Cadence Design Systems (NASDAQ:CDNS – Get Free Report) released its quarterly earnings results on Monday. The software maker reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.04, Briefing.com reports. Cadence Design Systems had a net margin of 25.68% and a return on equity of 33.53%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the business earned $1.02 EPS. The company’s revenue was down 1.2% compared to the same quarter last year.
Cadence Design Systems Stock Down 1.1 %
CDNS 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 company has a quick ratio of 1.13, a current ratio of 1.24 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $76.71 billion, a PE ratio of 73.38, a price-to-earnings-growth ratio of 3.47 and a beta of 1.04. The firm has a 50 day moving average of $304.84 and a 200 day moving average of $280.99.
Insiders Place Their Bets
In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $308.83, for a total transaction of $463,245.00. Following the completion of the transaction, the director now directly owns 50,183 shares of the company’s stock, valued at approximately $15,498,015.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $310.46, for a total transaction of $310,460.00. Following the completion of the transaction, the vice president now directly owns 68,144 shares of the company’s stock, valued at approximately $21,155,986.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $308.83, for a total transaction of $463,245.00. Following the transaction, the director now directly owns 50,183 shares of the company’s stock, valued at $15,498,015.89. The disclosure for this sale can be found here. In the last ninety days, insiders sold 173,044 shares of company stock valued at $52,231,207. 0.62% of the stock is owned by insiders.
Analysts Set New Price Targets
Read 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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