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

Cadence Design Systems, Inc. (NASDAQ:CDNS) – Analysts at Griffin Securities increased their FY2025 earnings estimates for Cadence Design Systems in a report issued on Wednesday, October 9th. Griffin Securities analyst J. Vleeschhouwer now expects that the software maker will post earnings of $5.40 per share for the year, up from their previous forecast 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 released its earnings results 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 for the quarter, compared to analyst estimates of $1.04 billion. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. Cadence Design Systems’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 earnings per share.

Several other equities analysts have also weighed in on the stock. Robert W. Baird dropped their price objective on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a report on Tuesday, July 23rd. KeyCorp upped their price objective on shares of Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Oppenheimer assumed coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $320.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 23rd. Finally, Piper Sandler upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective on the stock in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $323.60.

Cadence Design Systems Price Performance

CDNS stock opened at $282.39 on Friday. The firm has a market cap of $76.93 billion, a price-to-earnings ratio of 73.54, a PEG ratio of 3.37 and a beta of 1.02. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.23. Cadence Design Systems has a 12-month low of $228.66 and a 12-month high of $328.99. The company’s fifty day simple moving average is $268.79 and its 200 day simple moving average is $286.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning grew its position in shares of Cadence Design Systems by 9.1% during the 3rd quarter. Creative Planning now owns 48,389 shares of the software maker’s stock valued at $13,115,000 after acquiring an additional 4,038 shares during the period. Procyon Advisors LLC lifted its stake in shares of Cadence Design Systems by 3.6% during the 3rd quarter. Procyon Advisors LLC now owns 1,655 shares of the software maker’s stock valued at $449,000 after buying an additional 58 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in shares of Cadence Design Systems by 52.8% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 472 shares of the software maker’s stock valued at $128,000 after buying an additional 163 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its stake in shares of Cadence Design Systems by 3.9% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 11,056 shares of the software maker’s stock valued at $2,997,000 after buying an additional 413 shares in the last quarter. Finally, CVA Family Office LLC lifted its stake in shares of Cadence Design Systems by 27.0% during the 3rd quarter. CVA Family Office LLC now owns 376 shares of the software maker’s stock valued at $102,000 after buying an additional 80 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $266.24, for a total value of $173,056.00. Following the completion of the sale, the vice president now directly owns 65,194 shares of the company’s stock, valued at approximately $17,357,250.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $275.98, for a total transaction of $413,970.00. Following the completion of the transaction, the director now directly owns 43,551 shares of the company’s stock, valued at $12,019,204.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paul Cunningham sold 650 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total transaction of $173,056.00. Following the transaction, the vice president now directly owns 65,194 shares of the company’s stock, valued at $17,357,250.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,347 shares of company stock valued at $7,774,637. Corporate insiders own 1.99% of the company’s stock.

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.