Teamwork Financial Advisors LLC Sells 5,218 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Teamwork Financial Advisors LLC sold 5,218 shares of Cadence Design Systems, reducing its holdings by 40.0% to 7,820 shares, valued at approximately $2,410,000.
• Multiple analysts have recently increased their target prices for Cadence Design Systems, with Needham & Company raising it to $390.00 and KeyCorp to $405.00, reflecting a positive outlook on the company's stock.
• Cadence Design Systems reported a quarterly earnings per share (EPS) of $1.65, surpassing analysts' expectations, with revenue of $1.28 billion, marking a year-over-year growth of 20.2%.

Teamwork Financial Advisors LLC cut its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 40.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,820 shares of the software maker's stock after selling 5,218 shares during the quarter. Teamwork Financial Advisors LLC's holdings in Cadence Design Systems were worth $2,410,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CDNS. Needham & Company LLC raised their target price on shares of Cadence Design Systems from $325.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. KeyCorp upped their price objective 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. Berenberg Bank set a $400.00 price target on Cadence Design Systems in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen upgraded shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a research report on Saturday. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $364.33.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $343.48 on Friday. The firm has a market cap of $93.59 billion, a PE ratio of 92.83, a price-to-earnings-growth ratio of 4.65 and a beta of 1.00. The firm's fifty day moving average is $342.75 and its 200-day moving average is $302.64. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.56 by $0.09. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The firm's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous 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. Sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Transactions 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 Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total value of $343,950.00. Following the completion of the sale, the vice president directly owned 102,499 shares of the company's stock, valued at approximately $35,254,531.05. The trade was a 0.97% 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 the company's stock in a transaction that occurred 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 in the company, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,180 shares of company stock worth $1,069,232 over the last three months. 1.99% of the stock is owned by company insiders.

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.

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.