Cadence Design Systems (CDNS) Scheduled to Post Earnings on Tuesday

Cadence Design Systems (NASDAQ:CDNS) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, January 30th. Analysts expect the company to announce earnings of $0.39 per share for the quarter.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Thursday, October 26th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $485.40 million for the quarter, compared to analyst estimates of $481.10 million. Cadence Design Systems had a return on equity of 29.00% and a net margin of 13.45%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 earnings per share. On average, analysts expect Cadence Design Systems to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Cadence Design Systems (CDNS) opened at $45.69 on Tuesday. The stock has a market capitalization of $12,910.00, a PE ratio of 49.66, a price-to-earnings-growth ratio of 3.74 and a beta of 0.94. Cadence Design Systems has a twelve month low of $25.62 and a twelve month high of $45.86. The company has a current ratio of 1.79, a quick ratio of 1.72 and a debt-to-equity ratio of 0.64.

In related news, President Anirudh Devgan sold 44,526 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $45.01, for a total transaction of $2,004,115.26. Following the transaction, the president now owns 377,019 shares of the company’s stock, valued at $16,969,625.19. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas P. Beckley sold 43,469 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $44.09, for a total value of $1,916,548.21. Following the transaction, the insider now directly owns 225,863 shares in the company, valued at approximately $9,958,299.67. The disclosure for this sale can be found here. In the last three months, insiders have sold 350,500 shares of company stock worth $15,440,828. Corporate insiders own 2.55% of the company’s stock.

CDNS has been the topic of several research reports. DA Davidson raised their price objective on Cadence Design Systems to $43.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. They noted that the move was a valuation call. BidaskClub lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Cadence Design Systems in a report on Sunday, October 29th. Royal Bank of Canada raised their price objective on Cadence Design Systems from $39.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, October 11th. Finally, Zacks Investment Research lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $44.50.

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About Cadence Design Systems

Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).

Earnings History for Cadence Design Systems (NASDAQ:CDNS)

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