Cadence Design Sys (NASDAQ:CDNS) Stock, Quote.Headers.trade-ideas

Cadence Design Sys

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.

Cadence Design Systems

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Cadence Design Systems reported its second-quarter financial results Monday. Here&#39;s a look at the key figures from the report.

Cadence Design Reports Q2 Results, Forward Guidance: Here&#39;s The Details

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Wall Street started the new week on a positive note, with all major indices in the green. A rebound in tech stocks following last week’s dips bolstered overall investor sentiment.

US Stocks Rebound As Tech Surges, CrowdStrike Continues Selloff, Oil Hits 1-Month Lows: What&#39;s Driving Markets Monday?

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The worst performers in the past week were LPL Financial, AMD, Domino&#39;s Pizza, ASML Holding, Charles Schwab, Vistra Corp, Super Micro Computer, Onto Innovation, Micron Technology, Lam Research, and Applied Materials.

AMD And Domino&#39;s Pizza Were Among 11 Worst Performers In Large Cap Space Last Week (July 14- July 20) - Are The Others In Your Portfolio?

Cadence Design Systems, Inc. - Common Stock

Cadence Design Systems Inc

Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) has outperformed the market over the past 15 years by 16.52% on an annualized basis producing an average annual return of 28.55%. Currently, Cadence Design Sys has a market capitalization of $73.31 billion. 
Buying $1000 In CDNS: If an investor had bought $1000 of CDNS stock 15 years ago, it would be worth $43,211.08 today based on a price of $269.09 for CDNS at the time of writing.
<h3>Cadence Design Sys's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721847613_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

$1000 Invested In Cadence Design Sys 15 Years Ago Would Be Worth This Much Today

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Shares of companies in the software sector are trading lower amid overall tech weakness following quarterly earnings from Alphabet.

Throughout the last three months, 7 analysts have evaluated Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>), offering a diverse set of opinions from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Cadence Design Sys, revealing an average target of $334.57, a high estimate of $355.00, and a low estimate of $318.00. This current average has increased by 1.78% from the previous average price target of $328.71. 
<img src="https://www.benzinga.com/files/images/story/2024/1721739669_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
The analysis of recent analyst actions sheds light on the perception of Cadence Design Sys by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Joe Vruwink</td>
<td>Baird</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$338.00</td>
<td>$341.00</td>
</tr>
<tr>
<td>Charles Shi</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$320.00</td>
<td>$320.00</td>
</tr>
<tr>
<td>Clarke Jeffries</td>
<td>Piper Sandler</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$318.00</td>
<td>$318.00</td>
</tr>
<tr>
<td>Joe Vruwink</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$341.00</td>
<td>$322.00</td>
</tr>
<tr>
<td>Jason Celino</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$355.00</td>
<td>$350.00</td>
</tr>
<tr>
<td>Vivek Arya</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$350.00</td>
<td>$330.00</td>
</tr>
<tr>
<td>Charles Shi</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$320.00</td>
<td>$320.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Cadence Design Sys. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Cadence Design Sys compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Cadence Design Sys's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
For valuable insights into Cadence Design Sys's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/CDNS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Cadence Design Sys analyst ratings.</a>
<h2>All You Need to Know About Cadence Design Sys</h2>
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.
<h3>Cadence Design Sys: A Financial Overview</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Decline in Revenue: Over the 3 months period, Cadence Design Sys faced challenges, resulting in a decline of approximately -1.23% in revenue growth as of 31 March, 2024. This signifies a reduction in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Net Margin: Cadence Design Sys's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 24.54% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Cadence Design Sys's ROE excels beyond industry benchmarks, reaching 7.1%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Cadence Design Sys's ROA stands out, surpassing industry averages. With an impressive ROA of 4.35%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: With a below-average debt-to-equity ratio of 0.18, Cadence Design Sys adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>What Are Analyst Ratings?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

What 7 Analyst Ratings Have To Say About Cadence Design Sys

Baird analyst Joe Vruwink maintains Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) with a Outperform and lowers the price target from $341 to $338.

Price Target

Baird Maintains Outperform on Cadence Design Sys, Lowers Price Target to $338

Needham analyst Charles Shi reiterates Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) with a Buy and maintains $320 price target.

Reiteration

Needham Reiterates Buy on Cadence Design Sys, Maintains $320 Price Target

Cadence Design Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) reported its second-quarter financial results Monday. Here's a look at the key <a href="https://www.benzinga.com/pressreleases/24/07/b39892837/cadence-reports-second-quarter-2024-financial-results">figures from the report.&nbsp;</a>
The Details: Cadence Design reported quarterly earnings of $1.28 per share which beat the analyst consensus estimate of $1.22 by 4.92%.
Quarterly sales came in at $1.061 billion which beat the analyst consensus estimate of $1.043 billion and represents an 8.64% increase over sales from the same period last year.
The company reported a quarter-end backlog of $6 billion and current remaining performance obligations (cRPO), contract revenue expected to be recognized as revenue in the next 12 months, of $3.1 billion.
&#8220;Cadence delivered strong results for the second quarter of 2024, with robust demand for our cutting-edge technologies from AI, hyperscale, and automotive customers,&#8221; said Anirudh Devgan, CEO of Cadence Design.
&#8220;I&#8217;m pleased with the strong momentum of our Cadence.AI portfolio and our next generation Z3 / X3 hardware systems, and am excited about the growing demand for our industry-leading products from an expanding foundry ecosystem.&#8221;
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Outlook:  Cadence Design sees third-quarter earnings of between $1.39 and $1.49 per share versus the $1.60 estimate, and revenue in a range of $1.165 billion to $1.195 billion versus the $1.19 billion analyst estimate. 
The company expects fiscal year 2024 earnings of between $5.77 and $5.97 per share, versus the $5.93 estimate, and revenue in a range of $4.6 billion to $4.66 billion, versus the $4.6 billion estimate.
CDNS Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Cadence Design Systems shares are down 1.04% after-hours at $284.10 at the time of publication Monday.
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Image: Gerd Altmann from Pixabay

Cadence Design Reports Q2 Results, Forward Guidance: Here's The Details

Guidance

Cadence Sees Q3 Adj. EPS $1.39-$1.49 vs $1.60 Est., Revenue $1.165B-$1.195B vs $1.19B Est.; Sees FY24 Adj. EPS $5.77-$5.97 vs $5.93 Est., Revenue $4.6B-$4.66B vs $4.6B Est.

Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) reported quarterly earnings of $1.28 per share which beat the analyst consensus estimate of $1.22 by 4.92 percent. The company reported quarterly sales of $1.061 billion which beat the analyst consensus estimate of $1.043 billion by 1.77 percent. This is a 8.64 percent increase over sales of $976.579 million the same period last year.

Earnings Beats

Cadence Design Sys Q2 2024 Adj EPS $1.28 Beats $1.22 Estimate, Sales $1.061B Beat $1.043B Estimate

Wall Street started the new week on a positive note, with all major indices in the green. A rebound in tech stocks following last week&#8217;s dips bolstered overall investor sentiment. Investors focused on the start of the tech earnings season, looking past President Joe Biden&#8216;s withdrawal<a href="https://www.benzinga.com/general/politics/24/07/39886916/harris-vs-trump-can-bidens-vp-defeat-former-president-head-to-head-polls-reveal-close-race"> from the reelection campaign.</a>
Semiconductor stocks, which plunged last week due to threats of increased curbs on China, rallied on Monday. The VanEck Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>) and the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) both rose by 2.5%.
The tech-heavy Nasdaq 100 index surged 1% by 12:40 p.m. in New York, poised to snap a three-day losing streak. The S&amp;P 500 edged up 0.7%, while blue-chip stocks in the Dow Jones took a breather. Small-cap stocks showed a 0.4% gain.
In the election arena, betting-implied odds of Kamala Harris winning the November election rose to 29% after Biden dropped his reelection campaign. 
Treasury yields increased, with the 30-year yield up 5 basis points to 4.5%, sending the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) down by 0.7%. The dollar remained steady.
In commodities, metals softened with gold, silver and copper down 0.4%, 0.5% and 1%, respectively. In energy, natural gas spiked by 7%, driven by Freeport LNG resuming shipments after Hurricane Beryl and expectations of higher cooling demand due to hot weather. Oil prices, tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), fell 0.7%, with West Texas Intermediate (WTI) light crude on track to close at its lowest level in over a month.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) dropped 1.8%.
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,723.29</td>
<td>1.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,541.77</td>
<td>0.7%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,192.78</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,296.68</td>
<td>0.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:40 p.m. ET </figcaption></figure>
According to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071924&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.6% higher to $552.42.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;held steady at $402.80.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) rose 1.1% to $480.36.</li>
<li>Sector-wise, the Technological Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)&nbsp;outperformed, up by 1.6%, while the&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.5%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) tumbled 13% after plummeting over 11% Friday, after the cybersecurity company was downgraded by several investment banks, including Scotiabank, Guggenheim and BTIG, coupled with trimmed price target cuts.</li>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surged 3.8% after Reuters reported Monday the chipmaker is developing a version of its new flagship Blackwell AI chip tailored for the Chinese market, ensuring it complies with U.S. export controls.</li>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) fell 6.4% in reaction to quarterly results that showed earnings broadly matching expectations but a miss on the revenue front. </li>
<li>Other stocks reacting to company earnings were Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), up 2.9% and IQVIA Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IQV#NYSE">IQV</a>), up 6.2%. </li>
<li>Mattel Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) rallied over 19% following reports of an acquisition offer by L Catterton.</li>
<li>Companies expected to report earnings after the close include Cadence Design Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>), NXP Semiconductors NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>), Brown &amp; Brown Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRO#NYSE">BRO</a>) and W.R. Berkley Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRB#NYSE">WRB</a>). </li>
</ul>
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Photo via Shutterstock.

US Stocks Rebound As Tech Surges, CrowdStrike Continues Selloff, Oil Hits 1-Month Lows: What's Driving Markets Monday?

These eleven large-cap stocks were the worst performers in the last week. Are they in your portfolio?
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<li>LPL Financial Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>) shares tumbled 20.16%. The company announced that financial advisor Alex Williams, CFP, has joined its broker-dealer, RIA, and custodial platforms to launch a <a href="https://www.benzinga.com//node/39837738" target="_blank" rel="noreferrer noopener">new independent practice, Stable Wealth</a>.</li>
<li>Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) stock decreased 17.82%. Shares of semiconductor and hardware stocks are trading lower amid a selloff in the sector, which has gained <a href="https://www.benzinga.com//node/39842530" target="_blank" rel="noreferrer noopener">this year amid AI momentum</a>.</li>
<li>Domino&#8217;s Pizza Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) stock dived 17.78% after the company <a href="https://www.benzinga.com//node/39834307" target="_blank" rel="noreferrer noopener">reported mixed Q2 results</a>. Several analysts cut the price <a href="https://www.benzinga.com/quote/dpz/analyst-ratings" target="_blank" rel="noreferrer noopener">target on the stock</a>.</li>
<li>ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) shares were down 17.64% <a href="https://www.benzinga.com//node/39808860" target="_blank" rel="noreferrer noopener">following soft Q3 guidance</a>.</li>
<li>Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) shares plummeted 17.07%  after the company reported <a href="https://www.benzinga.com//node/39793390" target="_blank" rel="noreferrer noopener">second-quarter 2024 results</a>. Several analysts <a href="https://www.benzinga.com//node/39819032" target="_blank" rel="noreferrer noopener">cut their estimates on the stock</a>.</li>
<li>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) stock was down 15.38%.</li>
<li>Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) stock lost 15.24% last week amid reports President Biden is considering further China restrictions.</li>
<li>Onto Innovation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONTO#NYSE">ONTO</a>) shares decreased 15.22%.</li>
<li>Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) stock fell 14.64% amid reports Biden is considering further China restrictions. The semiconductor sector was also down <a href="https://www.benzinga.com//node/39808860" target="_blank" rel="noreferrer noopener">following soft Q3 guidance</a> from ASML.</li>
<li>Lam Research Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) stock declined 14.14% amid reports Biden is considering further China restrictions. The semiconductor sector was also down <a href="https://www.benzinga.com//node/39808860" target="_blank" rel="noreferrer noopener">following soft Q3 guidance</a> from ASML.</li>
<li>Applied Materials, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) stock fell 14.01%. Shares of several semiconductor stocks are trading lower amid reports President Biden is considering further China restrictions and following Republican nominee Donald Trump&#8217;s comments regarding the China-Taiwan <a href="https://www.benzinga.com//node/39819145" target="_blank" rel="noreferrer noopener">standoff in an interview</a>.</li>
</ol>
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/07/39873480/warner-bros-discovery-coinbase-are-among-10-large-cap-stocks-that-shined-most-last-week-july-14-ju" target="_blank" rel="noreferrer noopener">Warner Bros. Discovery &amp; Coinbase Are Among 10 Large Cap Stocks That Shined Most Last Week (July 14-July 20): Are The Others In Your Portfolio?</a></li>
</ul>
Photo courtesy of AMD

AMD And Domino's Pizza Were Among 11 Worst Performers In Large Cap Space Last Week (July 14- July 20) - Are The Others In Your Portfolio?

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Shares of companies within the broader technology sector are trading lower amid a selloff in chips and AI-related stocks.

Cadence Design Systems (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdns#NASDAQ">CDNS</a>) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock&#39;s performance in the near term.
Over the past month, shares of this maker of hardware and software products for validating chip designs have returned -2%, compared to the Zacks S&amp;P 500 composite&#39;s +3.8% change. During this period, the Zacks Computer - Software industry, which Cadence falls in, has gained 1%. The key question now is: What could be the stock&#39;s future direction?
Although media reports or rumors about a significant change in a company&#39;s business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Revisions to Earnings Estimates
Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company&#39;s earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock&#39;s fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
For the current quarter, Cadence is expected to post earnings of $1.23 per share, indicating a change of +0.8% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
For the current fiscal year, the consensus earnings estimate of $5.93 points to a change of +15.2% from the prior year. Over the last 30 days, this estimate has remained unchanged.
For the next fiscal year, the consensus earnings estimate of $6.85 indicates a change of +15.4% from what Cadence is expected to report a year ago. Over the past month, the estimate has remained unchanged.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock&#39;s near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Cadence.
The chart below shows the evolution of the company&#39;s forward 12-month consensus EPS estimate:
12 Month EPS
<img alt="12-month consensus EPS estimate for CDNS _12MonthEPSChartUrl" class="chart" src="https://chart-service.zacks.com/images/weekly/yesop_12_month_eps/CDNS.png" style="height:auto; width:100%" title="" />
Projected Revenue Growth
While earnings growth is arguably the most superior indicator of a company&#39;s financial health, nothing happens as such if a business isn&#39;t able to grow its revenues. After all, it&#39;s nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it&#39;s important to know a company&#39;s potential revenue growth.
In the case of Cadence, the consensus sales estimate of $1.05 billion for the current quarter points to a year-over-year change of +7.4%. The $4.59 billion and $5.19 billion estimates for the current and next fiscal years indicate changes of +12.1% and +13.1%, respectively.
Last Reported Results and Surprise History
Cadence reported revenues of $1.01 billion in the last reported quarter, representing a year-over-year change of -1.2%. EPS of $1.17 for the same period compares with $1.29 a year ago.
Compared to the Zacks Consensus Estimate of $1.01 billion, the reported revenues represent a surprise of -0.49%. The EPS surprise was +3.54%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates three times over this period.
Valuation
No investment decision can be efficient without considering a stock&#39;s valuation. Whether a stock&#39;s current price rightly reflects the intrinsic value of the underlying business and the company&#39;s growth prospects is an essential determinant of its future price performance.
Comparing the current value of a company&#39;s valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Cadence is graded D on this front, indicating that it is trading at a premium to its peers.
Bottom Line
The facts discussed here and much other information on Zacks.com might help determine whether or not it&#39;s worthwhile paying attention to the market buzz about Cadence. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
<a href="https://www.zacks.com/stock/news/2302351/cadence-design-systems-inc-cdns-is-attracting-investor-attention-here-is-what-you-should-know?cid=CS-BENZ-FT-tale_of_the_tape|most_searched_stocks_v1-2302351">To read this article on Zacks.com click here.</a>

Cadence Design Systems, Inc. is Attracting Investor Attention: Here is What You Should Know

Piper Sandler analyst Clarke Jeffries maintains Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) with a Neutral and maintains $318 price target.

Piper Sandler Maintains Neutral on Cadence Design Sys, Maintains $318 Price Target

Cadence Design Sys's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NYSE">CDNS</a>) short percent of float has risen 8.97% since its last report. The company recently reported that it has 3.82 million shares sold short, which is 1.58% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.73 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Cadence Design Sys Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720556111_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Cadence Design Sys has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Cadence Design Sys's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Cadence Design Sys's peer group average for short interest as a percentage of float is 3.88%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Cadence Design Sys's Recent Short Interest

Micron Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mu#NASDAQ">MU</a>), a stalwart in the semiconductor industry, has demonstrated resilience amid market volatility, rewarding investors with substantial returns. The Boise, ID-based memory chip maker has significantly outperformed the tech sector and the broader S&amp;P 500 index in the year-to-date (YTD) period.
Micron&#39;s robust performance can be attributed to its sustained focus on enhancing its product portfolio through innovations, continuous deal wins and an improving demand-supply environment for memory chips. These factors have driven impressive sales growth and bolstered investor confidence.
Micron&#39;s stock has surged 53.1% YTD, surpassing the Zacks Computer and Technology sector&#39;s 29.6% rise and the S&amp;P 500 index&#39;s 17.6% increase. Closing at $130.69 as of Jul 8, shy of its 52-week high of $157.54 reached on Jun 18, 2024, the stock shows potential for further upward movement.
Let&#39;s decode what factors could drive MU stock further.
<h3>YTD Stock Performance</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/a7/70714.jpg?v=957186096" style="height:237px; width:610px" /> 
Image Source: Zacks Investment Research
<h3>Positive Industry Trends</h3>
Micron&#39;s memory chips play a crucial role in GPU-enabled artificial intelligence servers, which are currently in high demand. The growing integration of generative AI and large language models in data centers is driving the necessity for advanced memory solutions. Given memory&#39;s vital importance for AI operations, Micron stands to benefit significantly from this trend.
In recent quarters, the memory chip industry has achieved a better balance between supply and demand. Micron previously faced difficulties due to customer inventory adjustments across various markets. However, there has been a recent improvement in this balance, leading to increased pricing for Micron&#39;s Dynamic Random Access Memory (&quot;DRAM&quot;) and NAND products. This positive trend is expected to continue, bolstering Micron&#39;s financial performance in the near term.
<h3>Portfolio Strength Aids in Winning Deals</h3>
Micron boasts a comprehensive product lineup tailored for PCs, servers and the smartphone sector, encompassing both DRAM and NAND offerings. DRAM chips are essential components in PCs and servers, while NAND flash chips are crucial for smartphones and solid-state drives.
Micron&#39;s diversified product portfolio and consistent focus on innovation enable it to secure new deals. Its recently launched next-generation GDDR7 graphics memory, which offers the highest bit density in the industry, is currently being tested by Advanced Micro Devices, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) and Cadence Design Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdns#NASDAQ">CDNS</a>).
Advanced Micro Devices plans to use GDDR7 graphics memory to create more responsive and realistic games. Cadence Design Systems will utilize GDDR7 to test and validate its GDDR7 PHY IP, continuing its tradition of building IPs with Micron.
Additionally, Micron is providing its high-bandwidth memory, HBM3E, for NVIDIA Corporation&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) latest AI chip. NVIDIA is expected to use HBM3E to develop its H200 graphic processing units, which will replace the existing H100 chip. Micron previously announced that its HBM chips were sold out for 2024, with a significant portion of the 2025 supply already allocated.
<h3>Strong Performance and Impressive Prospects</h3>
Micron has been recovering from the financial difficulties experienced in late 2022 and early 2023. This improvement is evident from the company&#39;s financial results in the last few quarters. Its non-GAAP earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 73.2%.
<div class="chart_embed">
<h3>Micron Technology, Inc. Price, Consensus and EPS Surprise</h3>
<img alt="Micron Technology, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/64/1720520907.png" style="height:274px; width:610px" title="" />
Micron Technology, Inc. price-consensus-eps-surprise-chart | Micron Technology, Inc. Quote
</div>
In the last reported results for the third quarter of fiscal 2024, Micron&#39;s top and bottom lines both surpassed the consensus mark and witnessed significant year-over-year improvement as well.
The Zacks Consensus Estimate for fiscal 2025 revenues is pegged at $38.63 billion, which indicates year-over-year growth of approximately 55%. The consensus estimate for fiscal 2025 earnings is pegged at $9.32, which suggests a more than eightfold increase from the fiscal 2024 forecast of $1.16.
<h3>Estimate Revision Favoring the Stock</h3>
Reflecting the positive sentiment around Micron, the Zacks Consensus Estimate for earnings per share has seen upward revisions. Over the past 30 days, analysts have increased their estimates for both the current and next fiscal year. The earnings estimate for fiscal 2024 has been raised by 26% to $1.16 per share, while fiscal 2025 estimates have been revised upward by 15.3% to $9.32.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b9/70715.jpg?v=736583657" /> 
Image Source: Zacks Investment Research
<h3>Conclusion</h3>
In conclusion, Micron Technology is a must-have in any tech portfolio. Its vital role in the tech ecosystem and relentless focus on innovation makes it a compelling investment. As technological advancements spur the demand for high-performance memory and storage solutions, Micron stands to gain significantly.
Micron&#39;s financial stability further enhances its investment appeal. The company has substantial cash reserves, which provide a cushion against market fluctuations. At the end of the third quarter of fiscal 2024, Micron had $9.22 billion in cash and cash equivalents, with total liquidity reaching $11.7 billion. This robust financial standing enables Micron to continue investing in research and development, driving future innovation and growth.
MU has a Zacks Rank #2 (Buy) and a Growth Score of B at present. Per Zacks&#39; proprietary methodology, stocks with a combination of a Zacks Rank #1 (Strong Buy) or 2 and a Growth Score of A or B offer solid investment opportunities.
<a href="https://www.zacks.com/stock/news/2298474/micron-mu-up-53-ytd-is-it-too-late-to-buy-the-stock-now?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2298474">To read this article on Zacks.com click here.</a>

Micron Up 53% YTD: Is It Too Late to Buy the Stock Now?

Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) has outperformed the market over the past 15 years by 18.28% on an annualized basis producing an average annual return of 31.26%. Currently, Cadence Design Sys has a market capitalization of $86.54 billion. 
Buying $1000 In CDNS: If an investor had bought $1000 of CDNS stock 15 years ago, it would be worth $60,163.83 today based on a price of $317.69 for CDNS at the time of writing.
<h3>Cadence Design Sys's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720017018_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Cadence Design Sys Stock In The Last 15 Years

Baird analyst Joe Vruwink maintains Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) with a Outperform and raises the price target from $322 to $341.

Baird Maintains Outperform on Cadence Design Sys, Raises Price Target to $341

Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) underwent analysis by 12 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Cadence Design Sys and provided 12-month price targets. The average target is $327.58, accompanied by a high estimate of $355.00 and a low estimate of $280.00. This upward trend is apparent, with the current average reflecting a 2.27% increase from the previous average price target of $320.30.
<img src="https://www.benzinga.com/files/images/story/2024/1719489697_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Cadence Design Sys. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jason Celino</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$355.00</td>
<td>$350.00</td>
</tr>
<tr>
<td>Vivek Arya</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$350.00</td>
<td>$330.00</td>
</tr>
<tr>
<td>Charles Shi</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$320.00</td>
<td>$320.00</td>
</tr>
<tr>
<td>Charles Shi</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$320.00</td>
<td>$320.00</td>
</tr>
<tr>
<td>Clarke Jeffries</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$318.00</td>
<td>$334.00</td>
</tr>
<tr>
<td>Blair Abernethy</td>
<td>Rosenblatt</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$280.00</td>
<td>$280.00</td>
</tr>
<tr>
<td>Joe Vruwink</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$322.00</td>
<td>$302.00</td>
</tr>
<tr>
<td>Charles Shi</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$320.00</td>
<td>-</td>
</tr>
<tr>
<td>Joe Vruwink</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$322.00</td>
<td>$302.00</td>
</tr>
<tr>
<td>Gary Mobley</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$350.00</td>
<td>$330.00</td>
</tr>
<tr>
<td>Jason Celino</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$340.00</td>
<td>$335.00</td>
</tr>
<tr>
<td>Clarke Jeffries</td>
<td>Piper Sandler</td>
<td>Announces</td>
<td>Neutral</td>
<td>$334.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Cadence Design Sys. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Cadence Design Sys compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Cadence Design Sys's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Cadence Design Sys's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/CDNS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Cadence Design Sys analyst ratings.</a>
<h2>About Cadence Design Sys</h2>
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.
<h3>Unraveling the Financial Story of Cadence Design Sys</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Growth: Cadence Design Sys's revenue growth over a period of 3 months has faced challenges. As of 31 March, 2024, the company experienced a revenue decline of approximately -1.23%. This indicates a decrease in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Cadence Design Sys's net margin is impressive, surpassing industry averages. With a net margin of 24.54%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Cadence Design Sys's ROE excels beyond industry benchmarks, reaching 7.1%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Cadence Design Sys's ROA excels beyond industry benchmarks, reaching 4.35%. This signifies efficient management of assets and strong financial health.
Debt Management: Cadence Design Sys's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.18.
<h2>What Are Analyst Ratings?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Demystifying Cadence Design Sys: Insights From 12 Analyst Reviews

Keybanc analyst Jason Celino maintains Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) with a Overweight and raises the price target from $350 to $355.

Keybanc Maintains Overweight on Cadence Design Sys, Raises Price Target to $355

Cadence Janus NoC enables design teams to achieve better PPA faster and with lower risk, freeing up valuable engineering resources for SoC differentiation
Cadence Design Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) today expanded its system IP portfolio with the addition of the Cadence&#xAE; Janus&#x2122; Network-on-Chip (NoC). As larger, more complex SoCs and disaggregated multi-chip systems proliferate to accommodate today's escalating compute demands, data delivery within and between silicon components has become increasingly challenging—impacting power, performance and area (PPA). The Cadence Janus NoC manages these simultaneous high-speed communications efficiently with minimal latency, enabling customers to achieve their PPA targets faster and with lower risk.

Cadence Expands System IP Portfolio With The Addition Of The Cadence Janus, Network On Chip, To Optimize Electronic System Connectivity

Earnings Summary: Cadence Design Systems beats Q2 estimates, sets pace for current quarter, FY

Cadence Design Systems, Inc. (CDNS) Q2 2024 Earnings Call Transcript

Cadence Design Systems: Accelerated Verification And Performance Should Support AI

KeyBanc analyst Jason Celino maintained a Buy rating on Cadence Design (CDNS – Research Report) today and set a price target of $355.00. The compan...

New Buy Rating for Cadence Design (CDNS), the Technology Giant

Piper Sandler analyst Clarke Jeffries maintained a Hold rating on Cadence Design (CDNS – Research Report) today and set a price target of $318.00. ...

Piper Sandler Keeps Their Hold Rating on Cadence Design (CDNS)

In a report released today, Ruben Roy from Stifel Nicolaus maintained a Buy rating on Cadence Design (CDNS – Research Report), with a price target ...

Stifel Nicolaus Sticks to Their Buy Rating for Cadence Design (CDNS)

Cadence Design Systems: Negatives Priced In For 3 Straight Quarters -- Time To Buy

Cadence continues to outperform in Q2 earnings, but guidance underwhelms

Analyst Gianmarco Conti of Deutsche Numis reiterated a Buy rating on Cadence Design (CDNS – Research Report), with a price target of $338.00. Gianm...

Bullish Outlook: Cadence Design Poised for Growth with Strong Performance and Strategic Acquisitions

There's a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Temenos (TMNSF – Research Report) and Cadence Design...

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