Cadence Design Systems (CDNS)
Provides chip-design software, verification hardware, semiconductor IP, and multiphysics simulation.
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Licenses chip-design and verification software, sells or leases emulation hardware, and licenses reusable semiconductor IP, with most revenue recurring. Its system-analysis portfolio now reaches from boards and advanced packages into fluid, thermal, structural, acoustic, and motion simulation, while advanced-node access depends on foundry enablement and export controls.
Develops Core EDA software and accelerated verification hardware for analog, digital, mixed-signal, and advanced-package workflows. Virtuoso, Innovus, Jasper, Xcelium, Palladium, and Protium span circuit design, implementation, verification, emulation, and prototyping. Reusable interface, memory, security, and Tensilica processor IP goes into customer chips.
Extends beyond silicon through System Design and Analysis for boards, packages, and electromechanical systems. Allegro supports board and package design; multiphysics products cover fluid, thermal, electromagnetic, structural, acoustic, and motion simulation, including MSC Nastran and Adams. Fixed-term software licenses produce most revenue, supplemented by hardware, IP royalties, cloud services, and engineering support. Customers span global semiconductor and systems markets. Advanced-node workflows require foundry process enablement, while U.S. export controls govern access for certain overseas customers.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 11, 2026 | FBN Securities | Initiate | Rating: —Target: — | Target: $375 |
| Jul 29, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $370 | Target: $400 |
| Jul 28, 2026 | Oppenheimer | Reiterate | Rating: —Target: $275 | Target: $300 |
| Jul 28, 2026 | Piper Sandler | Reiterate | Rating: —Target: $355 | Target: $349 |
| Jul 28, 2026 | Robert W. Baird | Target | Target: $385 | Target: $420 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.44B · Total debt $2.48B · Total assets $12.08B · Shareholders' equity $6.86B
- Revenue
- $1.58B
- Operating income
- $450.3M
- Net income
- $367.1M
No dividends on record.
| Institutions | 88.98% | 245.05M shares | |
|---|---|---|---|
| 1,577 holders · as of Jun 30, 2026 | |||
| Insiders | 0.29% | 787.9K shares | |
| 17 holders · as of Sep 21, 2026 | |||
| Other | 10.73% | 29.55M shares | |
| remainder | |||
275.39M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 9.68% | 26.66M | as of Jun 30, 2026 |
Massachusetts Financial Services Company ("MFS")Institution | 8.84% | 24.35M | filed Feb 14, 2020 |
Vanguard Capital Management LLCInstitution | 6.54% | 18.02M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.73% | 13.03M | as of Jun 30, 2026 |
FMR LLCInstitution | 3.47% | 9.55M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 15, 2026 | Paul Cunningham | officer: Sr. Vice President | −2,000 | $277.12 |
| Sep 10, 2026 | Ita M. Brennan | director | −180 | $285.51 |
| Aug 25, 2026 | Vincentelli Alberto Sangiovanni | director | −1,250 | $320.88 |
| Aug 26, 2026 | Paul Scannell | officer: Sr. Vice President | −280 | $339.00 |
| Aug 21, 2026 | Chin-Chi Teng | officer: Sr. Vice President | −4,732 | $314.49 |
- Synopsys
Dominant EDA rival; now spans silicon-to-systems with Ansys multiphysics.
- Arm (ADR)
Dominant processor IP licensor; rivals Cadence in design IP and CPU cores.
- CEVA
Named CDNS 10-K rival; wireless and edge-AI IP licensing for smart-edge SoCs.
- Keysight Technologies
Named CDNS 10-K rival; RF/microwave EDA and signal-integrity simulation.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Cadence Design Systems | $302.77 | +2.67% | $81.21B | 58.6 | 35.3 | 13.9 | +24.2% |
| Synopsys | $411.44 | +2.39% | $76.95B | 70.3 | 24.3 | 8.2 | +42.4% |
| Arm (ADR) | $330.66 | +2.40% | $344.86B | 332.9 | 138.4 | 66.9 | +22.4% |
| CEVA | $32.79 | +1.66% | $898.5M | — | 47.8 | 7.8 | +13.1% |
| Keysight Technologies | $343.85 | +0.53% | $58.45B | 47.1 | 25.8 | 8.9 | +36.5% |
| Median | 70.3 | 36.8 | 8.5 | +29.5% |