Equities research analysts predict that Cadence Design Systems Inc (NASDAQ:CDNS) will post $0.38 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Cadence Design Systems’ earnings, with the highest EPS estimate coming in at $0.38 and the lowest estimate coming in at $0.37. Cadence Design Systems reported earnings per share of $0.32 in the same quarter last year, which indicates a positive year over year growth rate of 18.8%. The company is expected to issue its next earnings report on Monday, April 23rd.
On average, analysts expect that Cadence Design Systems will report full-year earnings of $1.57 per share for the current financial year, with EPS estimates ranging from $1.55 to $1.58. For the next financial year, analysts anticipate that the firm will post earnings of $1.71 per share, with EPS estimates ranging from $1.65 to $1.77. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Cadence Design Systems.
Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Wednesday, January 31st. The software maker reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. The firm had revenue of $501.70 million for the quarter, compared to the consensus estimate of $496.20 million. Cadence Design Systems had a net margin of 10.50% and a return on equity of 31.28%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 earnings per share.
In other Cadence Design Systems news, Director John B. Shoven sold 50,000 shares of the stock in a transaction on Monday, January 8th. The shares were sold at an average price of $45.00, for a total transaction of $2,250,000.00. Following the sale, the director now directly owns 196,189 shares of the company’s stock, valued at $8,828,505. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anirudh Devgan sold 44,526 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $45.01, for a total transaction of $2,004,115.26. Following the sale, the president now directly owns 377,019 shares in the company, valued at $16,969,625.19. The disclosure for this sale can be found here. Insiders have sold 162,110 shares of company stock worth $7,016,878 over the last three months. 2.55% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Cadence Design Systems by 15.4% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 41,301 shares of the software maker’s stock worth $1,630,000 after acquiring an additional 5,500 shares during the period. Barings LLC increased its holdings in shares of Cadence Design Systems by 88.6% in the 4th quarter. Barings LLC now owns 79,400 shares of the software maker’s stock worth $3,321,000 after acquiring an additional 37,300 shares during the period. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Cadence Design Systems in the 4th quarter worth about $611,000. Camelot Portfolios LLC increased its holdings in shares of Cadence Design Systems by 21.3% in the 4th quarter. Camelot Portfolios LLC now owns 11,402 shares of the software maker’s stock worth $477,000 after acquiring an additional 2,000 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Cadence Design Systems by 3.5% in the 4th quarter. BlackRock Inc. now owns 19,696,293 shares of the software maker’s stock worth $823,698,000 after acquiring an additional 659,728 shares during the period. 86.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ CDNS opened at $36.98 on Tuesday. Cadence Design Systems has a 12-month low of $30.86 and a 12-month high of $46.00. The stock has a market capitalization of $10,389.09, a price-to-earnings ratio of 33.96, a price-to-earnings-growth ratio of 3.58 and a beta of 1.14. The company has a current ratio of 1.53, a quick ratio of 1.47 and a debt-to-equity ratio of 0.65.
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About Cadence Design Systems
Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).
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