Cadence Design Systems (NASDAQ:CDNS) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Cadence Design Systems (NASDAQ:CDNS) from a hold rating to a buy rating in a research note released on Monday morning,Wall Street Zen reports.

A number of other research firms also recently weighed in on CDNS. Benchmark reaffirmed a “buy” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Citigroup boosted their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Bank of America boosted their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. FBN Securities initiated coverage on shares of Cadence Design Systems in a research note on Friday, September 11th. They set an “outperform” rating and a $375.00 price objective for the company. Finally, Piper Sandler raised their price objective on Cadence Design Systems from $325.00 to $349.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $404.14.

Cadence Design Systems Price Performance

Shares of CDNS opened at $348.42 on Monday. The stock has a market capitalization of $95.95 billion, a P/E ratio of 69.27, a P/E/G ratio of 3.78 and a beta of 1.13. Cadence Design Systems has a twelve month low of $262.75 and a twelve month high of $416.69. The company has a 50 day moving average of $319.81 and a 200-day moving average of $337.89. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The firm’s revenue was up 24.2% compared to the same quarter last year. During the same period last year, the company 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. As a group, equities research analysts forecast that Cadence Design Systems will post 6.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Paul Scannell sold 280 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total value of $94,920.00. Following the completion of the sale, the vice president owned 31,720 shares of the company’s stock, valued at approximately $10,753,080. This represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $350.07, for a total value of $437,587.50. Following the completion of the sale, the director directly owned 39,544 shares of the company’s stock, valued at approximately $13,843,168.08. The trade was a 3.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 6,960 shares of company stock worth $2,185,879. 0.49% of the stock is currently owned by company insiders.

Institutional Trading of Cadence Design Systems

A number of large investors have recently added to or reduced their stakes in the company. Avalon Trust Co acquired a new stake in shares of Cadence Design Systems during the 2nd quarter valued at $30,000. Fiduciary Financial Advisors acquired a new position in Cadence Design Systems in the 2nd quarter worth about $31,000. University of Texas Texas AM Investment Management Co. acquired a new position in Cadence Design Systems in the 4th quarter worth about $28,000. Arlington Trust Co LLC increased its holdings in Cadence Design Systems by 154.3% in the 2nd quarter. Arlington Trust Co LLC now owns 89 shares of the software maker’s stock worth $33,000 after purchasing an additional 54 shares in the last quarter. Finally, Burkett Financial Services LLC bought a new position in Cadence Design Systems in the third quarter valued at about $30,000. 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.