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

Cadence Design Systems (NASDAQ:CDNS) will be issuing its quarterly earnings data after the market closes on Monday, October 28th. Analysts expect the company to announce earnings of $1.44 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 earnings per share. On average, analysts expect Cadence Design Systems to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Cadence Design Systems Stock Down 1.7 %

Shares of Cadence Design Systems stock opened at $258.52 on Monday. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. Cadence Design Systems has a 12-month low of $228.66 and a 12-month high of $328.99. The company has a market cap of $70.43 billion, a P/E ratio of 67.32, a PEG ratio of 3.37 and a beta of 1.02. The company’s fifty day simple moving average is $269.59 and its two-hundred day simple moving average is $284.50.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Chin-Chi Teng sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $276.36, for a total value of $2,763,600.00. Following the transaction, the vice president now owns 95,408 shares in the company, valued at approximately $26,366,954.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Chin-Chi Teng sold 10,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $276.36, for a total value of $2,763,600.00. Following the completion of the transaction, the vice president now owns 95,408 shares in the company, valued at $26,366,954.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total value of $173,056.00. Following the transaction, the vice president now directly owns 65,194 shares in the company, valued at approximately $17,357,250.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,347 shares of company stock worth $7,728,272. 1.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CDNS has been the topic of several research analyst reports. Berenberg Bank assumed coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price target on the stock. Rosenblatt Securities reissued a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research report on Monday, October 7th. Needham & Company LLC restated a “buy” rating and set a $320.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 23rd. KeyCorp raised their price objective on Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Finally, Piper Sandler raised shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price on the stock in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $323.27.

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.