Marcum Wealth LLC Has $292,000 Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Marcum Wealth LLC trimmed its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 7.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,079 shares of the software maker’s stock after selling 92 shares during the quarter. Marcum Wealth LLC’s holdings in Cadence Design Systems were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Capital Market Strategies LLC boosted its holdings in shares of Cadence Design Systems by 3.1% in the 2nd quarter. Capital Market Strategies LLC now owns 1,300 shares of the software maker’s stock worth $400,000 after acquiring an additional 39 shares in the last quarter. Inspire Advisors LLC boosted its stake in Cadence Design Systems by 1.8% in the first quarter. Inspire Advisors LLC now owns 2,229 shares of the software maker’s stock worth $694,000 after purchasing an additional 40 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of Cadence Design Systems by 4.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 951 shares of the software maker’s stock worth $296,000 after purchasing an additional 41 shares during the last quarter. Consilio Wealth Advisors LLC increased its stake in shares of Cadence Design Systems by 5.2% in the third quarter. Consilio Wealth Advisors LLC now owns 883 shares of the software maker’s stock valued at $239,000 after buying an additional 44 shares in the last quarter. Finally, First Affirmative Financial Network raised its holdings in shares of Cadence Design Systems by 3.6% in the first quarter. First Affirmative Financial Network now owns 1,325 shares of the software maker’s stock valued at $412,000 after buying an additional 46 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Price Performance

Shares of CDNS opened at $280.64 on Friday. The company’s 50-day moving average is $267.73 and its 200-day moving average is $286.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32. The firm has a market capitalization of $76.45 billion, a PE ratio of 73.08, a PEG ratio of 3.30 and a beta of 1.02. Cadence Design Systems, Inc. has a fifty-two week low of $228.66 and a fifty-two week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 EPS. Equities analysts forecast that Cadence Design Systems, Inc. will post 4.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CDNS. Piper Sandler raised shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price for the company in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 23rd. Oppenheimer began coverage on Cadence Design Systems in a research note on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 target price for the company. KeyCorp upped their price target on Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $280.00 price objective on shares of Cadence Design Systems in a research report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average target price of $323.60.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 10,000 shares of Cadence Design Systems stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total value of $2,659,100.00. Following the transaction, the chief financial officer now owns 38,654 shares in the company, valued at $10,278,485.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total value of $173,056.00. Following the completion of the transaction, the vice president now directly owns 65,194 shares in the company, valued at approximately $17,357,250.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John M. Wall sold 10,000 shares of Cadence Design Systems stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total value of $2,659,100.00. Following the transaction, the chief financial officer now directly owns 38,654 shares in the company, valued at $10,278,485.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,347 shares of company stock worth $7,774,637 over the last three months. Corporate insiders own 1.99% of the company’s stock.

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.