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Cadence Design Systems (CDNS)
NASDAQ:CDNS
Cadence Design (CDNS) Stock Price & Analysis
2,549 Followers
CDNS Stock Chart & Stats
Day’s Range$0 - $0
52-Week Range$217.77 - $328.99
Previous Close$282.99
Volume3.09M
Average Volume (3M)1.63M
Market Cap
$78.21B
Enterprise Value$77.85B
Total Cash (Recent Filing)$1.01B
Total Debt (Recent Filing)$649.06M
Price to Earnings (P/E)73.2
Beta1.44
Next Earnings
Oct 21, 2024EPS Estimate
$1.45Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)3.87
Shares Outstanding272,134,000
10 Day Avg. Volume1,773,919
30 Day Avg. Volume1,628,014
Standard Deviation0.08
R-Squared0.44
Alpha0.02
Financial Highlights & Ratios
Price to Book (P/B)56.57
Price to Sales (P/S)81.08
Price to Cash Flow (P/CF)79.60
P/FCF Ratio88.00
Enterprise Value/Market CapN/A
Enterprise Value/Revenue19.03
Enterprise Value/Gross Profit21.30
Enterprise Value/Ebitda53.15
Forecast
1Y Price Target
$341.00Price Target Upside28.03% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
Cadence Design News
Bulls Say, Bears Say
Bulls Say
Product InnovationThe company is seeing momentum with AI-enabled tools, including work GenAI solutions.
Revenue Growth2H24 upfront revenues expected to approach $550M vs. $292M YoY (up ~90% YoY), driving total revenues up 20%+ YoY in 2H24.
Strategic PartnershipsCDNS’ IP business delivered a fourth consecutive YoY growth in Q2, with further benefits in Q3/Q4 expected from the Intel Foundry partnership.
Bears Say
EarningsCadence reported a weaker than expected guide for Q3, particularly seen in the EPS.
Financial PerformanceInitial headlines on 2Q24 guidance and ~6% negative revenue variance driving after-hours response.
SalesHardware sales remain lumpy and should moderate into 2025 following a strong and weighted Q4.
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Ownership Overview
4.46% Insiders
28.76% Mutual Funds
26.20% Other Institutional Investors
40.59% Public Companies and Individual Investors
Risk Analysis
Main Risk Category
Finance & CorporateFinancial and accounting risks. Risks related to the execution of corporate activity and strategy
Website Traffic
Sorry, No Data AvailableThere is no website visitor data available for this stock.
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CDNS FAQ
What was Cadence Design Systems’s price range in the past 12 months?
Cadence Design Systems lowest stock price was $217.77 and its highest was $328.99 in the past 12 months.
What is Cadence Design Systems’s market cap?
Currently, no data Available
When is Cadence Design Systems’s upcoming earnings report date?
Cadence Design Systems’s upcoming earnings report date is Oct 21, 2024 which is in 88 days.
How were Cadence Design Systems’s earnings last quarter?
Cadence Design Systems released its earnings results on Jul 22, 2024. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.227 by $0.053.
Is Cadence Design Systems overvalued?
According to Wall Street analysts Cadence Design Systems’s price is currently Undervalued.
Does Cadence Design Systems pay dividends?
Cadence Design Systems does not currently pay dividends.
What is Cadence Design Systems’s EPS estimate?
Cadence Design Systems’s EPS estimate is $1.45.
How many shares outstanding does Cadence Design Systems have?
Cadence Design Systems has 272,423,000 shares outstanding.
What happened to Cadence Design Systems’s price movement after its last earnings report?
Cadence Design Systems reported an EPS of $1.28 in its last earnings report, beating expectations of $1.227. Following the earnings report the stock price went down -1.425%.
Which hedge fund is a major shareholder of Cadence Design Systems?
Among the largest hedge funds holding Cadence Design Systems’s share is Dodge & Cox. It holds Cadence Design Systems’s shares valued at 83M.
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Cadence Design Stock Smart Score
Unlock Smart Score
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Analyst Consensus
Strong Buy
Average Price Target:
$341.00 (28.03% Upside)
$341.00 (28.03% Upside)
Blogger Sentiment
Bullish
CDNS Sentiment 69%
Sector Average 69%
Sector Average 69%
Hedge Fund Trend
Decreased
By 333.2K Shares
Last Quarter.
Last Quarter.
Crowd Wisdom
Neutral
Last 7 Days <0.1%
Last 30 Days ▼ 0.2%
Last 30 Days ▼ 0.2%
News Sentiment
Very Bullish
Bullish news 100%
Bearish news 0%
Bearish news 0%
Technicals
SMA
Positive
20 days / 200 days
Momentum
16.52%
12-Months-Change
Fundamentals
Return on Equity
29.44%
Trailing 12-Months
Asset Growth
40.17%
Trailing 12-Months
Company Description
Cadence Design Systems
California-based Cadence Design Systems, Inc. is a multinational computational software company, founded in 1988 by the merger of SDA Systems and ECAD, Inc. The company designs and develops integrated circuits and electronic devices. Its products are used for various market applications including consumer, hyperscale computing, 5G communications, automotive, aerospace, industrial and health.
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CDNS Earnings Call
Q2 2024
0:00 / 0:00
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CDNS Revenue Breakdown
27.00% Digital IC Design and Signoff
27.00% Functional Verification, including Emulation and Prototyping Hardware
22.00% Custom IC Design and Simulation
12.00% IP
12.00% System Design and Analysis
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CDNS Stock 12 Month Forecast
Average Price Target
$341.00
▲(28.03% Upside)
Technical Analysis
Best Analysts Covering CDNS
1 Year
1 Year Success Rate
12/17 ratings generated profit
1 Year Average Return
+14.31%
assigned a buy rating 2 days ago
Copying Vivek Arya's trades and holding each position for 1 Year would result in 70.59% of your transactions generating a profit, with an average return of +14.31% per trade.
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