Key Points
- Insider sale: VP Paul Scannell sold 5,490 shares on December 10 at an average price of $339.43 for roughly $1.86 million, cutting his stake by 21.27% to 20,321 shares valued at about $6.90 million.
- Solid recent results and guidance: Cadence beat Q3 estimates with $1.93 EPS on $1.34 billion revenue, issued FY2025 guidance of $7.02–7.08 EPS (Q4: $1.88–1.94), and has a market cap near $88 billion with a P/E of 83.3.
- Positive analyst and institutional backing: The stock carries a "Moderate Buy" consensus (15 Buys, 4 Holds) with an average price target of $379.11, and institutions own about 84.85% of the shares (notable holders include Vanguard and State Street).
Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) Director Ita Brennan sold 180 shares of the company's stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total value of $60,746.40. Following the transaction, the director directly owned 7,650 shares of the company's stock, valued at $2,581,722. The trade was a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Cadence Design Systems Price Performance
CDNS opened at $323.22 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. The stock has a market capitalization of $87.98 billion, a PE ratio of 83.30, a price-to-earnings-growth ratio of 4.31 and a beta of 1.05. The stock's 50 day moving average price is $326.91 and its 200-day moving average price is $330.28. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.14. The business had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 earnings per share. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 EPS. On average, equities research analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.
Hedge Funds Weigh In On Cadence Design Systems
Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Cadence Design Systems by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 26,923,317 shares of the software maker's stock valued at $9,457,084,000 after purchasing an additional 327,456 shares during the last quarter. State Street Corp lifted its stake in shares of Cadence Design Systems by 1.2% in the third quarter. State Street Corp now owns 12,468,162 shares of the software maker's stock worth $4,379,567,000 after buying an additional 149,577 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Cadence Design Systems by 3.0% during the second quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker's stock valued at $2,877,536,000 after buying an additional 273,149 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Cadence Design Systems by 1.2% during the second quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker's stock valued at $1,952,771,000 after acquiring an additional 77,478 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Cadence Design Systems by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker's stock valued at $1,866,739,000 after acquiring an additional 731,788 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
CDNS has been the subject of a number of research reports. Needham & Company LLC reissued a "buy" rating and issued a $390.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Wall Street Zen lowered Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Weiss Ratings restated a "hold (c+)" rating on shares of Cadence Design Systems in a research note on Monday. BNP Paribas initiated coverage on Cadence Design Systems in a research report on Thursday, October 2nd. They set an "outperform" rating and a $400.00 price target on the stock. Finally, Oppenheimer upgraded Cadence Design Systems from an "underperform" rating to a "market perform" rating and set a $275.00 price objective for the company in a report on Monday, December 1st. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $379.11.
View Our Latest Stock Report on CDNS
Cadence Design Systems Company Profile
(
Get Free Report)
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.
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