Cadence Design Systems (NASDAQ:CDNS) announced its earnings results on Sunday. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09, MarketWatch Earnings reports. Cadence Design Systems had a net margin of 42.68% and a return on equity of 48.31%. The company had revenue of $759.10 million for the quarter, compared to analysts’ expectations of $731.31 million. During the same quarter in the previous year, the company posted $0.54 EPS. The firm’s quarterly revenue was up 26.6% on a year-over-year basis.
NASDAQ CDNS traded down $0.67 during trading hours on Tuesday, reaching $132.49. The company had a trading volume of 72,136 shares, compared to its average volume of 1,503,900. The stock has a 50-day moving average of $136.95 and a 200 day moving average of $119.52. Cadence Design Systems has a 1-year low of $51.39 and a 1-year high of $149.08. The company has a current ratio of 1.55, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $36.96 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 4.64 and a beta of 1.05.
In other Cadence Design Systems news, CEO Lip Bu Tan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $147.09, for a total value of $7,354,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Anirudh Devgan sold 5,634 shares of the company’s stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $143.16, for a total transaction of $806,563.44. Following the completion of the transaction, the president now directly owns 299,234 shares in the company, valued at approximately $42,838,339.44. The disclosure for this sale can be found here. Insiders sold 155,300 shares of company stock worth $21,171,858 in the last ninety days. 2.58% of the stock is currently owned by corporate insiders.
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 emulation platform; and Protium, a prototyping platform for chip verification.
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