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NASDAQ:CDNS

Cadence Design Systems - CDNS Stock Forecast, Price & News

$190.73
-0.27 (-0.14%)
(As of 08/18/2022 05:26 PM ET)
Add
Compare
Today's Range
$190.41
$192.80
50-Day Range
$141.08
$193.09
52-Week Range
$132.32
$194.97
Volume
1.22 million shs
Average Volume
1.71 million shs
Market Capitalization
$52.24 billion
P/E Ratio
68.36
Dividend Yield
N/A
Price Target
$191.18

Cadence Design Systems MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.64 Rating Score
Upside/​Downside
0.2% Upside
$191.18 Price Target
Short Interest
Healthy
1.39% of Float Sold Short
Dividend Strength
N/A
Sustainability
-1.41
Upright™ Environmental Score
News Sentiment
0.34mentions of Cadence Design Systems in the last 14 days
Based on 19 Articles This Week
Insider Trading
Selling Shares
$78.70 M Sold Last Quarter
Proj. Earnings Growth
9.67%
From $3.31 to $3.63 Per Share

Overall MarketRank

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

1.96 out of 5 stars

Computer And Technology Sector

479th out of 660 stocks

Prepackaged Software Industry

170th out of 230 stocks

CDNS stock logo

About Cadence Design Systems (NASDAQ:CDNS) Stock

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.

Wall Street Analysts Forecast Growth

CDNS has been the subject of a number of analyst reports. KeyCorp raised their target price on shares of Cadence Design Systems from $205.00 to $215.00 and gave the company an "overweight" rating in a research report on Tuesday, April 26th. Wolfe Research assumed coverage on shares of Cadence Design Systems in a report on Tuesday. They issued an "outperform" rating and a $210.00 target price on the stock. Rosenblatt Securities upped their target price on Cadence Design Systems from $170.00 to $185.00 and gave the stock a "buy" rating in a research report on Tuesday, July 26th. UBS Group increased their target price on shares of Cadence Design Systems from $170.00 to $180.00 and gave the company a "neutral" rating in a report on Tuesday, April 26th. Finally, Bank of America raised Cadence Design Systems from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $160.00 to $175.00 in a report on Wednesday, June 29th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $191.18.

Cadence Design Systems Stock Performance

Shares of CDNS Stock opened at $191.00 on Thursday. 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 12 month low of $132.32 and a 12 month high of $194.97. The company has a market cap of $52.31 billion, a P/E ratio of 68.46, a PEG ratio of 3.28 and a beta of 1.15. The firm has a fifty day moving average price of $164.18 and a 200 day moving average price of $155.71.

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, beating the consensus estimate of $0.96 by $0.12. The company had revenue of $858.00 million for the quarter, compared to the consensus estimate of $835.01 million. Cadence Design Systems had a return on equity of 32.06% and a net margin of 23.61%. The company's revenue was up 17.9% on a year-over-year basis. During the same period last year, the business posted $0.71 EPS. Sell-side analysts predict that Cadence Design Systems will post 3.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cadence Design Systems news, CFO John M. Wall sold 54,943 shares of the firm's stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $179.88, for a total transaction of $9,883,146.84. Following the sale, the chief financial officer now directly owns 135,406 shares of the company's stock, valued at approximately $24,356,831.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO John M. Wall sold 54,943 shares of the firm's stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $179.88, for a total value of $9,883,146.84. Following the transaction, the chief financial officer now owns 135,406 shares of the company's stock, valued at approximately $24,356,831.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lip Bu Tan sold 40,000 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $143.77, for a total transaction of $5,750,800.00. Following the completion of the sale, the insider now directly owns 612,176 shares of the company's stock, valued at approximately $88,012,543.52. The disclosure for this sale can be found here. Insiders have sold 482,623 shares of company stock worth $78,704,650 in the last three months. Corporate insiders own 1.99% of the company's stock.

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CDNS Stock News Headlines

What 4 Analyst Ratings Have To Say About Cadence Design
I Am Buying Cadence Design And You Should Too
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CDNS Company Calendar

Last Earnings
7/25/2022
Today
8/18/2022
Next Earnings (Estimated)
10/24/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Prepackaged software
Sub-Industry
Application Software
Current Symbol
NASDAQ:CDNS
CUSIP
12738710
Employees
9,300
Year Founded
1988

Price Target and Rating

Average Stock Price Forecast
$191.18
High Stock Price Forecast
$215.00
Low Stock Price Forecast
$175.00
Forecasted Upside/Downside
+0.2%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.64
Research Coverage
11 Analysts

Profitability

Net Income
$695.96 million
Pretax Margin
29.40%

Debt

Sales & Book Value

Annual Sales
$2.99 billion
Cash Flow
$3.20 per share
Book Value
$9.59 per share

Miscellaneous

Free Float
268,420,000
Market Cap
$52.24 billion
Optionable
Optionable
Beta
1.15

Social Links


Key Executives

  • Mr. Lip-Bu TanMr. Lip-Bu Tan (Age 63)
    Exec. Chair of the Board
    Comp: $2.17M
  • Dr. Anirudh Devgan Ph.D. (Age 52)
    CEO, Pres & Director
    Comp: $1.74M
  • Mr. John M. WallMr. John M. Wall (Age 51)
    Sr. VP & CFO
    Comp: $1.3M
  • Mr. Thomas P. BeckleyMr. Thomas P. Beckley (Age 64)
    Sr. VP and GM of Custom IC & PCB Group
    Comp: $1.07M
  • Mr. Aneel ZamanMr. Aneel Zaman (Age 53)
    Sr. VP & Chief Revenue Officer
    Comp: $1.3M
  • Dr. Chin-Chi Teng Ph.D. (Age 56)
    Sr. VP and GM of the Digital & Signoff Group
    Comp: $1.09M
  • Mr. Ariel Sella
    Co-Founder
  • Mr. James Haddad
    Corp. VP of Corp. Fin. & Treasurer
  • Mr. Richard Gu
    VP of Investor Relations
  • Ms. Alinka Flaminia (Age 60)
    Sr. VP, Chief Legal Officer & Corp. Sec.













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 twelve months. There are currently 4 hold ratings and 7 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 2022?

11 brokers 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 expect the company's stock price to reach $191.18 in the next year. This suggests a possible upside of 0.1% 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 2022?

Cadence Design Systems' stock was trading at $186.35 on January 1st, 2022. Since then, CDNS shares have increased by 2.5% and is now trading at $191.00.
View the best growth stocks for 2022 here
.

When is Cadence Design Systems' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Monday, October 24th 2022.
View our CDNS earnings forecast
.

How were Cadence Design Systems' earnings last quarter?

Cadence Design Systems, Inc. (NASDAQ:CDNS) posted 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. The software maker earned $858 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 earnings per share.
Read the conference call transcript
.

What guidance has Cadence Design Systems issued on next quarter's earnings?

Cadence Design Systems updated its third quarter 2022 earnings guidance on Monday, August, 1st. The company provided EPS guidance of $0.94-$0.98 for the period, compared to the consensus EPS 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.

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 a variety of institutional and retail 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.
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 $191.00.

How much money does Cadence Design Systems make?

Cadence Design Systems (NASDAQ:CDNS) has a market capitalization of $52.31 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.

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
When was Cadence Design Systems founded?

Cadence Design Systems was founded in 1988.

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 8/18/2022 by MarketBeat.com Staff

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