Cadence Design Systems hits record high after annual forecast raise

Cadence Design Systems

29/07/2025 15:24

Updates

** Shares of chip design software provider Cadence Design Systems CDNS.O jump more than 10% to $370.61 — a record high

** Company raises FY25 revenue forecast range to $5.21 bln-$5.27 bln, from $5.15 bln-$5.23 bln previously

** Forecasts annual adj. EPS to be between $6.85 and $6.95, compared with $6.73-$6.83 earlier

** Separately, company on Monday 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 nine brokerages raise PTs on the stock

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

** Piper Sandler, however, downgrades to "neutral" from "overweight"; says company's valuation has moved beyond attractive despite fundamentals showing strong growth

** Average rating of 23 analysts is a "buy", median PT at $370 - data compiled by LSEG

** Shares up about 22% YTD, including session's moves

(Reporting by Purvi Agarwal in Bengaluru)

((Purvi.Agarwal@thomsonreuters.com))