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CDNS

Cadence Design

$52.65

0.09 (0.17%)

09:06
02/20/19
02/20
09:06
02/20/19
09:06

Cadence Design price target raised to $60 from $50 at Needham

Needham analyst Richard Valera raised his price target on Cadence Design to $60 and kept his Buy rating after its Q4 earnings beat and a "healthy" FY19 guidance that "solidly exceeded consensus". The analyst cites the management's view of continued investment in design tools by companies involved in AI/ML, cloud/datacenter, 4G, and auto technologies, many of which are facing near-term challenges. Valera also points to Cadence Design's China business staying robust and growing to 10% of 2018 revenue vs. 9% in 2017.

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    Mar

CDNS Cadence Design
$52.65

0.09 (0.17%)

10/23/18
10/23/18
UPGRADE
Target $51

Buy
Cadence Design upgraded to Buy after 'exceptional' report at Benchmark
As previously reported, Benchmark analyst Gary Mobley upgraded Cadence Design to Buy from Hold following its report of "much" better than expected Q3 results and Q4 guidance as well as the recent pullback in the stock of over 15%. While noting that overall semi sales are decelerating, Mobley said he expects Cadence to drive high-single-digit percentage revenue growth and low-double-digit percentage earnings growth. He set a $51 price target on Cadence shares.
10/23/18
10/23/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Viacom (VIA, VIAB) upgraded to In-Line from Underperform at Imperial Capital with analyst David Miller saying there is a "palpable rotation at work in the financial markets away from growth and into value within the Media sector." 2. Synopsys (SNPS) and Cadence Design (CDNS) were upgraded to Neutral from Underweight at JPMorgan. 3. Polaris Industries (PII) upgraded to Buy from Neutral at B. Riley FBR with analyst Eric Wold saying he views yesterday's Q3 results as "solid" and believes the recent stock pullback discounts the risk of tariffs. 4. AMD (AMD) upgraded to Equal Weight from Underweight at Barclays while NXP Semiconductors (NXPI) was upgraded to Overweight from Equal Weight. 5. Chipotle (CMG) upgraded to Buy from Hold at Maxim with analyst Stephen Anderson saying the company is in an "enviable position" given its nearly all-U.S. exposure and lack of interest rate risk. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/20/18
BREN
11/20/18
INITIATION
Target $50
BREN
Hold
Cadence Design initiated with a Hold at Berenberg
Berenberg analyst Gal Munda started Cadence Design (CDNS) with a Hold rating and $50 price target. The company has a relatively higher exposure to the slower growth core electronic design automation market compared to peer Synopsys (SNPS), Munda tells investors in a research note.
02/20/19
DADA
02/20/19
NO CHANGE
Target $62
DADA
Buy
Cadence Design price target raised to $62 from $52 at DA Davidson
DA Davidson analyst Thomas Diffely raised his price target on Cadence Design to $62 and kept his Buy rating, saying the company's Q4 earnings beat and better than expected guidance are driven by the "key technology inflections in data center, 5G, auto, AI, VR/AR", and other businesses. The analyst notes that while the semiconductor and system customers of Cadence Design are suffering from investment delays, the company is making progress on its total addressable market expansion strategy, with added "focus on adjacencies in the aerospace & defense, auto, and medical verticals." Diffely adds that macro concerns in China have had no impact on design activity in the region.

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