Morningstar Investment Management LLC Acquires New Holdings in Cadence Design Systems, Inc. $CDNS

Morningstar Investment Management LLC acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 844 shares of the software maker’s stock, valued at approximately $260,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Petros Family Wealth LLC boosted its position in Cadence Design Systems by 2.6% during the second quarter. Petros Family Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $394,000 after purchasing an additional 32 shares in the last quarter. Hemington Wealth Management boosted its holdings in Cadence Design Systems by 14.0% in the second quarter. Hemington Wealth Management now owns 261 shares of the software maker’s stock worth $80,000 after acquiring an additional 32 shares in the last quarter. Legacy Capital Wealth Partners LLC boosted its holdings in Cadence Design Systems by 2.8% in the first quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker’s stock worth $309,000 after acquiring an additional 33 shares in the last quarter. Empower Advisory Group LLC boosted its holdings in Cadence Design Systems by 4.1% in the first quarter. Empower Advisory Group LLC now owns 911 shares of the software maker’s stock worth $232,000 after acquiring an additional 36 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in Cadence Design Systems by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker’s stock worth $3,392,000 after acquiring an additional 36 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Trading Down 2.0%

Shares of NASDAQ:CDNS opened at $325.75 on Wednesday. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The stock has a market cap of $88.76 billion, a price-to-earnings ratio of 88.04, a PEG ratio of 4.36 and a beta of 0.99. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $350.33 and a 200-day moving average price of $317.89.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the business posted $1.28 earnings per share. The company’s revenue for the quarter 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. Equities analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on CDNS. Wells Fargo & Company raised their price target on Cadence Design Systems from $365.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Stifel Nicolaus raised their price target on Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. BNP Paribas Exane began coverage on Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target for the company. BNP Paribas began coverage on Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target for the company. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $300.00 price target on shares of Cadence Design Systems in a report on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.53.

Insider Activity at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction that occurred 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 completion of the transaction, the director directly owned 7,830 shares in the company, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the transaction, the vice president owned 99,672 shares of the company’s stock, valued at approximately $34,712,767.44. This represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,680 shares of company stock worth $3,729,852. 0.37% of the stock is owned by corporate insiders.

Cadence Design Systems Company Profile

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.