Cadence Design Systems
CDNS
Market cap $68.2B

250.47 USD

-2.68

1.06%

Updated Oct 22, 10:48 AM EDT

1 day

-1.06%

5 days

-7.49%

1 month

-8.61%

3 months

-12.75%

6 months

-12.12%

Year to date

-4.73%

1 year

4.40%

5 years

297.95%

About: Cadence Design Systems is a provider of electronic design automation software, intellectual property, and system design and analysis products. EDA software automates the chip design process, enhancing design accuracy, productivity, and complexity in a full-flow end-to-end solution. Cadence offers a portfolio of design IP, as well as system design and analysis products, which enable system-level analysis and verification solutions. Cadence's comprehensive portfolio is benefiting from a mutual convergence of semiconductor companies moving up-stack toward systems-like companies, and systems companies moving down-stack toward in-house semiconductor design. The resulting expansion in EDA customers, alongside secular digitalization of various end markets, benefits EDA vendors like Cadence.

Employees: 11,200

Information Technology Prepackaged Software

Funds holding %

of 6,740 funds

Analysts bullish %

of 8 analysts

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

27% more call options, than puts

Call options by funds: $537M | Put options by funds: $423M

22% more repeat investments, than reductions

Existing positions increased: 522 | Existing positions reduced: 428

12% more first-time investments, than exits

New positions opened: 137 | Existing positions closed: 122

1% more funds holding

Funds holding: 1,225 [Q1] → 1,240 (+15) [Q2]

0.74% more ownership

Funds ownership: 85.55% [Q1] → 86.28% (+0.74%) [Q2]

0% less capital invested

Capital invested by funds: $72.3B [Q1] → $72.3B (-$18.5M) [Q2]

12% less funds holding in top 10

Funds holding in top 10: 25 [Q1] → 22 (-3) [Q2]

See Fund Rankings

Research analyst outlook

8 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$225

10%

downside

Avg. target

$301

20%

upside

High target

$338

35%

upside

8 analyst ratings

5 positive

63%

2 neutral

25%

1 negative

13%

Mizuho Siti Panigrahi 57% 1-year accuracy 4 / 7 met price target	30%upside $325	Outperform Initiated	22 Oct 2024
Berenberg Nay Soe Naing 0 / 0 met price target	28%upside $320	Buy Initiated	15 Oct 2024
Rosenblatt Blair Abernethy 28% 1-year accuracy 7 / 25 met price target	12%upside $280	Neutral Maintained	7 Oct 2024
Oppenheimer Edward Yang 100% 1-year accuracy 2 / 2 met price target	10%downside $225	Underperform Initiated	25 Sept 2024
Rosenblatt Blair Abernethy 28% 1-year accuracy 7 / 25 met price target	12%upside $280	Neutral Maintained	6 Aug 2024