Cadence Design Systems, Inc. $CDNS Stock Holdings Decreased by Moran Wealth Management LLC

Key Points

• Moran Wealth Management LLC has decreased its holdings in Cadence Design Systems by 2.8%, owning 147,147 shares worth approximately $45.34 million, making it the firm's 6th biggest position.
• Insider transactions revealed that Director Ita M. Brennan and VP Paul Cunningham sold shares, with Brennan's sale resulting in a 2.25% decrease in ownership and Cunningham's a 0.99% decrease.
• Cadence Design Systems reported earnings of $1.65 per share, surpassing analysts' expectations, with a revenue of $1.28 billion reflecting a 20.2% increase compared to the same quarter last year.

Moran Wealth Management LLC trimmed its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 2.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 147,147 shares of the software maker's stock after selling 4,272 shares during the quarter. Cadence Design Systems makes up about 1.4% of Moran Wealth Management LLC's portfolio, making the stock its 6th biggest position. Moran Wealth Management LLC owned 0.05% of Cadence Design Systems worth $45,343,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CDNS. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Cadence Design Systems during the first quarter valued at $25,000. Costello Asset Management INC bought a new stake in Cadence Design Systems during the 1st quarter valued at about $25,000. Saudi Central Bank bought a new stake in Cadence Design Systems during the 1st quarter valued at about $27,000. Valley National Advisers Inc. increased its position in shares of Cadence Design Systems by 707.1% during the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after acquiring an additional 99 shares during the period. Finally, Barrett & Company Inc. purchased a new position in shares of Cadence Design Systems during the second quarter worth approximately $31,000. Institutional investors own 84.85% of the company's stock.

Insider Transactions at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the transaction, the director directly owned 7,830 shares of the company's stock, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total value of $348,270.00. Following the completion of the sale, the vice president directly owned 99,672 shares of the company's stock, valued at approximately $34,712,767.44. This represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,680 shares of company stock valued at $3,729,852. Corporate insiders own 0.37% of the company's stock.

Cadence Design Systems Stock Performance

CDNS stock opened at $332.23 on Tuesday. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The firm has a market cap of $90.53 billion, a price-to-earnings ratio of 89.79, a PEG ratio of 4.29 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82. The firm has a 50-day simple moving average of $351.02 and a two-hundred day simple moving average of $317.83.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.56 by $0.09. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The business had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same period last year, the business earned $1.28 EPS. The company's revenue was up 20.2% compared to the same quarter last year. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. On average, equities analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CDNS shares. BNP Paribas assumed coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They set an "outperform" rating and a $400.00 target price on the stock. Robert W. Baird upped their target price on Cadence Design Systems from $340.00 to $380.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Mizuho upped their target price on Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Weiss Ratings restated a "hold (c)" rating on shares of Cadence Design Systems in a report on Wednesday, October 8th. Finally, KeyCorp lifted their price objective on Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $368.53.

About Cadence Design Systems

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.

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