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

Cadence Design Systems, Inc. (NASDAQ:CDNS) – Equities research analysts at Griffin Securities lifted their FY2025 earnings per share (EPS) estimates for Cadence Design Systems in a research note issued on Wednesday, October 9th. Griffin Securities analyst J. Vleeschhouwer now anticipates that the software maker will post earnings of $5.40 per share for the year, up from their prior estimate of $5.39. The consensus estimate for Cadence Design Systems’ current full-year earnings is $4.73 per share.

Other equities research analysts have also issued research reports about the company. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $280.00 price objective on shares of Cadence Design Systems in a report on Monday. Oppenheimer assumed coverage on Cadence Design Systems in a report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 23rd. Piper Sandler raised 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. Finally, KeyCorp lifted their price objective on Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $323.60.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $280.64 on Friday. 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 52-week low of $228.66 and a 52-week high of $328.99. The business’s 50-day moving average price is $267.73 and its 200 day moving average price is $286.68. The firm has a market cap of $76.84 billion, a P/E ratio of 72.52, a P/E/G ratio of 3.37 and a beta of 1.02.

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

Institutional Trading of Cadence Design Systems

Several institutional investors have recently made changes to their positions in the stock. Bartlett & CO. Wealth Management LLC purchased a new position in Cadence Design Systems in the 4th quarter valued at about $466,000. Groupama Asset Managment purchased a new position in Cadence Design Systems in the 4th quarter valued at about $16,062,000. Profund Advisors LLC boosted its position in Cadence Design Systems by 21.3% in the 4th quarter. Profund Advisors LLC now owns 26,390 shares of the software maker’s stock valued at $7,188,000 after buying an additional 4,641 shares during the last quarter. GLOBALT Investments LLC GA purchased a new position in Cadence Design Systems in the 4th quarter valued at about $5,603,000. Finally, V Square Quantitative Management LLC boosted its position in Cadence Design Systems by 132.3% in the 4th quarter. V Square Quantitative Management LLC now owns 7,646 shares of the software maker’s stock valued at $2,083,000 after buying an additional 4,355 shares during the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO John M. Wall sold 10,000 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the completion of the transaction, the chief financial officer now directly owns 38,654 shares in the company, valued at $10,278,485.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cadence Design Systems news, SVP Karna Nisewaner sold 1,213 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $279.49, for a total value of $339,021.37. Following the completion of the transaction, the senior vice president now directly owns 17,617 shares in the company, valued at approximately $4,923,775.33. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John M. Wall sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total value of $2,659,100.00. Following the completion of the transaction, the chief financial officer now owns 38,654 shares of the company’s stock, valued at $10,278,485.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,347 shares of company stock worth $7,774,637 in the last ninety days. 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.