31 stories mentioning CDNSUpdated 2d ago
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Cadence Design Systems (CDNS) has an average rating of buy and mean price target of $380.90, according to analysts polled by FactSet.Price: $326.24, Change: $-10.45, Percent Change: -3.10%
US equity futures were mostly pointing lower on Tuesday as traders monitor developments on negotiations between the US and Iran and await the Federal Reserve's latest decision on interest rates, along with a fresh round of corporate earnings.The S&P 500 decreased 0.2% and the Nasdaq declined 0.6%, while the Dow Jones Industrial Average inclined 0.3% in premarket activity. The Nasdaq and S&P 500 finished Monday trading with new closing highs for a second consecutive session, while the Dow ended in the red.White House Press Secretary Karoline Leavitt reportedly said Monday that President Donald Trump reviewed a new proposal from Iran to reopen the crucial Strait of Hormuz with national security officials, according to Bloomberg News. Trump has made his "red lines" extremely clear with respect to Iran and will address the matter "very soon," Leavitt said.Tehran recently submitted a proposal to reopen the Strait of Hormuz and delay talks on uranium enrichment, Axios reported, citing a US official and two other sources.West Texas Intermediate crude oil rose 3.5% to $99.73 a barrel before the opening bell, while Brent gained 2.8% to $111.28.The Fed's monetary policy committee is set to kick off its meeting on interest rates today, with a decision due tomorrow. Markets widely expect the central bank to keep its benchmark lending rate unchanged for a third consecutive meeting, according to the CME FedWatch tool.With the Federal Open Market Committee's decision unlikely to surprise, the market is expected to focus on the policy statement and post-meeting remarks of Chair Jerome Powell, said David Doyle, head of economics at Macquarie Group."Given that elevated oil prices have persisted for nearly two months now, future guidance may shift somewhat," he said in a Monday report e-mailed to. "This would be in contrast to March where there were limited changes made. Our view remains that the next policy move is likely to be a hike with the most likely timing in (the first half of 2027)."Treasury yields were trending upwards in premarket action, with the two-year rate advancing 1.9 basis points to 3.82% and the 10-year rate adding 1.8 basis points to 4.35%.Coca-Cola (KO), S&P Global (SPGI), Spotify Technology (SPOT), United Parcel Service (UPS), Sherwin-Williams (SHW), Hilton Worldwide (HLT) and General Motors (GM) are scheduled to release their latest financial results before the bell, among others. Visa (V), T-Mobile US (TMUS) and Starbucks (SBUX) post earnings after the markets close.Shares of Snap (SNAP) nudged down 0.2% pre-bell after the social media company finished the previous session with a 7.3% jump. Cadence Design Systems (CDNS) moved 0.4% lower as the computational software company announced its latest quarterly results. Oracle (ORCL) fell 5.5%.Tuesday's economic calendar has the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for February, at 9 am ET. The consumer confidence report for April is out at 10 am, along with the Richmond Fed manufacturing index for the same month.Gold dropped 1.4% to $4,626 per troy ounce, while bitcoin ticked down 0.2% to $76,604.
Cadence Design Systems (CDNS) lifted its full-year revenue outlook as the computational software company reported better-than-expected first-quarter results.The firm now anticipates revenue to come in between $6.13 billion and $6.23 billion for 2026, it said late Monday, up from its prior forecast of $5.9 billion to $6 billion. The current consensus on FactSet is for $6.17 billion. The stock edged up 0.5% in Tuesday's most recent premarket activity."With robust design activity and solid execution, we are raising our 2026 revenue outlook to 17% year-over-year growth," Chief Financial Officer John Wall said in a statement.Adjusted earnings are pegged to be in a range of $7.85 to $7.95 per share for the current year, down from the company's previous projections of $8.05 to $8.15. The Street is looking for non-GAAP EPS of $7.92.The revised earnings guidance includes the "acquired cost base, the financing impact, the acquisition-related integration costs and kind of near-term dilution," associated with the company's acquisition of Hexagon's design and engineering business, Wall told analysts during an earnings call, according to a FactSet transcript. The deal was completed in February.The company "paid 30% of the acquisition price in shares and 70% in cash," according to Wall. The lost interest income on cash causes a "lot of the dilution impact in the short-term," but the firm anticipates the transaction to be accretive in 2027, the CFO added.For the quarter ended March, the company's adjusted EPS climbed to $1.96 from $1.57 the year before, topping the average analyst estimate of $1.89. Revenue advanced to $1.47 billion from $1.24 billion, ahead of the Street's view for $1.45 billion.Product and maintenance revenue grew to $1.35 billion from about $1.11 billion in the prior-year quarter, while services declined to $125.3 million from $131.5 million."Cadence had a strong start to 2026, delivering a solid (first quarter) with accelerating (artificial intelligence) demand and record backlog, reflecting strong customer commitment to our AI-driven portfolio," Chief Executive Anirudh Devgan said. The company's backlog stood at $8 billion, while remaining performance obligations were $4 billion.For the ongoing three-month period, Cadence expects adjusted EPS of $2.02 to $2.08 on revenue of $1.56 billion to $1.6 billion. The Street is looking for non-GAAP EPS of $1.98 and sales of $1.55 billion for the second quarter.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:CDNS posted Q1 sales of $1.47B (+19% Y/Y), modestly beating consensus ($1.45B), with non-GAAP EPS of $1.96 (+25% Y/Y) also beating the Street ($1.89). Non-GAAP operating margin reached 44.7% (+300 bps Y/Y), above a guidance midpoint of 44.5%, while backlog set another record at $8.0B (+25% Y/Y, +3% Q/Q). IP again led sales growth, up 22% on robust AI spending and growing auto demand. Core EDA impressed with +18% Y/Y growth, accelerating from Q4's +8%, though SD&A remained flattish organically despite reported +18% growth (we estimate $38M of sales owing to the Hexagon D&E acquisition), results that continue to bring concerns about increased competition from SNPS/Ansys. FY 26 revenue guidance ($6.175B) was mostly unchanged ex-$280M or so from Hexagon, with non-GAAP EPS of $7.90 down from a prior $8.10 view given integration costs. We expect new agentic AI tools to boost margins and Core EDA sales growth, but product ramps are in their early stages. China sales remain resilient at 13% of revenue.
Cadence Design Systems (CDNS) reported Q1 adjusted earnings late Monday of $1.96 per diluted share, up from $1.57 a year earlier.Analysts polled by FactSet expected $1.88.Revenue for the three months ended March 31 was $1.47 billion, up from $1.24 billion a year earlier.Analysts surveyed by FactSet expected $1.45 billion.The company now expects full-year 2026 adjusted EPS of $7.85 to $7.95 on revenue of $6.13 billion to $6.23 billion. It earlier expected adjusted EPS of $8.05 to $8.15 on revenue of $5.9 billion to $6 billion.Analysts expect EPS of $7.87 on revenue of $6.13 billion.
GUIDANCE: (CDNS) Cadence Design Systems Expects Fiscal 2026 Revenue Range $6.125B-$6.225B, vs. FactSet Est of $6.13B
The benchmark US stock measures were mostly tracking in the red before the opening bell Monday as traders assess media speculation about Iran's new proposal to open the Strait of Hormuz.The S&P 500 and the Dow Jones Industrial Average declined 0.1% each in premarket activity, while the Nasdaq was up 0.1%. The Nasdaq and S&P 500 finished Friday's trading session with new closing highs, while the Dow was down.Iran has sent a new proposal to the US to reopen the crucial Strait of Hormuz, the world's most important chokepoint for crude flows, Axios reported, citing a US official and two sources with knowledge of the matter. The proposal reportedly includes postponing nuclear negotiations to a later stage.Shipment traffic through the Strait of Hormuz remains at a near-complete halt with Iran and the US imposing their respective blockades of maritime traffic, Bloomberg News reported Sunday.West Texas Intermediate crude oil rose 2.1% to $96.38 a barrel before the open, while Brent gained 2.3% to $107.77.President Donald Trump cancelled plans to send his representatives to Pakistan for negotiations with Iran, saying too much time has been "wasted on traveling.""We have all the cards, they have none!" Trump said in a social media post on Saturday. "If they want to talk, all they have to do is call!!!"Iranian Foreign Minister Seyed Abbas Araghchi travelled to Islamabad over the weekend to convey Tehran's "observations" to Pakistan's high-level officials, foreign ministry spokesman Esmaeil Baqaei said in a post on X. There was no meeting planned with the US, according to Baqaei.Trump last week extended a ceasefire with Iran, but maintained the naval blockade of Iranian ports.The personal income and outlays report for March is scheduled to be released on Thursday. The report includes the personal consumption expenditure core price index, the Federal Reserve's preferred inflation metric.US consumer sentiment improved from an initial April estimate, but remained at a record low as near-term inflation expectations logged the biggest monthly increase in a year, final University of Michigan survey results showed Friday.Monday's thin economic calendar has the Dallas Fed manufacturing survey for April at 10:30 am ET.Technology giants Alphabet (GOOG, GOOGL), Apple (AAPL), Microsoft (MSFT), Amazon (AMZN) and Meta Platforms (META) are slated to release their latest financial results later this week.Verizon Communications (VZ) and Domino's Pizza (DPZ) report their earnings before the bell, while Cadence Design Systems (CDNS) announces its financial statement after the markets close.Organon (OGN) shares climbed 16% pre-bell after the healthcare firm agreed to be acquired by India's Sun Pharmaceutical Industries in an all-cash deal worth about $11.75 billion. Qualcomm (QCOM) added 13% after finishing the previous trading session up 11%, while Nvidia (NVDA) increased 1%.Treasury yields were trending upwards in premarket action, with the two-year rate inclining 1.3 basis points to 3.79% and the 10-year rate moving 0.6 basis points higher to 4.32%.Gold slipped 0.5% to $4,718 per troy ounce, while bitcoin decreased 0.6% to $77,804.
Cadence Design Systems (CDNS) said Wednesday it has expanded its collaboration with Taiwan Semiconductor Manufacturing (TSM), or TSMC, to help customers design advanced artificial intelligence chips faster.Financial details weren't provided.The partnership will provide intellectual property, signoff-ready, end-to-end design infrastructure, and certified flows for AI silicon on TSMC's process technologies, leading to fewer design revisions and more time to tape out for customers.Shares of Cadence and TSMC were up 1.8% and 5%, respectively, in afternoon trading.Price: $331.59, Change: $+5.75, Percent Change: +1.76%
John M Wall, Senior Vice President & CFO, on April 16, 2026, sold 21,500 shares in Cadence Design Systems (CDNS) for $6,653,175. Following the Form 4 filing with the SEC, Wall has control over a total of 86,875 common shares of the company, with 86,875 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/813672/000081367226000041/xslF345X05/wk-form4_1776720828.xml
Cadence Design Systems (CDNS) has an average rating of Buy and mean price target of $373.33, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $312.51, Change: $+5.55, Percent Change: +1.81%
Cadence Design Systems (CDNS) said in separate press releases on Wednesday it expanded its partnership with Nvidia (NVDA) and entered a collaboration with Alphabet's (GOOG/GOOGL) Google.Cadence will work with Nvidia to deliver services covering agentic AI and physics-based simulation for productivity efficiencies and speeding up engineering flows across semiconductor design by combining its electronic design automation with Nvidia CUDA-X and Omniverse libraries, according to a statement.Nvidia will adopt Cadence's AgentStack in its chip design flows, and the companies will also focus on embedded agentic AI for the development of autonomous machines, the company stated.Cadence will collaborate with Google to optimize the Cadence ChipStack AI Super Agent with Gemini on Google Cloud to advance the transition to agentic design automation, according to the company.Cadence is tightening its integration between the Gemini-enabled super agent and Cadence EDA engines, while leveraging Google's infrastructure to deliver compute for Gemini's large-language model reasoning, the company added.Price: $302.86, Change: $+10.49, Percent Change: +3.59%
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