Cadence Design Systems - CDNS Stock Forecast, Price & News

11 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cadence Design Systems in the last twelve months. There are currently 3 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" CDNS shares.
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11 equities research analysts have issued 12-month target prices 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 5.7% from the stock's current price.
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Cadence Design Systems' stock was trading at $160.64 at the start of the year. Since then, CDNS stock has increased by 15.2% and is now trading at $185.03.
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The company is scheduled to release its next quarterly earnings announcement on Monday, February 13th 2023.
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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.

Cadence Design Systems, Inc. (NASDAQ:CDNS) released its earnings results 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 analysts' expectations of $741.84 million. Cadence Design Systems had a trailing twelve-month return on equity of 33.19% and a net margin of 22.86%. Cadence Design Systems's revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the company earned $0.58 EPS.
Read the conference call transcript.

Cadence Design Systems issued an update on its FY 2022 earnings guidance on Tuesday, November, 1st. The company provided earnings per share guidance of $4.20-$4.24 for the period, compared to the consensus estimate of $4.12. The company issued revenue guidance of $3.53 billion-$3.55 billion, compared to the consensus revenue estimate of $3.50 billion.

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 shareholders include 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%), Assenagon Asset Management S.A. (0.13%) and New York State Teachers Retirement System (0.12%). 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.
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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 $185.03.

Cadence Design Systems (NASDAQ:CDNS) has a market capitalization of $50.76 billion and generates $2.99 billion in revenue each year. The software maker earns $695.96 million in net income (profit) each year or $2.84 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.