NASDAQ:CDNSCadence Design Systems Stock Price, Forecast & News

$92.96

+0.58 (+0.63 %)

(As of 06/3/2020 04:00 PM ET)

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Today's Range

$91.83

Now: $92.96▼

$93.30

50-Day Range

$71.55

MA: $82.12▼

$92.38

52-Week Range

$51.39

Now: $92.96▼

$93.30

Volume1.72 million shs

Average Volume2.22 million shs

Market Capitalization$26.04 billion

P/E Ratio26.26

Dividend YieldN/A

Beta1.1

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 simulation platform; Palladium Z1, an enterprise emulation platform; and Protium S1 field-programmable gate array prototyping platform. The company also provides digital IC design products, such as logic design products for chip planning, design, verification, and test technologies and services; physical implementation tools, including place and route, signal integrity, optimization, and multiple patterning preparation; and signoff products to signoff the design as ready for manufacture by a silicon foundry, as well as design for manufacturing products for use in the product development process. 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 interconnect design products to develop printed circuit boards and IC packages. Further, the company provides design intellectual property (IP) products consisting of pre-verified and customizable functional blocks to integrate into customer's ICs; and verification IP and memory models for use in system-level verification to model correct behavior of full systems interacting with their environments. Additionally, it offers services related to methodology, education, and hosted design solutions, as well as technical support and maintenance services. Cadence Design Systems, Inc. was founded in 1988 and is headquartered in San Jose, California.

Beat the Market (BTM) Rank^™

2.4 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 $86.36, Cadence Design Systems has a potential downside of 7.1% from its current price of $92.96.
Amount of Analyst Coverage
Cadence Design Systems has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

2.9 Community Rank

Outperform Votes
Cadence Design Systems has received 465 “outperform” votes. (Add your “outperform” vote.)
Underperform Votes
Cadence Design Systems has received 348 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
Cadence Design Systems has received 57.20% “outperform” votes from our community.

MarketBeat's community ratings are surveys of what our community members think about Cadence Design Systems and other stocks. Vote “Outperform” if you believe CDNS will outperform the S&P 500 over the long term. Vote “Underperform” if you believe CDNS will underperform the S&P 500 over the long term. You may vote once every thirty days.

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.

1.0 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 $18,236,196.00 in company stock.
Percentage Held by Insiders
Only 2.58% of the stock of Cadence Design Systems is held by insiders.
Percentage Held by Institutions
87.02% 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.

1.3 Earnings and Valuation

Earnings Growth
Earnings for Cadence Design Systems are expected to grow by 11.80% in the coming year, from $1.61 to $1.80 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Cadence Design Systems is 26.26, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 16.10.
Price to Earnings Ratio vs. Sector
The P/E ratio of Cadence Design Systems is 26.26, 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 41.30.
Price to Earnings Growth Ratio
Cadence Design Systems has a PEG Ratio of 4.57. 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 12.38. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Overall Beat the Market Rank^™

1.50 out of 5 stars

Industry, Sector and Symbol

Stock Exchange NASDAQ

Industry Prepackaged software

Sub-IndustryApplication Software

SectorComputer and Technology

Current SymbolNASDAQ:CDNS

Previous Symbol

CUSIP12738710

CIK813672

Webwww.cadence.com

Phone408-943-1234

Debt

Debt-to-Equity Ratio0.16

Current Ratio1.38

Quick Ratio1.32

Price-To-Earnings

Trailing P/E Ratio26.26

Forward P/E Ratio57.74

P/E Growth4.57

Sales & Book Value

Annual Sales$2.34 billion

Price / Sales11.15

Cash Flow$4.03 per share

Price / Cash Flow23.06

Book Value$7.51 per share

Price / Book12.38

Profitability

EPS (Most Recent Fiscal Year)$3.53

Net Income$988.98 million

Net Margins41.74%

Return on Equity55.35%

Return on Assets32.01%

Miscellaneous

Employees8,100

Outstanding Shares280,168,000

Market Cap$26.04 billion

Next Earnings Date7/27/2020 (Estimated)

OptionableOptionable

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Cadence Design Systems (NASDAQ:CDNS) Frequently Asked Questions

How has Cadence Design Systems' stock been impacted by COVID-19 (Coronavirus)?

Cadence Design Systems' stock was trading at $62.21 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization (WHO). Since then, CDNS shares have increased by 49.4% and is now trading at $92.96. View which stocks have been most impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of Cadence Design Systems?

11 Wall Street 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, resulting in a consensus recommendation of "Buy." View analyst ratings for Cadence Design Systems.

When is Cadence Design Systems' next earnings date?

Cadence Design Systems is scheduled to release its next quarterly earnings announcement on Monday, July 27th 2020. View our earnings forecast for Cadence Design Systems.

How were Cadence Design Systems' earnings last quarter?

Cadence Design Systems Inc (NASDAQ:CDNS) released its quarterly earnings results on Monday, April, 20th. The software maker reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.54 by $0.06. The software maker had revenue of $618 million for the quarter, compared to analyst estimates of $613.34 million. Cadence Design Systems had a return on equity of 55.35% and a net margin of 41.74%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. View Cadence Design Systems' earnings history.

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

Cadence Design Systems issued an update on its FY20 earnings guidance on Monday, April, 20th. The company provided EPS guidance of $2.40-$2.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.41. The company issued revenue guidance of $2.545-$2.585 billion, compared to the consensus revenue estimate of $2.55 billion.

What price target have analysts set for CDNS?

11 Wall Street analysts have issued 1-year target prices for Cadence Design Systems' shares. Their forecasts range from $75.00 to $100.00. On average, they anticipate Cadence Design Systems' share price to reach $86.36 in the next year. This suggests that the stock has a possible downside of 7.1%. View analysts' price targets for Cadence Design Systems.

Has Cadence Design Systems been receiving favorable news coverage?

Media headlines about CDNS stock have trended very negative recently, InfoTrie Sentiment Analysis reports. The research firm identifies negative and positive press coverage by reviewing more than six thousand news and blog sources in real time. The firm ranks coverage of public companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Cadence Design Systems earned a coverage optimism score of -3.1 on InfoTrie's scale. They also gave news coverage about the software maker a news buzz of 10.0 out of 10, indicating that recent press coverage is extremely likely to have an impact on the company's share price in the next few days. View the latest news aboutCadence Design Systems.

Are investors shorting Cadence Design Systems?

Cadence Design Systems saw a drop in short interest in the month of May. As of May 15th, there was short interest totaling 4,530,000 shares, a drop of 12.5% from the April 30th total of 5,180,000 shares. Based on an average daily trading volume, of 2,580,000 shares, the short-interest ratio is presently 1.8 days. Approximately 1.7% of the shares of the stock are sold short. View Cadence Design Systems' Current Options Chain.

Who are some of Cadence Design Systems' key competitors?

Some companies that are related to Cadence Design Systems include Adobe (ADBE), salesforce.com (CRM), Intuit (INTU), Autodesk (ADSK), Workday (WDAY), Splunk (SPLK), Synopsys (SNPS), ANSYS (ANSS), Citrix Systems (CTXS), Tyler Technologies (TYL), SS&C Technologies (SSNC), Fair Isaac (FICO), FactSet Research Systems (FDS), Guidewire Software (GWRE) and Pegasystems (PEGA). View all competitors.

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), Alibaba Group (BABA), Adobe (ADBE), Cisco Systems (CSCO), Home Depot (HD), Intel (INTC), Advanced Micro Devices (AMD), Paypal (PYPL), salesforce.com (CRM) and Mastercard (MA).

Who are Cadence Design Systems' key executives?

Cadence Design Systems' management team includes the following people:

Mr. Lip-Bu Tan, CEO & Director (Age 59)
Mr. Anirudh Devgan, Pres (Age 49)
Mr. John M. Wall, Sr. VP & CFO (Age 48)
Mr. Aneel Zaman, Sr. VP of Worldwide Field Operations (Age 50)
Mr. Surendra Babu Mandava, Sr. VP of R&D and GM of IP Group (Age 60)

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 retail and institutional investors. Top institutional shareholders include BlackRock Inc. (10.57%), Massachusetts Financial Services Co. MA (9.48%), State Street Corp (4.41%), Parnassus Investments CA (3.16%), Geode Capital Management LLC (1.96%) and Pictet Asset Management Ltd. (1.72%). Company insiders that own Cadence Design Systems 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, Roger S Siboni, Surendra Babu Mandava and Thomas P Beckley. View institutional ownership trends for Cadence Design Systems.

Which institutional investors are selling Cadence Design Systems stock?

CDNS stock was sold by a variety of institutional investors in the last quarter, including AQR Capital Management LLC, APG Asset Management N.V., AJO LP, APG Asset Management N.V., APG Asset Management N.V., Schroder Investment Management Group, First Trust Advisors LP, and Mackay Shields LLC. Company insiders that have sold Cadence Design Systems company stock in the last year include Aneel Zaman, Anirudh Devgan, Chin-Chi Teng, James J Cowie, John B Shoven, John M Wall, Lip Bu Tan, Mark Adams, Roger S Siboni, Surendra Babu Mandava, and Thomas P Beckley. View insider buying and selling activity for Cadence Design Systems.

Which institutional investors are buying Cadence Design Systems stock?

CDNS stock was bought by a variety of institutional investors in the last quarter, including BlackRock Inc., Massachusetts Financial Services Co. MA, Swedbank, Lone Pine Capital LLC, Pictet Asset Management Ltd., Fred Alger Management LLC, Bessemer Group Inc., and Ardevora Asset Management LLP. View insider buying and selling activity for Cadence Design Systems.

How do I buy shares of Cadence Design Systems?

Shares of CDNS can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

What is Cadence Design Systems' stock price today?

One share of CDNS stock can currently be purchased for approximately $92.96.

How big of a company is Cadence Design Systems?

Cadence Design Systems has a market capitalization of $26.04 billion and generates $2.34 billion in revenue each year. The software maker earns $988.98 million in net income (profit) each year or $3.53 on an earnings per share basis. Cadence Design Systems employs 8,100 workers across the globe.

What is Cadence Design Systems' official website?

The official website for Cadence Design Systems is www.cadence.com.

How can I contact Cadence Design Systems?

Cadence Design Systems' mailing address is 2655 SEELY AVENUE BLDG 5, SAN JOSE CA, 95134. The software maker can be reached via phone at 408-943-1234 or via email at [email protected]

This page was last updated on 6/3/2020 by MarketBeat.com Staff