Cadence Design Systems advances after annual forecast hikes

Cadence Design Systems

29/07/2025 12:08

** Shares of chip design software provider Cadence Design Systems CDNS.O gain 7.8% to $359.89 premarket

** Co raises FY25 revenue forecast to $5.21-$5.27 bln range, from previous range of $5.15-$5.23 bln

** Forecasts annual adj. EPS between $6.85-$6.95 vs $6.73-$6.83 earlier

** Separately, co agreed to plead guilty and pay more than $140 mln to resolve U.S. charges for selling its chip design products to a Chinese military university

** At least six brokerages raise PTs

** J.P.Morgan says advanced chip design activity remains strong, can drive co to revise annual estimates higher every quarter this year

** Piper Sandler, however, downgrades co to "neutral" from "overweight" as it believes co's valuation has moved beyond attractive despite fundamentals showing strong growth

** Average rating of 23 analysts remains a "buy", median PT at $370 - LSEG

** Stock up about 11% YTD, till last close

 (Reporting by Purvi Agarwal in Bengaluru)

 ((Purvi.Agarwal@thomsonreuters.com))