Cadence Design Systems, Inc. $CDNS Shares Purchased by MGO One Seven LLC

by · The Cerbat Gem

MGO One Seven LLC raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) by 75.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,273 shares of the software maker’s stock after buying an additional 3,993 shares during the quarter. MGO One Seven LLC’s holdings in Cadence Design Systems were worth $3,257,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Tiemann Investment Advisors LLC boosted its holdings in shares of Cadence Design Systems by 2.9% in the second quarter. Tiemann Investment Advisors LLC now owns 1,050 shares of the software maker’s stock valued at $324,000 after acquiring an additional 30 shares in the last quarter. Petros Family Wealth LLC lifted its position in Cadence Design Systems by 2.6% in 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 during the period. Hemington Wealth Management boosted its holdings in Cadence Design Systems by 14.0% in the 2nd quarter. Hemington Wealth Management now owns 261 shares of the software maker’s stock valued at $80,000 after purchasing an additional 32 shares in the last quarter. KRS Capital Management LLC increased its position in Cadence Design Systems by 1.4% during the 3rd quarter. KRS Capital Management LLC now owns 2,425 shares of the software maker’s stock worth $852,000 after purchasing an additional 33 shares during the period. Finally, Kathmere Capital Management LLC raised its stake in shares of Cadence Design Systems by 1.4% during the 3rd quarter. Kathmere Capital Management LLC now owns 2,336 shares of the software maker’s stock worth $821,000 after buying an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 20,000 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $340.00, for a total value of $6,800,000.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul Scannell sold 5,490 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the completion of the transaction, the vice president directly owned 20,321 shares of the company’s stock, valued at $6,897,557.03. The trade was a 21.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 62,025 shares of company stock valued at $20,369,946 in the last ninety days. 0.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. KeyCorp restated an “overweight” rating and set a $405.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. BNP Paribas assumed coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target for the company. Rosenblatt Securities raised their price objective on shares of Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Finally, BNP Paribas Exane initiated coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $380.72.

View Our Latest Analysis on Cadence Design Systems

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $323.06 on Wednesday. The company has a current ratio of 3.05, a quick ratio of 2.84 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average price is $318.09 and its 200 day moving average price is $333.58. 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 $87.94 billion, a price-to-earnings ratio of 83.26, a PEG ratio of 3.63 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last released its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate of $1.79 by $0.14. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business earned $1.64 earnings per share. The company’s quarterly 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. As a group, research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Cadence Design Systems Company Profile

(Free Report)

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.

See Also