Cadence Design SystemsCDNS
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
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
4% more repeat investments, than reductions
Existing positions increased: 465 | Existing positions reduced: 449
10% less call options, than puts
Call options by funds: $571M | Put options by funds: $633M
3.64% less ownership
Funds ownership: 87.72% [Q2] → 84.08% (-3.64%) [Q3]
6% less funds holding
Funds holding: 1,247 [Q2] → 1,169 (-78) [Q3]
16% less capital invested
Capital invested by funds: $73.5B [Q2] → $61.9B (-$11.5B) [Q3]
39% less first-time investments, than exits
New positions opened: 124 | Existing positions closed: 202
50% less funds holding in top 10
Funds holding in top 10: 22 [Q2] → 11 (-11) [Q3]
Research analyst outlook
8 Wall Street Analysts provided 1 year price targets over the past 3 months
8 analyst ratings
Loop Capital Gary Mobley 36% 1-year accuracy 5 / 14 met price target | 18%upside $360 | Buy Initiated | 11 Nov 2024 |
Rosenblatt Blair Abernethy 45% 1-year accuracy 19 / 42 met price target | 8%downside $280 | Neutral Maintained | 29 Oct 2024 |
Baird Joe Vruwink 54% 1-year accuracy 19 / 35 met price target | 12%upside $340 | Outperform Maintained | 29 Oct 2024 |
Needham Charles Shi 23% 1-year accuracy 14 / 61 met price target | 4%upside $315 | Buy Maintained | 29 Oct 2024 |
Mizuho Siti Panigrahi 77% 1-year accuracy 10 / 13 met price target | 7%upside $325 | Outperform Initiated | 22 Oct 2024 |
Financial journalist opinion
Based on 24 articles about CDNS published over the past 30 days
