Moran Wealth Management LLC Has $49.45 Million Stake in Cadence Design Systems, Inc. $CDNS

Moran Wealth Management LLC decreased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,775 shares of the software maker’s stock after selling 6,372 shares during the period. Cadence Design Systems comprises 1.5% of Moran Wealth Management LLC’s portfolio, making the stock its 7th largest holding. Moran Wealth Management LLC owned about 0.05% of Cadence Design Systems worth $49,449,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Barrett & Company Inc. bought a new position in shares of Cadence Design Systems during the 2nd quarter valued at $31,000. Strategic Wealth Investment Group LLC bought a new stake in shares of Cadence Design Systems in the second quarter worth $32,000. Promus Capital LLC purchased a new stake in Cadence Design Systems during the second quarter valued at $33,000. Robbins Farley purchased a new stake in Cadence Design Systems during the third quarter valued at $35,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its holdings in Cadence Design Systems by 41.1% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock valued at $39,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Trading Up 1.9%

Cadence Design Systems stock opened at $320.54 on Thursday. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The firm has a market capitalization of $87.25 billion, a price-to-earnings ratio of 82.61, a P/E/G ratio of 3.51 and a beta of 1.02. The firm has a 50 day moving average of $319.07 and a 200 day moving average of $332.66. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.14. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 earnings per share. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 EPS. As a group, research analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Anirudh Devgan sold 20,000 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $340.00, for a total value of $6,800,000.00. Following the transaction, the chief executive officer directly owned 195,844 shares in the company, valued at $66,586,960. The trade was a 9.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total value of $60,746.40. Following the completion of the transaction, the director directly owned 7,650 shares of the company’s stock, valued at approximately $2,581,722. This trade represents a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 62,025 shares of company stock worth $20,369,946 in the last three months. Corporate insiders own 1.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wolfe Research restated an “outperform” rating and set a $385.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Wall Street Zen downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Rosenblatt Securities boosted their target price on shares of Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a report on Monday, December 29th. Finally, BNP Paribas Exane assumed coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price target on the stock. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.11.

About Cadence Design Systems

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.