Griffin Securities Equities Analysts Increase Earnings Estimates for Cadence Design Systems, Inc. (NASDAQ:CDNS)

Cadence Design Systems, Inc. (NASDAQ:CDNS) – Analysts at Griffin Securities upped their FY2025 earnings estimates for shares of Cadence Design Systems in a note issued to investors on Wednesday, October 9th. Griffin Securities analyst J. Vleeschhouwer now expects that the software maker will earn $5.40 per share for the year, up from their previous estimate of $5.39. The consensus estimate for Cadence Design Systems’ current full-year earnings is $4.73 per share.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 22nd. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $0.94 earnings per share.

Several other research analysts have also recently issued reports on CDNS. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 23rd. Oppenheimer began coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 target price for the company. KeyCorp raised their target price on shares of Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Robert W. Baird reduced their target price on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. Finally, Rosenblatt Securities restated a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a report on Monday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average target price of $323.60.

Cadence Design Systems Trading Up 0.4 %

Cadence Design Systems stock opened at $280.64 on Friday. The firm has a 50 day simple moving average of $267.73 and a 200-day simple moving average of $286.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32. The stock has a market capitalization of $76.84 billion, a PE ratio of 72.52, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02. Cadence Design Systems has a 12-month low of $228.66 and a 12-month high of $328.99.

Institutional Investors Weigh In On Cadence Design Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Cadence Design Systems by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 24,940,556 shares of the software maker’s stock worth $7,763,496,000 after buying an additional 437,101 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Cadence Design Systems by 6.9% during the 1st quarter. Jennison Associates LLC now owns 7,085,526 shares of the software maker’s stock valued at $2,205,582,000 after purchasing an additional 459,603 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Cadence Design Systems by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 2,509,136 shares of the software maker’s stock valued at $772,187,000 after purchasing an additional 43,654 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Cadence Design Systems by 10.5% during the 2nd quarter. Van ECK Associates Corp now owns 2,195,714 shares of the software maker’s stock valued at $675,731,000 after purchasing an additional 209,301 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Cadence Design Systems by 7.7% during the 1st quarter. Nordea Investment Management AB now owns 2,040,581 shares of the software maker’s stock valued at $636,172,000 after purchasing an additional 145,351 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In related news, VP Chin-Chi Teng sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $276.36, for a total value of $2,763,600.00. Following the completion of the sale, the vice president now owns 95,408 shares in the company, valued at approximately $26,366,954.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $314.57, for a total value of $471,855.00. Following the completion of the sale, the director now owns 46,551 shares in the company, valued at $14,643,548.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Chin-Chi Teng sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $276.36, for a total transaction of $2,763,600.00. Following the completion of the sale, the vice president now owns 95,408 shares of the company’s stock, valued at approximately $26,366,954.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,347 shares of company stock worth $7,774,637. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Company Profile

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.