MorganRosel Wealth Management LLC Has $923,000 Holdings in Cadence Design Systems, Inc. $CDNS

MorganRosel Wealth Management LLC increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 160.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,627 shares of the software maker’s stock after buying an additional 1,617 shares during the period. MorganRosel Wealth Management LLC’s holdings in Cadence Design Systems were worth $923,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Cadence Design Systems by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 26,595,861 shares of the software maker’s stock worth $8,195,515,000 after purchasing an additional 256,719 shares during the last quarter. State Street Corp boosted its stake in shares of Cadence Design Systems by 1.4% during the 2nd quarter. State Street Corp now owns 12,318,585 shares of the software maker’s stock worth $3,795,972,000 after acquiring an additional 172,551 shares during the period. Jennison Associates LLC raised its stake in Cadence Design Systems by 3.0% in the 2nd quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock valued at $2,877,536,000 after acquiring an additional 273,149 shares during the period. Geode Capital Management LLC raised its position in shares of Cadence Design Systems by 1.2% in the second quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker’s stock valued at $1,952,771,000 after purchasing an additional 77,478 shares during the period. Finally, Norges Bank acquired a new stake in Cadence Design Systems during the second quarter worth approximately $1,190,618,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the completion of the transaction, the chief executive officer directly owned 195,844 shares in the company, valued at $66,586,960. This represents a 9.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $312.64, for a total transaction of $312,640.00. Following the completion of the sale, the vice president owned 97,067 shares in the company, valued at $30,347,026.88. This represents a 1.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 62,025 shares of company stock valued at $20,369,946. 0.37% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Oppenheimer raised Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 target price for the company in a report on Monday, December 1st. Wolfe Research reissued an “outperform” rating and issued a $385.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 28th. Rosenblatt Securities increased their target price on shares of Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Citigroup began coverage on shares of Cadence Design Systems in a research report on Monday, November 24th. They issued a “buy” rating and a $385.00 price target for the company. Finally, Wells Fargo & Company increased their price target on Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average price target of $379.11.

Cadence Design Systems Stock Up 2.7%

NASDAQ CDNS opened at $327.31 on Monday. The business has a fifty day moving average price of $318.49 and a two-hundred day moving average price of $333.30. The stock has a market capitalization of $89.09 billion, a PE ratio of 84.36, a PEG ratio of 3.65 and a beta of 1.02. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm earned $1.64 EPS. Cadence Design Systems’s revenue was up 10.1% on a year-over-year basis. 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. Equities analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal 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.