Cadence Design Systems (NASDAQ:CDNS – Get Free Report) issued its earnings results on Monday. The software maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.44 by $0.20, Briefing.com reports. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the business posted $1.01 EPS. The company’s revenue was up 18.8% compared to the same quarter last year.
Cadence Design Systems Stock Up 12.5 %
NASDAQ CDNS opened at $284.45 on Wednesday. The stock’s 50-day moving average price is $266.90 and its 200-day moving average price is $281.98. The company has a market capitalization of $77.49 billion, a P/E ratio of 74.08, a price-to-earnings-growth ratio of 3.03 and a beta of 1.02. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.23. Cadence Design Systems has a 52 week low of $230.65 and a 52 week high of $328.99.
Insider Buying and Selling
In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total transaction of $425,490.00. Following the transaction, the director now owns 42,051 shares of the company’s stock, valued at $11,928,186.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total transaction of $173,056.00. Following the sale, the vice president now owns 65,194 shares in the company, valued at $17,357,250.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total transaction of $425,490.00. Following the transaction, the director now owns 42,051 shares of the company’s stock, valued at approximately $11,928,186.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,347 shares of company stock valued at $7,728,272. 1.99% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on Cadence Design Systems
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.
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