Taikang Asset Management Hong Kong Co Ltd Sells 2,213 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Taikang Asset Management Hong Kong Co Ltd reduced its stake in Cadence Design Systems by 9.5%, now holding 21,089 shares valued at approximately $5.36 million.
• Cadence Design Systems recently reported $1.65 EPS for the quarter, surpassing estimates, with revenue growth of 20.2% year-over-year.
• Analysts have increased their price targets for Cadence Design Systems, with Wells Fargo raising it to $405.00, reflecting a generally positive outlook.

Taikang Asset Management Hong Kong Co Ltd lessened its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 9.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,089 shares of the software maker's stock after selling 2,213 shares during the period. Taikang Asset Management Hong Kong Co Ltd's holdings in Cadence Design Systems were worth $5,364,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new position in Cadence Design Systems in the fourth quarter worth about $348,000. Merit Financial Group LLC increased its holdings in shares of Cadence Design Systems by 42.6% during the first quarter. Merit Financial Group LLC now owns 3,165 shares of the software maker's stock worth $805,000 after buying an additional 946 shares in the last quarter. Novem Group increased its holdings in shares of Cadence Design Systems by 30.3% during the first quarter. Novem Group now owns 4,067 shares of the software maker's stock worth $1,034,000 after buying an additional 945 shares in the last quarter. Seilern Investment Management Ltd acquired a new stake in shares of Cadence Design Systems during the first quarter worth approximately $64,800,000. Finally, Integrated Advisors Network LLC increased its holdings in shares of Cadence Design Systems by 156.9% during the fourth quarter. Integrated Advisors Network LLC now owns 3,406 shares of the software maker's stock worth $1,023,000 after buying an additional 2,080 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Cadence Design Systems Price Performance

CDNS stock traded down $3.86 during trading on Friday, reaching $350.43. 1,290,885 shares of the company were exchanged, compared to its average volume of 2,008,222. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The company has a market capitalization of $95.49 billion, a price-to-earnings ratio of 94.71, a P/E/G ratio of 4.55 and a beta of 0.97. The company has a 50-day moving average of $333.29 and a two-hundred day moving average of $297.06.

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 the consensus estimate of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The company's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 earnings per share. 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 predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. 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 research note on Tuesday, July 29th. The Goldman Sachs Group began coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They set a "buy" rating and a $380.00 target price for the company. Mizuho lifted their price target on shares of Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. Piper Sandler reaffirmed a "neutral" rating and issued a $355.00 price objective (up from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $364.33.

Insider Buying and Selling at Cadence Design Systems

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

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.