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

Moran Wealth Management LLC reduced its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 13.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,512 shares of the software maker’s stock after selling 16,671 shares during the quarter. Cadence Design Systems accounts for about 0.9% of Moran Wealth Management LLC’s holdings, making the stock its 15th largest 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 institutional investors have also recently modified their holdings of CDNS. Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of Cadence Design Systems by 3.1% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,033 shares of the software maker’s stock valued at $287,000 after buying an additional 31 shares in the last quarter. Spirepoint Private Client LLC boosted its stake in Cadence Design Systems by 4.6% in the fourth quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker’s stock worth $226,000 after buying an additional 32 shares in the last quarter. Townsquare Capital LLC grew its position in Cadence Design Systems by 3.6% during the fourth quarter. Townsquare Capital LLC now owns 977 shares of the software maker’s stock valued at $305,000 after acquiring an additional 34 shares during the last quarter. Pinnacle Associates Ltd. grew its position in Cadence Design Systems by 3.4% during the third quarter. Pinnacle Associates Ltd. now owns 1,079 shares of the software maker’s stock valued at $379,000 after acquiring an additional 35 shares during the last quarter. Finally, Global Assets Advisory LLC raised its stake in shares of Cadence Design Systems by 2.1% during the fourth quarter. Global Assets Advisory LLC now owns 1,726 shares of the software maker’s stock worth $540,000 after acquiring an additional 35 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $373.14 on Friday. The firm’s 50-day moving average price is $369.80 and its 200-day moving average price is $324.78. The firm has a market capitalization of $102.92 billion, a price-to-earnings ratio of 86.98, a PEG 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 announced its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the company earned $1.57 earnings per share. Cadence Design Systems’s quarterly revenue 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. Sell-side analysts anticipate that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a report on Tuesday, April 28th. Robert W. Baird increased their target price on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $360.00 target price on shares of Cadence Design Systems in a report on Friday, April 24th. Piper Sandler lifted their target price on shares of Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Finally, Citigroup boosted their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $386.59.

Insider Activity

In other Cadence Design Systems news, CEO Anirudh Devgan sold 51,887 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the transaction, the chief executive officer owned 303,525 shares in the company, valued at approximately $112,304,250. This represents a 14.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 10,500 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $339.00, for a total value of $3,559,500.00. Following the completion of the transaction, the vice president directly owned 33,946 shares of the company’s stock, valued at $11,507,694. This represents a 23.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 178,557 shares of company stock worth $66,925,452. Company insiders own 0.49% of the company’s stock.

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.