3,274 Shares in Cadence Design Systems, Inc. (NASDAQ:CDNS) Acquired by MorganRosel Wealth Management LLC

MorganRosel Wealth Management LLC acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,274 shares of the software maker’s stock, valued at approximately $1,019,000.

A number of other institutional investors have also recently made changes to their positions in CDNS. Valley National Advisers Inc. raised its holdings in Cadence Design Systems by 90.4% during the 4th quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock valued at $26,000 after buying an additional 47 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of Cadence Design Systems during the fourth quarter valued at about $28,000. Annapolis Financial Services LLC purchased a new stake in shares of Cadence Design Systems during the first quarter worth about $32,000. Union Savings Bank purchased a new position in Cadence Design Systems during the 4th quarter valued at about $33,000. Finally, Rakuten Securities Inc. bought a new position in Cadence Design Systems during the 4th quarter valued at approximately $45,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Karna Nisewaner sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total transaction of $165,216.00. Following the completion of the sale, the senior vice president now owns 20,480 shares of the company’s stock, valued at $5,639,372.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Karna Nisewaner sold 600 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $275.36, for a total transaction of $165,216.00. Following the transaction, the senior vice president now directly owns 20,480 shares of the company’s stock, valued at $5,639,372.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $308.83, for a total value of $463,245.00. Following the completion of the sale, the director now owns 50,183 shares of the company’s stock, valued at $15,498,015.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,534 shares of company stock valued at $11,735,433. Insiders own 0.62% of the company’s stock.

Cadence Design Systems Price Performance

Shares of CDNS opened at $307.75 on Monday. The firm’s 50-day simple moving average is $294.50 and its two-hundred day simple moving average is $293.96. Cadence Design Systems, Inc. has a fifty-two week low of $217.77 and a fifty-two week high of $328.99. The stock has a market cap of $83.84 billion, a PE ratio of 80.14, a price-to-earnings-growth ratio of 3.77 and a beta of 1.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.19 and a current ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.04. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Cadence Design Systems had a return on equity of 32.44% and a net margin of 25.68%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the company earned $1.02 earnings per share. Analysts anticipate that Cadence Design Systems, Inc. will post 4.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CDNS. Bank of America lifted their price objective on Cadence Design Systems from $330.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $302.00 to $322.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Wells Fargo & Company increased their price target on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price objective on shares of Cadence Design Systems in a research report on Friday, May 17th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $332.78.

Cadence Design Systems 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.