NASDAQ:CDNS

Cadence Design Systems - CDNS Stock Forecast, Price & News

$185.85

-3.37 (-1.78%)

(As of 02/3/2023 12:00 AM ET)

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Today's Range: $184.23
▼
$188.68
50-Day Range: $156.80
▼
$189.22
52-Week Range: $132.32
▼
$194.97

Volume: 1.16 million shs
Average Volume: 1.37 million shs
Market Capitalization: $50.98 billion

P/E Ratio: 65.44
Dividend Yield: N/A
Price Target: $195.50

Institutional Ownership

Cadence Design Systems MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.73 Rating Score
Upside/Downside: 5.2% Upside
$195.50 Price Target
Short Interest: Healthy
0.98% of Float Sold Short
Dividend Strength: N/A
Sustainability: -1.47
Upright™ Environmental Score
News Sentiment: 0.30
Based on 13 Articles This Week
Insider Trading: Selling Shares
$27.91 M Sold Last Quarter
Proj. Earnings Growth: 7.04%
From $3.41 to $3.65 Per Share

Overall MarketRank^™

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

1.92 out of 5 stars

Computer And Technology Sector

386th out of 610 stocks

Prepackaged Software Industry

131st out of 215 stocks

1.4

Analyst's Opinion

Consensus Rating
Cadence Design Systems has received a consensus rating of Buy. The company's average rating score is 2.73, and is based on 8 buy ratings, 3 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $195.50, Cadence Design Systems has a forecasted upside of 5.2% from its current price of $185.85.
Amount of Analyst Coverage
Cadence Design Systems has only been the subject of 2 research reports in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
0.98% 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 1.7, 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 0.76%, 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.

2.8

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Cadence Design Systems has received a 21.10% 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 -1.47.

1.8

News and Social Media Coverage

News Sentiment
Cadence Design Systems has a news sentiment score of 0.30. 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 is a lower news sentiment than the 0.44 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 13 news articles for Cadence Design Systems this week, compared to 8 articles on an average week.
Search Interest
Only 7 people have searched for CDNS on MarketBeat in the last 30 days. This is a decrease of -46% compared to the previous 30 days.
MarketBeat Follows
Only 7 people have added Cadence Design Systems to their MarketBeat watchlist in the last 30 days. This is a decrease of -30% 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 $27,909,463.00 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
84.06% 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 7.04% in the coming year, from $3.41 to $3.65 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Cadence Design Systems is 65.44, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 142.26.
Price to Earnings Ratio vs. Sector
The P/E ratio of Cadence Design Systems is 65.44, 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 405.56.
Price to Earnings Growth Ratio
Cadence Design Systems has a PEG Ratio of 2.56. 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 18.79. 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. engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP. It operates through the following geographical segments: Americas, Asia, Europe, Middle East and Africa, and Japan. The company was founded by Alberto Sangiovanni-Vincentelli, Gudmundur A. Hjartarson, K. Bobby Chao, and K. Charles Janac in June 1988 and is headquartered in San Jose, CA.

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CDNS Stock News Headlines

February 3, 2023 | finance.yahoo.com

When Should You Buy Cadence Design Systems, Inc. (NASDAQ:CDNS)?

February 3, 2023 | finance.yahoo.com

12 Biggest Industrial Software Companies in the World

February 5, 2023 | Wall Street Watch Dogs (Ad)

“Future Fuel” will unleash $11 trillion wave of wealth

The next major energy revolution is unfolding right now. And it could hand early investors as much as 46,700% gains…

February 3, 2023 | americanbankingnews.com

Cadence Design Systems, Inc. (NASDAQ:CDNS) Insider Lip Bu Tan Sells 30,000 Shares of Stock

January 31, 2023 | marketwatch.com

Cadence Design Systems Inc. stock rises Tuesday, still underperforms market

January 31, 2023 | msn.com

Cadence Design gets mild lift as Deutsche Bank reiterates buy rating

January 31, 2023 | finance.yahoo.com

Cadence (CADE) Q4 Earnings Beat Estimates

January 30, 2023 | americanbankingnews.com

Cadence Design Systems (NASDAQ:CDNS) Upgraded by StockNews.com to Buy

February 5, 2023 | Wall Street Watch Dogs (Ad)

“Future Fuel” will unleash $11 trillion wave of wealth

The next major energy revolution is unfolding right now. And it could hand early investors as much as 46,700% gains…

January 26, 2023 | finance.yahoo.com

From Heated Seats to Wearable Heart Monitors; CDNS Eyes $215 Billion Opportunity And Nears Buy Point

January 26, 2023 | americanbankingnews.com

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Sells $180,000.00 in Stock

January 25, 2023 | finance.yahoo.com

Will Cadence's JedAI Make Chip Shortage A Thing Of The Past? CDNS Nears Buy Point

January 25, 2023 | finance.yahoo.com

Cadence Quantus FS Solution, a 3D Field Solver, Achieves Certification for Samsung Foundry’s SF4, SF3E and SF3 Process Technologies

January 24, 2023 | marketwatch.com

Cadence Design Systems Inc. stock underperforms Tuesday when compared to competitors

January 20, 2023 | finance.yahoo.com

Cadence Design Systems' (NASDAQ:CDNS) investors will be pleased with their splendid 275% return over the last five years

January 20, 2023 | finance.yahoo.com

Bullish on Intel in 2023? Buy This Top Chip Stock Instead

January 18, 2023 | finance.yahoo.com

GUC Delivers its First TSMC N3 Chip and First AI-Optimized N5 Design Using Cadence Digital Solutions

January 18, 2023 | finance.yahoo.com

Wall Street Predicts: 2 Growth Stocks to Skyrocket in 2023

January 13, 2023 | benzinga.com

Cadence Design Sys Stock (NASDAQ:CDNS), Quotes and News Summary

January 11, 2023 | finance.yahoo.com

Cadence Awards Diversity in Technology Scholarship to 38 Students

January 9, 2023 | finance.yahoo.com

Penn Electric Racing Revs Up with Cadence Celsius Thermal Solver and AWR Software Products

January 6, 2023 | finance.yahoo.com

Cadence Announces Fourth Quarter and Fiscal Year 2022 Financial Results Webcast

January 6, 2023 | finance.yahoo.com

Possible bearish signals as Cadence Design Systems, Inc. (NASDAQ:CDNS) insiders disposed of US$16m worth of stock

January 4, 2023 | finance.yahoo.com

Cadence Insurance names new president, acquires Houston company's assets

December 28, 2022 | finance.yahoo.com

Should You Expect Sustainable Growth from Cadence Design Systems (CDNS) in Coming Years?

December 24, 2022 | finance.yahoo.com

Great week for Cadence Bank (NYSE:CADE) institutional investors after losing 12% over the previous year

December 23, 2022 | finance.yahoo.com

Cadence (CDNS) Boosts Portfolio for High-Speed Data Transfer

See More Headlines

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CDNS Company Calendar

Last Earnings: 10/24/2021
Today: 2/04/2023
Next Earnings (Confirmed): 2/13/2023
Fiscal Year End: 12/31/2023

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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: $195.50
High Stock Price Forecast: $215.00
Low Stock Price Forecast: $175.00
Forecasted Upside/Downside: +5.2%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.73
Research Coverage: 11 Analysts

Profitability

EPS (Most Recent Fiscal Year): $2.84
Trailing P/E Ratio: 65.44
Forward P/E Ratio: 54.50
P/E Growth: 2.56
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: $3.43 billion
Price / Sales: 14.84
Cash Flow: $3.18 per share
Price / Cash Flow: 58.53
Book Value: $9.89 per share
Price / Book: 18.79

Miscellaneous

Outstanding Shares: 274,316,000
Free Float: 268,857,000
Market Cap: $50.98 billion
Optionable: Optionable
Beta: 1.12

Social Links

Key Executives

Anirudh Devgan
President, Chief Executive Officer & Director

John M. Wall
Chief Financial Officer & Senior Vice President

Chin Chi Teng
Senior Vice President-Research & Development

Neil Kole
Chief Information Officer & Senior Vice President

Neil Zaman
Chief Revenue Officer & Senior Vice President

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 year. There are currently 3 hold ratings and 8 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 Wall Street research analysts have issued 1 year price objectives for Cadence Design Systems' shares. Their CDNS share price forecasts range from $175.00 to $215.00. On average, they anticipate the company's share price to reach $195.50 in the next year. This suggests a possible upside of 5.2% 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 2023?: Cadence Design Systems' stock was trading at $160.64 on January 1st, 2023. Since then, CDNS shares have increased by 15.7% and is now trading at $185.85.
View the best growth stocks for 2023 here.
When is Cadence Design Systems' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Monday, February 13th 2023.
View our CDNS earnings forecast.
How can I listen to Cadence Design Systems' earnings call?: Cadence Design Systems will be holding an earnings conference call on Monday, February 13th at 5:00 PM Eastern. Interested parties can register for or listen to the call using this link.
How were Cadence Design Systems' earnings last quarter?: Cadence Design Systems, Inc. (NASDAQ:CDNS) posted its quarterly earnings data on Sunday, October, 24th. The software maker reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.05. The software maker earned $750.90 million during the quarter, compared to the consensus estimate of $741.84 million. Cadence Design Systems had a net margin of 22.86% and a trailing twelve-month return on equity of 33.19%. The business's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the business posted $0.58 EPS.
Read the conference call transcript.
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 Sumitomo Mitsui Trust Holdings Inc. (0.33%), Allspring Global Investments Holdings LLC (0.31%), Bank Julius Baer & Co. Ltd Zurich (0.26%), Stephens Investment Management Group LLC (0.16%), Wedge Capital Management L L P NC (0.14%) and New York State Common Retirement Fund (0.14%). 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, Karna Nisewaner, 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 $185.85.
How much money does Cadence Design Systems make?: Cadence Design Systems (NASDAQ:CDNS) has a market capitalization of $50.98 billion and generates $3.43 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 2/5/2023 by MarketBeat.com Staff

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Cadence Design Systems - CDNS Stock Forecast, Price & News

Cadence Design Systems MarketRank™ Forecast

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

Environmental Sustainability

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Cadence Design Systems (NASDAQ:CDNS) Stock

CDNS Stock News Headlines

CDNS Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Social Links

Key Executives

Key Competitors

Insiders & Institutions

CDNS Stock - Frequently Asked Questions

Overall MarketRank^™