Do Wall Street Analysts Like Cadence Design Systems Stock?

Valued at a market cap of $87.5 billion, Cadence Design Systems, Inc. (CDNS) provides a comprehensive suite of software, hardware, and intellectual property (IP) solutions that help customers design electronic products. The San Jose, California-based company’s product portfolio includes tools for custom and digital Integrated Circuits (IC) design, functional verification, system design and analysis, and IP offerings such as Tensilica DSPs for audio, vision, and AI applications.

This software company has underperformed the broader market over the past 52 weeks. Shares of CDNS have gained 10.9% over this time frame, while the broader S&P 500 Index ($SPX) has soared 12.5%. However, on a YTD basis, the stock is up 6.6%, outpacing SPX’s 1.4% return.