Cadence Design Systems, Inc. (CDNS)

NASDAQ: CDNS · IEX Real-Time Price · USD
304.38
+3.80 (1.26%)
Feb 29, 2024, 4:00 PM EST - Market closed
1.26%
Market Cap 81.83B
Revenue (ttm) 4.09B
Net Income (ttm) 1.04B
Shares Out 272.24M
EPS (ttm) 3.82
PE Ratio 79.68
Forward PE 50.35
Dividend n/a
Ex-Dividend Date n/a
Volume 1,703,985
Open 302.50
Previous Close 300.58
Day's Range 299.86 - 305.79
52-Week Range 189.30 - 315.70
Beta 1.06
Analysts Strong Buy
Price Target 312.75 (+2.75%)
Earnings Date Apr 22, 2024

About CDNS

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. The company also provides digital IC design and sign off products, including ... [Read more]

Sector Technology
IPO Date Jun 10, 1987
Employees 11,200
Stock Exchange NASDAQ
Ticker Symbol CDNS
Full Company Profile

Financial Performance

In 2023, CDNS's revenue was $4.09 billion, an increase of 14.83% compared to the previous year's $3.56 billion. Earnings were $1.04 billion, an increase of 22.64%.

Financial Statements

Analyst Forecast

According to 9 analysts, the average rating for CDNS stock is "Strong Buy." The 12-month stock price forecast is $312.75, which is an increase of 2.75% from the latest price.

Price Target
$312.75
(2.75% upside)
Analyst Consensus: Strong Buy
Stock Forecasts

News

Cadence Expands Tensilica Vision Family with Radar Accelerator and New DSPs Optimized for Automotive Applications

SAN JOSE, Calif.--(BUSINESS WIRE)---- $CDNS--Cadence expanded its Tensilica IP portfolio to address the growing computational requirements associated with automotive sensor fusion applications.

1 day ago - Business Wire

Nvidia's AI Boom Spurs AMD, ARM, Super Micro, Palantir, and Many Other Stocks

CEO Jen-Hsun Huang said AI is “enabling a whole new industry.”

7 days ago - Barrons

Intel and Cadence Expand Partnership to Enable Best-in-Class SoC Design on Intel's Advanced Processes

SANTA CLARA, Calif. & SAN JOSE, Calif.--(BUSINESS WIRE)---- $CDNS--IFS and Cadence entered into a multiyear agreement to jointly develop customized IP, optimized design flows and techniques for Intel ...

9 days ago - Business Wire

Cramer's Stop Trading: Cadence Design Systems

CNBC's Jim Cramer explains why he is keeping an eye on shares of Cadence Design Systems.

16 days ago - CNBC Television

CDNS, ANET: Earnings Review

Cadence Design Systems (CDNS) falls after guiding below consensus for 1Q. Nicole Petallides and Kevin Green discuss these earnings along with Arista Networks' (ANET) earnings.

Other symbols: ANET
16 days ago - Schwab Network

Cadence Design expects lower first-quarter revenue as hardware sales normalize

Cadence Design Systems forecast a decline in revenue for the first quarter as its hardware sales were up against tough comparisons from a year earlier, where it ramped up shipments to clear order back...

17 days ago - Reuters

Cadence Reports Fourth Quarter and Fiscal Year 2023 Financial Results

SAN JOSE, Calif.--(BUSINESS WIRE)--Cadence Reports Fourth Quarter and Fiscal Year 2023 Financial Results.

17 days ago - Business Wire

Cadence Unveils Millennium Platform—Industry's First Accelerated Digital Twin Delivering Unprecedented Performance and Energy Efficiency

SAN JOSE, Calif.--(BUSINESS WIRE)---- $CDNS--The Cadence Millennium Platform is the industry's first hardware/software accelerated digital twin for multiphysics system design and analysis.

4 weeks ago - Business Wire

Cadence Significantly Advances ECAD/MCAD Convergence for Electronic Systems with New Celsius Studio AI Thermal Platform

SAN JOSE, Calif.--(BUSINESS WIRE)---- $CDNS--Cadence announced Celsius Studio, the industry's first complete AI thermal design and analysis solution for electronic systems.

4 weeks ago - Business Wire

Best Stocks to Buy Now

Our list of the best stocks to buy now reflect the lesson of the past few years: Be ready for anything.

Other symbols: DALDFSFANGKOPFETMOVMC
4 weeks ago - Kiplinger

Cadence Acquires Invecas to Accelerate System Realization

SAN JOSE, Calif.--(BUSINESS WIRE)--Cadence Design Systems, Inc. (Nasdaq: CDNS) announced today that it has acquired Invecas, Inc., a leading provider of design engineering, embedded software and syste...

7 weeks ago - Business Wire

Cadence Announces Fourth Quarter and Fiscal Year 2023 Financial Results Webcast

SAN JOSE, Calif.--(BUSINESS WIRE)---- $CDNS--Cadence Design Systems, Inc. (Nasdaq: CDNS) will hold its fourth quarter and fiscal year 2023 financial results webcast on Monday, February 12, 2024.

7 weeks ago - Business Wire

We've very bullish on semiconductors going into 2024, says BofA's Vivek Arya

Vivek Arya, Bank of America senior semiconductor analyst, joins 'Squawk Box' to discuss the state of the semiconductor industry, Micron's quarterly earnings results, industry outlook in 2024, and more...

2 months ago - CNBC Television

Cadence AI-Driven Multiphysics System Analysis Solution Enables Wistron to Dramatically Accelerate Product Development

SAN JOSE, Calif.--(BUSINESS WIRE)---- $CDNS--Wistron has adopted and deployed the new Cadence AI-driven electromagnetic (EM) in-design analysis workflow to design a complex 800G network switch.

2 months ago - Business Wire

Cadence Partners with Antiviral Discovery Consortium to Spearhead Rapid Development of Treatments for Viral Pandemics

SANTA FE, N.M.--(BUSINESS WIRE)---- $CDNS--Cadence Molecular Sciences (OpenEye) will provide molecular design software to power NIH-funded antiviral discovery consortium's research efforts.

3 months ago - Business Wire

'Ten-bagger' stocks are the 'holy grail': Strategist

As Wall Street weighs whether markets can sustain November's rally, investors are spotting opportunities. eToro Global Markets Strategist Ben Laidler joined Yahoo Finance Live to analyze high-growth "...

3 months ago - Yahoo Finance

The nucleus of the economy is the semiconductor chip, says Virtus Investment's Joe Terranova

Joe Terranova, Virtus Investment Partners chief market strategist, joins 'Power Lunch' to take on the growth versus value debate and offer his market outlook.

3 months ago - CNBC Television

Cadence's Anirudh Devgan to Present at Nasdaq Investor Conference

SAN JOSE, Calif.--(BUSINESS WIRE)--Cadence's Anirudh Devgan to Present at Nasdaq Investor Conference.

3 months ago - Business Wire

Cadence's Anirudh Devgan to Present at UBS Global Technology Conference

SAN JOSE, Calif.--(BUSINESS WIRE)--Cadence's Anirudh Devgan to Present at UBS Global Technology Conference.

3 months ago - Business Wire

These Quality Stocks Are Becoming A Deal For Long-Term Investors - Copart (NASDAQ:CPRT)

The stock market indices have been declining since August, along with most stocks. The sell-off has been accelerating in the latter part of October.

Other symbols: CPRTEXLSGOOGGOOGL
4 months ago - Benzinga

Cadence Expands Tensilica IP Portfolio with New HiFi and Vision DSPs for Pervasive Intelligence and Edge AI Inference

SAN JOSE, Calif.--(BUSINESS WIRE)---- $CDNS--Cadence expanded its Tensilica HiFi and Vision DSP families to address system-level performance and AI requirements with greater energy efficiency.

4 months ago - Business Wire

Cadence Design Systems' stock dips on disappointing guidance

Shares of Cadence Design Systems Inc. CDNS, +0.54%, a maker of electronic-design-automation software, dipped more than 4% Monday after it reported third-quarter earnings that beat Wall Street estimate...

4 months ago - Market Watch

Cadence Reports Third Quarter 2023 Financial Results

SAN JOSE, Calif.--(BUSINESS WIRE)--Cadence Reports Third Quarter 2023 Financial Results.

4 months ago - Business Wire

Cadence Wins Four 2023 TSMC OIP Partner of the Year Awards

SAN JOSE, Calif.--(BUSINESS WIRE)---- $CDNS--Cadence announced that it has won four Open Innovation Platform® (OIP) Partner of the Year awards from TSMC for its EDA and IP design solutions.

4 months ago - Business Wire

Cadence Collaborates with Broadcom to Implement AI-Driven Solutions with Impressive Quality of Results

SAN JOSE, Calif.--(BUSINESS WIRE)---- $CDNS--Cadence announced a collaboration with Broadcom Inc to implement new AI-driven design flows to accelerate delivery of innovative 3nm and 5nm designs.

4 months ago - Business Wire