Cadence Design Systems (NASDAQ:CDNS – Get Free Report) posted its earnings results on Monday. The software maker reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.04, Briefing.com reports. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Cadence Design Systems had a net margin of 25.68% and a return on equity of 33.53%. Cadence Design Systems’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.02 EPS.
Cadence Design Systems Price Performance
Shares of Cadence Design Systems stock opened at $281.76 on Wednesday. Cadence Design Systems has a 52-week low of $194.01 and a 52-week high of $327.36. The stock has a market capitalization of $76.71 billion, a price-to-earnings ratio of 73.38, a price-to-earnings-growth ratio of 3.47 and a beta of 1.04. The company has a fifty day moving average of $304.84 and a 200-day moving average of $280.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.13 and a current ratio of 1.24.
Insider Activity
In other news, SVP Karna Nisewaner sold 600 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $310.46, for a total value of $186,276.00. Following the completion of the sale, the senior vice president now owns 21,080 shares of the company’s stock, valued at approximately $6,544,496.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cadence Design Systems news, SVP Karna Nisewaner sold 600 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $310.46, for a total transaction of $186,276.00. Following the completion of the sale, the senior vice president now owns 21,080 shares of the company’s stock, valued at approximately $6,544,496.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $299.42, for a total transaction of $449,130.00. Following the sale, the director now directly owns 53,183 shares of the company’s stock, valued at approximately $15,924,053.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 173,044 shares of company stock valued at $52,231,207. Corporate insiders own 0.62% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Stock Report on CDNS
About Cadence Design Systems
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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