Cadence Design Systems (NASDAQ:CDNS – Get Free Report) issued its quarterly earnings data on Monday. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06, Briefing.com reports. Cadence Design Systems had a return on equity of 31.52% and a net margin of 25.36%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the firm earned $0.94 EPS. Cadence Design Systems’s quarterly revenue was up 8.6% compared to the same quarter last year.
Cadence Design Systems Stock Down 5.9 %
Shares of Cadence Design Systems stock traded down $16.65 on Wednesday, reaching $266.34. 3,075,203 shares of the company were exchanged, compared to its average volume of 1,603,557. Cadence Design Systems has a one year low of $217.77 and a one year high of $328.99. The company has a market capitalization of $72.56 billion, a price-to-earnings ratio of 73.70, a PEG ratio of 3.51 and a beta of 1.03. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $302.86 and a 200 day moving average of $298.33.
Insider Transactions at Cadence Design Systems
In other news, SVP Karna Nisewaner sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $275.36, for a total transaction of $165,216.00. Following the sale, the senior vice president now owns 20,480 shares in the company, valued at approximately $5,639,372.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $287.14, for a total transaction of $430,710.00. Following the transaction, the director now directly owns 49,551 shares of the company’s stock, valued at approximately $14,228,074.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Karna Nisewaner sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $275.36, for a total value of $165,216.00. Following the transaction, the senior vice president now directly owns 20,480 shares in the company, valued at $5,639,372.80. The disclosure for this sale can be found here. Insiders have sold a total of 50,134 shares of company stock worth $14,987,093 in the last 90 days. Corporate insiders own 1.99% of the company’s stock.
Analyst Upgrades and Downgrades
View Our Latest Stock 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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