Baader Bank Aktiengesellschaft Sells 2,374 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Baader Bank Aktiengesellschaft reduced its stake in Cadence Design Systems by 9.4%, now holding 22,925 shares valued at approximately $7.05 million as of the latest SEC filing.
• A number of analysts have raised their price targets for Cadence Design Systems, with KeyCorp setting a new target of $405.00 and Robert W. Baird raising it to $380.00, reflecting strong support for the stock.
• Cadence Design Systems reported an earnings per share of $1.65 for the last quarter, surpassing the expected $1.56, and achieved year-over-year revenue growth of 20.2%.

Baader Bank Aktiengesellschaft trimmed its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 9.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,925 shares of the software maker's stock after selling 2,374 shares during the period. Baader Bank Aktiengesellschaft's holdings in Cadence Design Systems were worth $7,055,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of CDNS. Smallwood Wealth Investment Management LLC acquired a new position in Cadence Design Systems during the first quarter worth $25,000. Costello Asset Management INC bought a new position in Cadence Design Systems in the 1st quarter worth approximately $25,000. Saudi Central Bank bought a new stake in shares of Cadence Design Systems during the first quarter valued at about $27,000. Valley National Advisers Inc. grew its holdings in shares of Cadence Design Systems by 707.1% during the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after purchasing an additional 99 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of Cadence Design Systems by 36.5% during the first quarter. Meeder Asset Management Inc. now owns 172 shares of the software maker's stock worth $44,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price target on Cadence Design Systems from $330.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. The Goldman Sachs Group assumed coverage on Cadence Design Systems in a research note on Thursday, July 10th. They issued a "buy" rating and a $380.00 target price on the stock. Robert W. Baird upped their price target on Cadence Design Systems from $340.00 to $380.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Finally, Needham & Company LLC increased their target price on Cadence Design Systems from $325.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $364.33.

Cadence Design Systems Stock Performance

Cadence Design Systems stock traded down $0.65 during trading hours on Monday, hitting $372.70. 600,948 shares of the stock traded hands, compared to its average volume of 2,013,503. The stock has a market capitalization of $101.56 billion, a price-to-earnings ratio of 100.57, a P/E/G ratio of 4.90 and a beta of 1.00. The firm's 50 day moving average price is $346.27 and its 200-day moving average price is $306.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45.

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 for the quarter, topping 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 company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. Cadence Design Systems'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, equities analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ita M. Brennan sold 180 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the transaction, the director directly owned 7,830 shares of the company's stock, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total value of $343,950.00. Following the completion of the transaction, the vice president owned 102,499 shares of the company's stock, valued at $35,254,531.05. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,180 shares of company stock worth $1,069,232. 0.37% of the stock is owned by corporate insiders.

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.