Robert W. Baird Sticks to Their Buy Rating for Cadence Design (CDNS)
Robert W. Baird analyst Joseph Vruwink maintained a Buy rating on Cadence Design (CDNS) on February 22 and set a price target of $157.00. The company’s shares closed last Tuesday at $132.60.
According to TipRanks.com, Vruwink is a 5-star analyst with an average return of 39.2% and a 80.6% success rate. Vruwink covers the Technology sector, focusing on stocks such as Q2 Holdings, Realpage, and Autodesk.
Cadence Design has an analyst consensus of Moderate Buy, with a price target consensus of $153.56, a 13.3% upside from current levels. In a report issued on February 10, Wells Fargo also maintained a Buy rating on the stock with a $160.00 price target.
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Cadence Design’s market cap is currently $36.99B and has a P/E ratio of 62.60. The company has a Price to Book ratio of 24.55.
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Cadence Design Systems, Inc. engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP. The company was founded by Alberto Sangiovanni-Vincentelli, Gudmundur A. Hjartarson, K. Bobby Chao, and K. Charles Janac in June 1988 and is headquartered in San Jose, CA.