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CDNS

Cadence Design

$64.23

0.87 (1.37%)

08:42
04/23/19
04/23
08:42
04/23/19
08:42

Cadence Design price target raised to $73 from $62 at RBC Capital

RBC Capital analyst Mitch Steves raised his price target on Cadence Design to $73 and kept his Outperform rating after the company beat expectations on Q1 revenue, operating margins, and earnings while raising its guidance for FY19. The analyst adds that the higher outlook for cash flows could also become "more important" as its investor base starts to shift toward being more "software-oriented". Steves also raises his FY19 EPS outlook for Cadence Design to $2.09 from $2.03.

  • 02

    May

CDNS Cadence Design
$64.23

0.87 (1.37%)

02/20/19
NEED
02/20/19
NO CHANGE
Target $60
NEED
Buy
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.
03/14/19
NEED
03/14/19
NO CHANGE
Target $64
NEED
Cadence Design price target raised to $64 from $60 at Needham
Needham analyst Richard Valera raised his price target on Cadence Design to $64 and kept his Buy rating after holding talks with its CFO John Wall and Investor Relations director Alan Lindstrom. The analyst says the discussions were highlighted by the management's view of "robust demand" that the company is seeing across numerous verticals. Valera also believes that Cadence Design is positioned "for continued share gains in digital", with good pricing power and margin expansion.
04/10/19
KEYB
04/10/19
INITIATION
KEYB
Sector Weight
Cadence Design resumed with a Sector Weight at KeyBanc
KeyBanc analyst Jason Celino resumed coverage of Cadence Design with a Sector Weight on valuation. Nonetheless, the analyst acknowledges that Cadence is a "high-quality" company, with a strong capital allocation strategy, and also benefiting from broad-based EDA tailwinds and executing well.
04/23/19
DADA
04/23/19
NO CHANGE
Target $74
DADA
Buy
Cadence Design price target raised to $74 from $62 at DA Davidson
DA Davidson analyst Thomas Diffely raised his price target on Cadence Design to $74 and kept his Buy rating after its "beat and raise" Q1 results and FY19 guidance, saying the "combination of robust design activity across multiple end markets" is driving its business to "new highs". The analyst believes that the company's "successful" System Design Enablement strategy of launching new products and entering new markets could potentially tripe its total addressable market over the next 5 years to $30B, also maintaining a bullish view on the electronic design automation industry overall.

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