.52. The disclosure for this sale can be found here. Insiders have sold 482,623 shares of company stock worth $78,704,650 in the last three months. Corporate insiders own 1.99% of the company's stock.