Analysts expect that Cadence Design Systems, Inc. (NASDAQ:CDNS) will announce sales of $718.62 million for the current quarter, Zacks reports. Four analysts have provided estimates for Cadence Design Systems’ earnings, with estimates ranging from $712.20 million to $725.00 million. Cadence Design Systems reported sales of $617.96 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.3%. The company is scheduled to report its next earnings report after the market closes on Monday, April 26th.
According to Zacks, analysts expect that Cadence Design Systems will report full-year sales of $2.89 billion for the current fiscal year, with estimates ranging from $2.87 billion to $2.90 billion. For the next year, analysts anticipate that the firm will post sales of $3.10 billion, with estimates ranging from $2.97 billion to $3.18 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Cadence Design Systems.
Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Sunday, February 21st. The software maker reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. Cadence Design Systems had a net margin of 42.68% and a return on equity of 48.31%. The business had revenue of $759.10 million during the quarter, compared to analysts’ expectations of $731.31 million. During the same period in the previous year, the business posted $0.54 EPS. The business’s quarterly revenue was up 26.6% compared to the same quarter last year.
In other news, Director James D. Plummer sold 25,000 shares of the company’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $125.40, for a total transaction of $3,135,000.00. Following the completion of the sale, the director now owns 53,674 shares of the company’s stock, valued at $6,730,719.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Aneel Zaman sold 61,936 shares of the company’s stock in a transaction on Wednesday, March 31st. The stock was sold at an average price of $135.00, for a total transaction of $8,361,360.00. Following the sale, the vice president now directly owns 155,626 shares of the company’s stock, valued at approximately $21,009,510. The disclosure for this sale can be found here. In the last three months, insiders sold 439,124 shares of company stock valued at $60,666,839. 2.58% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. CVA Family Office LLC purchased a new stake in shares of Cadence Design Systems during the first quarter worth $25,000. Baystate Wealth Management LLC grew its holdings in shares of Cadence Design Systems by 316.3% during the first quarter. Baystate Wealth Management LLC now owns 179 shares of the software maker’s stock worth $25,000 after buying an additional 136 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Cadence Design Systems during the fourth quarter worth $27,000. International Assets Investment Management LLC purchased a new stake in shares of Cadence Design Systems during the fourth quarter worth $28,000. Finally, Capital Asset Advisory Services LLC purchased a new stake in shares of Cadence Design Systems during the fourth quarter worth $28,000. 83.86% of the stock is owned by institutional investors and hedge funds.
Shares of CDNS traded down $1.79 during trading hours on Monday, hitting $139.71. The stock had a trading volume of 48,441 shares, compared to its average volume of 1,760,481. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 1.55. The firm has a 50-day moving average price of $134.96 and a 200 day moving average price of $127.94. Cadence Design Systems has a fifty-two week low of $75.27 and a fifty-two week high of $149.08. The firm has a market capitalization of $38.99 billion, a price-to-earnings ratio of 36.75, a PEG ratio of 4.64 and a beta of 1.05.
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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