BI Asset Management Fondsmaeglerselskab A S Cuts Position in Cadence Design Systems, Inc. $CDNS

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its position in Cadence Design Systems by 25.3%, selling 3,365 shares, leaving them with 9,920 shares valued at $2,523,000.
• Cadence Design Systems reported an earnings per share (EPS) of $1.65 for the latest quarter, exceeding analysts' estimates of $1.56 and showing a year-over-year revenue growth of 20.2%.
• Multiple analysts have raised their price targets for Cadence Design Systems, with new targets ranging from $380 to $405, indicating a consensus rating of "Moderate Buy" based on strong institutional support.

BI Asset Management Fondsmaeglerselskab A S reduced its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 25.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,920 shares of the software maker's stock after selling 3,365 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Cadence Design Systems were worth $2,523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its stake in shares of Cadence Design Systems by 14.8% in the first quarter. Wellington Management Group LLP now owns 463,353 shares of the software maker's stock worth $117,845,000 after acquiring an additional 59,671 shares during the last quarter. Cornerstone Select Advisors LLC boosted its stake in Cadence Design Systems by 4.6% in the 1st quarter. Cornerstone Select Advisors LLC now owns 4,056 shares of the software maker's stock worth $1,032,000 after purchasing an additional 179 shares in the last quarter. Aptus Capital Advisors LLC grew its position in Cadence Design Systems by 3.0% during the 1st quarter. Aptus Capital Advisors LLC now owns 3,590 shares of the software maker's stock valued at $913,000 after purchasing an additional 104 shares during the last quarter. Aviso Financial Inc. grew its position in Cadence Design Systems by 4.9% during the 1st quarter. Aviso Financial Inc. now owns 6,177 shares of the software maker's stock valued at $1,571,000 after purchasing an additional 291 shares during the last quarter. Finally, Algert Global LLC bought a new stake in Cadence Design Systems during the 1st quarter valued at about $518,000. Institutional investors own 84.85% of the company's stock.

Cadence Design Systems Stock Down 0.4%

Cadence Design Systems stock opened at $345.45 on Thursday. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The stock has a fifty day moving average of $327.57 and a 200 day moving average of $295.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82. The stock has a market cap of $94.13 billion, a PE ratio of 93.37, a price-to-earnings-growth ratio of 4.55 and a beta of 0.97.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the company posted $1.28 EPS. The business's quarterly revenue 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. As a group, sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Buying and Selling

In other news, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total value of $54,720.00. Following the completion of the sale, the director directly owned 8,010 shares in the company, valued at $2,435,040. This represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $358.72, for a total value of $358,720.00. Following the completion of the transaction, the vice president directly owned 104,499 shares in the company, valued at approximately $37,485,881.28. This represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,830 shares of company stock valued at $1,207,671. 1.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CDNS. KeyCorp increased their price target on shares of Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Wells Fargo & Company increased their target price on Cadence Design Systems from $365.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Robert W. Baird boosted their price target on Cadence Design Systems from $340.00 to $380.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. increased their price objective on Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Loop Capital boosted their target price on Cadence Design Systems from $370.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $364.33.

About Cadence Design Systems

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.

Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.