Assetmark Inc. Sells 68,922 Shares of Cadence Design Systems, Inc. $CDNS

Assetmark Inc. decreased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 37.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 116,837 shares of the software maker’s stock after selling 68,922 shares during the quarter. Assetmark Inc.’s holdings in Cadence Design Systems were worth $36,003,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CDNS. Costello Asset Management INC bought a new position in shares of Cadence Design Systems in the 1st quarter worth approximately $25,000. Barrett & Company Inc. purchased a new stake in Cadence Design Systems during the second quarter valued at approximately $31,000. Saudi Central Bank bought a new position in Cadence Design Systems in the first quarter worth approximately $27,000. E Fund Management Hong Kong Co. Ltd. raised its position in Cadence Design Systems by 41.1% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock worth $39,000 after acquiring an additional 37 shares during the period. Finally, Princeton Global Asset Management LLC purchased a new position in shares of Cadence Design Systems during the 2nd quarter worth $40,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CDNS has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a research report on Tuesday. Robert W. Baird boosted their price target on Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a report on Tuesday. The Goldman Sachs Group began coverage on Cadence Design Systems in a research note on Thursday, July 10th. They issued a “buy” rating and a $380.00 price objective on the stock. BNP Paribas Exane began coverage on Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective on the stock. Finally, Stifel Nicolaus increased their target price on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $376.00.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems 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 sale, the director owned 7,830 shares of the company’s stock, valued at $2,619,213.30. The trade was a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the transaction, the vice president owned 99,672 shares of the company’s stock, valued at $34,712,767.44. This represents a 0.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,680 shares of company stock worth $3,371,132 in the last quarter. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $336.09 on Friday. The firm has a market cap of $91.58 billion, a price-to-earnings ratio of 86.62, a P/E/G ratio of 4.55 and a beta of 0.99. The firm has a fifty day moving average price of $346.47 and a 200 day moving average price of $324.98. 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 debt-to-equity ratio of 0.48, a quick ratio of 2.67 and a current ratio of 3.05.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping the consensus estimate of $1.79 by $0.14. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.64 EPS. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. As a group, sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

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.