Maridea Wealth Management LLC Makes New Investment in Cadence Design Systems, Inc. $CDNS

Key Points

• Maridea Wealth Management initiated a position in Cadence Design Systems, buying 8,147 shares worth approximately $3.06 million in the second quarter. Institutional investors and hedge funds collectively own 84.85% of CDNS.
• Analyst sentiment remains positive, with 13 Buy ratings and three Holds, resulting in a consensus “Moderate Buy” rating and an average price target of $405.69.
• Cadence reported quarterly EPS of $2.11, exceeding estimates of $2.05, while revenue rose 24.2% year over year to $1.58 billion. However, company insiders sold 140,557 shares worth $54.6 million over the past 90 days.

Maridea Wealth Management LLC acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 8,147 shares of the software maker's stock, valued at approximately $3,058,000.

Several other institutional investors also recently modified their holdings of CDNS. Norges Bank bought a new stake in shares of Cadence Design Systems in the 4th quarter valued at about $1,352,922,000. J. Stern & Co. LLP grew its holdings in Cadence Design Systems by 10,159.3% during the fourth quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker's stock worth $923,129,000 after purchasing an additional 2,924,470 shares during the period. Wellington Management Group LLP increased its position in Cadence Design Systems by 218.6% during the fourth quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker's stock worth $798,087,000 after buying an additional 1,751,927 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Cadence Design Systems by 232.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,430,599 shares of the software maker's stock worth $397,521,000 after buying an additional 999,862 shares during the last quarter. Finally, Scge Management L.P. bought a new stake in Cadence Design Systems in the second quarter valued at approximately $187,663,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 7,081 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $393.91, for a total transaction of $2,789,276.71. Following the transaction, the vice president owned 32,181 shares in the company, valued at $12,676,417.71. This trade represents a 18.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of Cadence Design Systems stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total value of $10,377,075.00. Following the sale, the chief executive officer directly owned 253,519 shares of the company's stock, valued at $105,210,385. This represents a 8.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 140,557 shares of company stock worth $54,631,737 in the last 90 days. Company insiders own 0.49% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CDNS shares. KeyCorp reaffirmed an "overweight" rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. Oppenheimer reissued a "market perform" rating and set a $300.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 28th. Bank of America increased their price target on Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Wall Street Zen raised Cadence Design Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $400.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $405.69.

Cadence Design Systems Stock Up 0.3%

Cadence Design Systems stock opened at $324.82 on Friday. The company's 50-day moving average price is $360.72 and its two-hundred day moving average price is $331.06. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. The stock has a market cap of $89.45 billion, a P/E ratio of 64.58, a P/E/G ratio of 3.49 and a beta of 1.15. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The business's revenue was up 24.2% on a year-over-year basis. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. As a group, analysts expect that Cadence Design Systems, Inc. will post 6.4 EPS for the current year.

Cadence Design Systems Profile

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.

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