Key Highlights:
- Cadence Design Systems extends its collaboration with Samsung Foundry, impacting AI and high-performance computing sectors.
- Analysts set an average price target of $319.78 for CDNS, indicating potential growth.
- Current consensus rates the stock as "Outperform," with a GF Value estimate suggesting further upside.
Cadence Design Systems (CDNS, Financial) has recently announced the expansion of its strategic partnership with Samsung Foundry, a move that underscores both companies' commitment to innovation in the semiconductor industry. This extended agreement will see Samsung leveraging more of Cadence's intellectual property (IP) across advanced process nodes. This collaboration aims to strengthen Cadence's presence in the artificial intelligence (AI) and high-performance computing markets, providing a significant boost to its competitive edge.
Wall Street Analysts Forecast
Wall Street analysts have projected one-year price targets for Cadence Design Systems Inc (CDNS, Financial), with an average target price of $319.78. The projections range from a high of $365.00 to a low of $200.00. Given the current stock price of $300.06, this average target suggests a potential upside of 6.57%. Investors can explore more comprehensive data on these projections by visiting the Cadence Design Systems Inc (CDNS) Forecast page.
The consensus from 22 brokerage firms provides an average recommendation of 2.0 for Cadence Design Systems Inc (CDNS, Financial), categorizing the stock with an "Outperform" rating. This recommendation scale ranges from 1, indicating a Strong Buy, to 5, signifying a Sell. This rating reflects positive sentiment and confidence in the company's future performance.
According to GuruFocus estimates, the GF Value for Cadence Design Systems Inc (CDNS, Financial) in one year's time is projected to be $342.49. This forecast implies an upside of 14.14% from the current price of $300.055. The GF Value is a proprietary measure that suggests what the stock's fair trading value should be, based on historical trading multiples, previous business growth, and future performance estimates. More detailed insights and data are available on the Cadence Design Systems Inc (CDNS) Summary page.
