What is Griffin Securities’ Forecast for CDNS Q4 Earnings?

Cadence Design Systems, Inc. (NASDAQ:CDNS) – Stock analysts at Griffin Securities raised their Q4 2024 earnings per share (EPS) estimates for shares of Cadence Design Systems in a note issued to investors on Tuesday, January 14th. Griffin Securities analyst J. Vleeschhouwer now forecasts that the software maker will post earnings per share of $1.49 for the quarter, up from their prior forecast of $1.48. The consensus estimate for Cadence Design Systems’ current full-year earnings is $4.75 per share.

Several other equities research analysts have also weighed in on the stock. Redburn Atlantic started coverage on shares of Cadence Design Systems in a research note on Monday, January 13th. They set a “buy” rating and a $350.00 price objective on the stock. Robert W. Baird increased their price target on Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Loop Capital initiated coverage on Cadence Design Systems in a research report on Monday, November 11th. They set a “buy” rating and a $360.00 price objective for the company. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Finally, Mizuho raised their target price on Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $329.50.

Cadence Design Systems Trading Up 2.2 %

Cadence Design Systems stock opened at $305.60 on Friday. Cadence Design Systems has a 1 year low of $241.29 and a 1 year high of $328.99. The firm’s 50-day moving average is $304.43 and its 200-day moving average is $285.37. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45. The company has a market cap of $83.81 billion, a P/E ratio of 80.21, a PEG ratio of 3.44 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.20. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period last year, the business posted $1.01 earnings per share.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $304.84, for a total transaction of $198,146.00. Following the sale, the vice president now owns 59,311 shares in the company, valued at approximately $18,080,365.24. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anirudh Devgan sold 93,151 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $310.00, for a total transaction of $28,876,810.00. Following the completion of the transaction, the chief executive officer now owns 55,874 shares of the company’s stock, valued at approximately $17,320,940. The trade was a 62.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 108,416 shares of company stock worth $33,528,267 in the last ninety days. 0.62% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cadence Design Systems

Several hedge funds have recently made changes to their positions in CDNS. Dimensional Fund Advisors LP lifted its holdings in shares of Cadence Design Systems by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 596,897 shares of the software maker’s stock valued at $183,705,000 after purchasing an additional 42,895 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in Cadence Design Systems by 8.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 38,519 shares of the software maker’s stock worth $11,854,000 after acquiring an additional 2,849 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Cadence Design Systems by 1.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 28,037 shares of the software maker’s stock worth $8,628,000 after acquiring an additional 536 shares during the period. Argent Trust Co grew its stake in Cadence Design Systems by 4.2% during the 2nd quarter. Argent Trust Co now owns 3,643 shares of the software maker’s stock valued at $1,121,000 after acquiring an additional 146 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Cadence Design Systems by 5.0% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,400 shares of the software maker’s stock valued at $1,354,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 84.85% 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.