CDNS stock icon

Cadence Design Systems
CDNS

$315.67
0.51%
 

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

0
Funds holding %
of 6,702 funds
0
Analysts bullish %
of 22 analysts
0
News positive %
of 13 articles

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

48% more first-time investments, than exits

New positions opened: 169 | Existing positions closed: 114

13% more capital invested

Capital invested by funds: $63B [Q4 2023] → $71.2B (+$8.25B) [Q1 2024]

5% more funds holding

Funds holding: 1,150 [Q4 2023] → 1,205 (+55) [Q1 2024]

10% more repeat investments, than reductions

Existing positions increased: 468 | Existing positions reduced: 427

6% more call options, than puts

Call options by funds: $528M | Put options by funds: $500M

0% more funds holding in top 10

Funds holding in top 10: 25 [Q4 2023] → 25 (+0) [Q1 2024]

0.77% less ownership

Funds ownership: 85.01% [Q4 2023] → 84.24% (-0.77%) [Q1 2024]

Research analyst outlook

22 Wall Street Analysts provided 1 year price forecasts over the past 6 months

Low target
$280
11%
downside
Avg. target
$328
4%
upside
High target
$355
12%
upside

22 analyst ratings

18 positive
82%
neutral
18%
negative
0%
Piper Sandler
Clarke Jeffries
1%upside
$318
Neutral
Maintained
10 Jul 2024
Baird
Joe Vruwink
8%upside
$341
Outperform
Maintained
2 Jul 2024
Keybanc
Jason Celino
12%upside
$355
Overweight
Maintained
27 Jun 2024
B of A Securities
Vivek Arya
11%upside
$350
Buy
Maintained
30 May 2024
Needham
Charles Shi
1%upside
$320
Buy
Reiterated
17 May 2024

Financial journalist opinion

Based on 13 articles about CDNS published over the past 30 days