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.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $190.73 on Friday. The firm has a market cap of $52.24 billion, a PE ratio of 68.36, a PEG ratio of 3.28 and a beta of 1.15. 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 1-year low of $132.32 and a 1-year high of $194.97. The company has a fifty day moving average price of $164.88 and a 200 day moving average price of $155.98.

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, topping analysts' consensus estimates of $0.96 by $0.12. Cadence Design Systems had a net margin of 23.61% and a return on equity of 32.06%. The firm had revenue of $858.00 million during the quarter, compared to analyst estimates of $835.01 million. During the same period in the prior year, the business earned $0.71 EPS. The company's revenue for the quarter was up 17.9% compared to the same quarter last year. Research analysts predict that Cadence Design Systems will post 3.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on CDNS shares. Bank of America raised shares of Cadence Design Systems from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $160.00 to $175.00 in a report on Wednesday, June 29th. KeyCorp boosted their price target on shares of Cadence Design Systems from $205.00 to $215.00 and gave the company an "overweight" rating in a report on Tuesday, April 26th. Needham & Company LLC boosted their price target on shares of Cadence Design Systems from $193.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, July 26th. Wolfe Research initiated coverage on shares of Cadence Design Systems in a report on Tuesday. They issued an "outperform" rating and a $210.00 price target for the company. Finally, Robert W. Baird decreased their price target on shares of Cadence Design Systems from $211.00 to $203.00 in a report on Tuesday, April 26th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and an average target price of $191.18.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Aneel Zaman sold 22,542 shares of the business's stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $153.36, for a total transaction of $3,457,041.12. Following the sale, the vice president now directly owns 96,183 shares of the company's stock, valued at approximately $14,750,624.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Cadence Design Systems news, VP Aneel Zaman sold 22,542 shares of the business's stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $153.36, for a total transaction of $3,457,041.12. Following the sale, the vice president now directly owns 96,183 shares of the company's stock, valued at approximately $14,750,624.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paul Cunningham sold 250 shares of the business's stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $148.24, for a total transaction of $37,060.00. Following the sale, the vice president now directly owns 96,764 shares in the company, valued at $14,344,295.36. The disclosure for this sale can be found here. Insiders have sold 442,623 shares of company stock valued at $72,953,850 in the last three months. 1.99% of the stock is currently owned by corporate insiders.