Moran Wealth Management LLC Sells 16,671 Shares of Cadence Design Systems, Inc. $CDNS

Moran Wealth Management LLC reduced its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 13.8% in the first quarter, HoldingsChannel reports. The fund owned 104,512 shares of the software maker’s stock after selling 16,671 shares during the period. Cadence Design Systems accounts for 0.9% of Moran Wealth Management LLC’s portfolio, making the stock its 15th biggest holding. Moran Wealth Management LLC’s holdings in Cadence Design Systems were worth $29,041,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Brighton Jones LLC boosted its position in shares of Cadence Design Systems by 80.2% in the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after purchasing an additional 676 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Cadence Design Systems by 3.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock worth $560,000 after buying an additional 80 shares during the last quarter. Thompson Davis & CO. Inc. bought a new position in Cadence Design Systems during the 2nd quarter valued at approximately $205,000. NewEdge Advisors LLC increased its position in Cadence Design Systems by 39.3% during the 2nd quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock valued at $10,720,000 after buying an additional 9,807 shares in the last quarter. Finally, Glenview Trust co purchased a new position in Cadence Design Systems during the second quarter valued at $226,000. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

Shares of CDNS opened at $373.14 on Friday. The firm has a fifty day simple moving average of $369.80 and a two-hundred day simple moving average of $324.78. The firm has a market cap of $102.92 billion, a PE ratio of 86.98, a P/E/G ratio of 4.42 and a beta of 1.15. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the business posted $1.57 EPS. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. On average, equities analysts anticipate that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Insiders Place Their Bets

In other Cadence Design Systems news, Director James D. Plummer sold 1,511 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $381.34, for a total transaction of $576,204.74. Following the completion of the sale, the director directly owned 23,264 shares in the company, valued at $8,871,493.76. The trade was a 6.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Wall sold 21,500 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $309.45, for a total transaction of $6,653,175.00. Following the sale, the chief financial officer directly owned 86,875 shares of the company’s stock, valued at $26,883,468.75. The trade was a 19.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 178,557 shares of company stock valued at $66,925,452. 0.49% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CDNS shares. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Cadence Design Systems in a report on Tuesday, April 28th. Citigroup raised their price target on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Berenberg Bank set a $440.00 price target on Cadence Design Systems in a research report on Wednesday, May 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $360.00 price target on shares of Cadence Design Systems in a research note on Friday, April 24th. Finally, Stifel Nicolaus increased their price objective on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus price target of $386.59.

Cadence Design Systems Company 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.