Cadence Design Systems - CDNS Stock Forecast, Price & News

12 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Cadence Design Systems in the last twelve months. There are currently 5 hold ratings and 7 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" CDNS shares.
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12 Wall Street analysts have issued twelve-month target prices for Cadence Design Systems' stock. Their CDNS share price forecasts range from $175.00 to $215.00. On average, they expect the company's stock price to reach $191.92 in the next year. This suggests a possible upside of 18.2% from the stock's current price.
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Cadence Design Systems' stock was trading at $186.35 at the start of the year. Since then, CDNS stock has decreased by 12.9% and is now trading at $162.38.
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The company is scheduled to release its next quarterly earnings announcement on Monday, October 24th 2022.
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Cadence Design Systems, Inc. (NASDAQ:CDNS) announced its quarterly earnings results on Monday, July, 25th. The software maker reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.12. The software maker had revenue of $858 million for the quarter, compared to the consensus estimate of $835.01 million. Cadence Design Systems had a net margin of 23.61% and a trailing twelve-month return on equity of 32.06%. Cadence Design Systems's revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 EPS.
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Cadence Design Systems updated its third quarter 2022 earnings guidance on Monday, August, 1st. The company provided earnings per share guidance of $0.94-$0.98 for the period, compared to the consensus earnings per share estimate of $0.93. The company issued revenue guidance of $860.00 million-$880.00 million, compared to the consensus revenue estimate of $847.81 million.

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 investors include Massachusetts Financial Services Co. MA (6.91%), State Street Corp (4.08%), FMR LLC (3.78%), Northern Trust Corp (1.12%), UBS Asset Management Americas Inc. (1.09%) and Brown Advisory Inc. (1.04%). 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.
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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 $162.38.

Cadence Design Systems (NASDAQ:CDNS) has a market capitalization of $44.47 billion and generates $2.99 billion in revenue each year. The software maker earns $695.96 million in net income (profit) each year or $2.79 on an earnings per share basis.

The company employs 9,300 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.