Banco Bilbao Vizcaya Argentaria S.A. Has $7.63 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. reduced its holdings in Cadence Design Systems by 6.8%, selling 2,178 shares and retaining 30,023 shares worth approximately $7.63 million.
• Many other institutional investors have also altered their positions, with Seilern Investment Management Ltd acquiring a new stake valued at $64.8 million in Cadence.
• Cadence reported $1.65 EPS for Q2, exceeding estimates and showing a year-over-year revenue increase of 20.2%, and analysts have raised price targets for the stock significantly.

Banco Bilbao Vizcaya Argentaria S.A. lessened its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 6.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,023 shares of the software maker's stock after selling 2,178 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Cadence Design Systems were worth $7,631,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Cadence Design Systems in the 1st quarter worth about $25,000. Costello Asset Management INC acquired a new stake in shares of Cadence Design Systems in the 1st quarter worth about $25,000. Valley National Advisers Inc. increased its holdings in shares of Cadence Design Systems by 707.1% in the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after acquiring an additional 99 shares during the period. Ancora Advisors LLC increased its holdings in shares of Cadence Design Systems by 1,400.0% in the 4th quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock worth $36,000 after acquiring an additional 112 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in shares of Cadence Design Systems by 36.5% in the 1st quarter. Meeder Asset Management Inc. now owns 172 shares of the software maker's stock worth $44,000 after acquiring an additional 46 shares during the period. Institutional investors and hedge funds own 84.85% of the company's stock.

Insider Buying and Selling

In other news, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total value of $54,720.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was 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 owned 104,499 shares in the company, valued at $37,485,881.28. This represents a 0.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,830 shares of company stock valued at $1,207,671 over the last three months. 0.37% of the stock is owned by insiders.

Cadence Design Systems Trading Down 1.1%

CDNS stock traded down $3.8070 during mid-day trading on Monday, reaching $345.8230. 288,887 shares of the stock traded hands, compared to its average volume of 2,026,038. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45. The company has a market cap of $94.23 billion, a P/E ratio of 93.56, a P/E/G ratio of 4.59 and a beta of 0.97. The stock's fifty day moving average is $329.35 and its 200-day moving average is $295.73.

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, beating analysts' consensus estimates of $1.56 by $0.09. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the firm earned $1.28 earnings per share. The business's quarterly revenue was up 20.2% on a year-over-year basis. 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, sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CDNS. KeyCorp increased their target price on shares of Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Mizuho increased their target price on shares of Cadence Design Systems from $360.00 to $375.00 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Bank of America increased their target price on shares of Cadence Design Systems from $320.00 to $350.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Berenberg Bank set a $400.00 target price on shares of Cadence Design Systems in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group began coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They issued a "buy" rating and a $380.00 price target for the company. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $364.33.

Cadence Design Systems Company 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.