Cadence Design Systems (NASDAQ:CDNS) Stock Bumped Down to Hold by Wall Street Zen

Wall Street Zen lowered shares of Cadence Design Systems (NASDAQ:CDNS) from a buy rating to a hold rating in a report issued on Sunday,Wall Street Zen reports.

Several other equities analysts have also commented on CDNS. FBN Securities started coverage on Cadence Design Systems in a research note on Friday, September 11th. They issued an “outperform” rating and a $375.00 target price for the company. KeyCorp reissued an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Morgan Stanley restated an “overweight” rating and issued a $400.00 price target on shares of Cadence Design Systems in a report on Wednesday, July 29th. Citigroup upped their price objective on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $404.12.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $351.35 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.74 and a quick ratio of 1.53. The firm has a market cap of $96.76 billion, a PE ratio of 69.85, a P/E/G ratio of 3.77 and a beta of 1.13. The firm has a 50 day simple moving average of $317.93 and a 200-day simple moving average of $335.16. Cadence Design Systems has a 1-year low of $262.75 and a 1-year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.06. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. Cadence Design Systems’s revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 earnings per share. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. On average, equities analysts expect that Cadence Design Systems will post 6.4 EPS for the current year.

Insider Transactions at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $285.51, for a total value of $51,391.80. Following the transaction, the director directly owned 7,824 shares in the company, valued at $2,233,830.24. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of Cadence Design Systems stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $320.88, for a total value of $401,100.00. Following the completion of the transaction, the director directly owned 40,794 shares in the company, valued at $13,089,978.72. This represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 5,710 shares of company stock valued at $1,748,292. Corporate insiders own 0.49% of the company’s stock.

Institutional Trading of Cadence Design Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp increased its position in shares of Cadence Design Systems by 1.1% in the fourth quarter. State Street Corp now owns 12,603,368 shares of the software maker’s stock worth $3,939,561,000 after acquiring an additional 135,206 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Cadence Design Systems by 21.8% during the 2nd quarter. Van ECK Associates Corp now owns 4,889,765 shares of the software maker’s stock valued at $1,835,227,000 after acquiring an additional 874,392 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Cadence Design Systems by 1.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,385,655 shares of the software maker’s stock valued at $1,270,704,000 after acquiring an additional 48,937 shares in the last quarter. J. Stern & Co. LLP boosted its position in Cadence Design Systems by 10,159.3% during the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after purchasing an additional 2,924,470 shares during the period. Finally, Legal & General Group Plc purchased a new stake in Cadence Design Systems during the 2nd quarter worth $702,615,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

About Cadence Design Systems

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware, and semiconductor intellectual property. Its products help engineers design, verify, analyze, and manufacture complex semiconductor chips, printed circuit boards, and electronic systems.

The company’s offerings include digital and custom/analog integrated-circuit design tools, functional verification and emulation platforms, semiconductor intellectual property, and system analysis solutions.