Cadence Design Systems (NASDAQ:CDNS – Get Free Report) released its earnings results on Monday. The software maker reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.04, Briefing.com reports. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Cadence Design Systems had a return on equity of 33.53% and a net margin of 25.68%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 EPS.
Cadence Design Systems Stock Down 1.1 %
Cadence Design Systems stock opened at $281.76 on Wednesday. The firm has a market cap of $76.71 billion, a price-to-earnings ratio of 73.38, a PEG ratio of 3.47 and a beta of 1.04. The stock has a fifty day simple moving average of $304.84 and a two-hundred day simple moving average of $280.99. Cadence Design Systems has a 12 month low of $194.01 and a 12 month high of $327.36. The company has a current ratio of 1.24, a quick ratio of 1.13 and a debt-to-equity ratio of 0.09.
Insiders Place Their Bets
In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction on Monday, April 15th. The stock was sold at an average price of $308.83, for a total value of $463,245.00. Following the completion of the sale, the director now owns 50,183 shares of the company’s stock, valued at approximately $15,498,015.89. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $308.83, for a total value of $463,245.00. Following the transaction, the director now directly owns 50,183 shares in the company, valued at approximately $15,498,015.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Karna Nisewaner sold 600 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $310.46, for a total value of $186,276.00. Following the completion of the transaction, the senior vice president now owns 21,080 shares in the company, valued at $6,544,496.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 173,044 shares of company stock valued at $52,231,207. Corporate insiders own 0.62% of the company’s stock.
Analyst Ratings Changes
Read Our Latest 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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