Cadence Design Systems (NASDAQ:CDNS – Get Free Report) posted its quarterly earnings data on Monday. The software maker reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06, Briefing.com reports. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. Cadence Design Systems’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 earnings per share.
Cadence Design Systems Stock Performance
CDNS opened at $287.08 on Tuesday. The company has a market cap of $78.21 billion, a price-to-earnings ratio of 74.76, a PEG ratio of 3.43 and a beta of 1.03. The company’s fifty day moving average price is $302.87 and its two-hundred day moving average price is $298.12. Cadence Design Systems has a 1-year low of $217.77 and a 1-year high of $328.99. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.08.
Insider Buying and Selling
In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $314.57, for a total value of $471,855.00. Following the completion of the sale, the director now directly owns 46,551 shares of the company’s stock, valued at $14,643,548.07. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Chin-Chi Teng sold 32,184 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $297.45, for a total value of $9,573,130.80. Following the transaction, the vice president now owns 95,408 shares in the company, valued at approximately $28,379,109.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $314.57, for a total value of $471,855.00. Following the sale, the director now directly owns 46,551 shares of the company’s stock, valued at $14,643,548.07. The disclosure for this sale can be found here. Insiders have sold 50,134 shares of company stock worth $14,987,093 in the last quarter. Insiders own 1.99% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Stock Analysis 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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