Taikang Asset Management Hong Kong Co Ltd Trims Position in Cadence Design Systems, Inc. $CDNS

Taikang Asset Management Hong Kong Co Ltd trimmed its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,089 shares of the software maker’s stock after selling 2,213 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd’s holdings in Cadence Design Systems were worth $5,364,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CDNS. Smallwood Wealth Investment Management LLC purchased a new position in shares of Cadence Design Systems during the 1st quarter valued at approximately $25,000. Costello Asset Management INC acquired a new stake in Cadence Design Systems during the 1st quarter worth $25,000. Valley National Advisers Inc. boosted its stake 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 purchasing an additional 99 shares during the last quarter. Ancora Advisors LLC boosted its position in shares of Cadence Design Systems by 1,400.0% during the 4th quarter. Ancora Advisors LLC now owns 120 shares of the software maker’s stock valued at $36,000 after acquiring an additional 112 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of Cadence Design Systems by 36.5% during 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 during the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the stock in a transaction dated 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 transaction, the vice president directly owned 104,499 shares of the company’s stock, valued at approximately $37,485,881.28. This trade represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ita M. Brennan sold 180 shares of the 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 completion of the transaction, the director directly owned 8,010 shares of the company’s stock, valued at approximately $2,435,040. This trade 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. 0.37% of the stock is currently owned by corporate insiders.

Cadence Design Systems Price Performance

Shares of CDNS opened at $349.63 on Monday. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The company has a market capitalization of $95.27 billion, a price-to-earnings ratio of 94.49, a price-to-earnings-growth ratio of 4.59 and a beta of 0.97. The firm has a 50-day simple moving average of $329.35 and a 200-day simple moving average of $295.73. 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 (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted $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. On average, equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Cadence Design Systems from $365.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Berenberg Bank set a $400.00 target price on shares of Cadence Design Systems in a research note on Wednesday, July 30th. Needham & Company LLC increased their price target on shares of Cadence Design Systems from $325.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Loop Capital increased their price target on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Finally, Robert W. Baird increased their price objective on Cadence Design Systems from $340.00 to $380.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Twelve equities research 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.