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 Stock Up 1.3 %

NASDAQ:CDNS traded up $2.48 during trading on Friday, hitting $188.83. The company's stock had a trading volume of 1,805,929 shares, compared to its average volume of 1,733,169. Cadence Design Systems has a fifty-two week low of $132.32 and a fifty-two week high of $192.70. The company has a market cap of $51.71 billion, a PE ratio of 67.68, a P/E/G ratio of 3.18 and a beta of 1.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.59 and a quick ratio of 1.49. The business's 50 day simple moving average is $162.29 and its 200-day simple moving average is $154.66.

Cadence Design Systems (NASDAQ:CDNS - Get Rating) last released its earnings results on Monday, July 25th. The software maker reported $1.08 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.12. The company had revenue of $858.00 million during the quarter, compared to analysts' expectations of $835.01 million. Cadence Design Systems had a net margin of 23.61% and a 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 last year, the business earned $0.71 EPS. On average, equities analysts anticipate that Cadence Design Systems will post 3.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on CDNS shares. KeyCorp upped their price objective on shares of Cadence Design Systems from $205.00 to $215.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 26th. Rosenblatt Securities lifted their price objective on shares of Cadence Design Systems from $170.00 to $185.00 and gave the company a "buy" rating in a report on Tuesday, July 26th. Bank of America upgraded Cadence Design Systems from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $160.00 to $175.00 in a report on Wednesday, June 29th. Needham & Company LLC lifted their price target on Cadence Design Systems from $193.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, July 26th. Finally, UBS Group upped their price objective on Cadence Design Systems from $170.00 to $180.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 26th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $189.30.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director John B. Shoven sold 20,000 shares of the business's stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $186.11, for a total transaction of $3,722,200.00. Following the sale, the director now owns 5,860 shares in the company, valued at approximately $1,090,604.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director John B. Shoven sold 20,000 shares of Cadence Design Systems stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $186.11, for a total transaction of $3,722,200.00. Following the completion of the sale, the director now owns 5,860 shares of the company's stock, valued at $1,090,604.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Aneel Zaman sold 22,542 shares of the stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $153.36, for a total transaction of $3,457,041.12. Following the completion of the transaction, the vice president now owns 96,183 shares in the company, valued at approximately $14,750,624.88. The disclosure for this sale can be found here. Insiders have sold a total of 429,806 shares of company stock valued at $68,543,603 in the last ninety days. Company insiders own 1.99% of the company's stock.