Cadence Design Systems (NASDAQ:CDNS) announced its quarterly earnings data on Sunday. The software maker reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.09, MarketWatch Earnings reports. Cadence Design Systems had a return on equity of 48.31% and a net margin of 42.68%. The firm had revenue of $759.10 million for the quarter, compared to the consensus estimate of $731.31 million. During the same quarter last year, the business posted $0.54 earnings per share. The firm’s revenue was up 26.6% compared to the same quarter last year.
Shares of NASDAQ CDNS traded down $0.74 during trading on Tuesday, reaching $132.42. The stock had a trading volume of 106,462 shares, compared to its average volume of 1,503,900. Cadence Design Systems has a fifty-two week low of $51.39 and a fifty-two week high of $149.08. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 1.55. The business’s 50-day moving average price is $136.95 and its 200-day moving average price is $119.52. The company has a market cap of $36.94 billion, a P/E ratio of 34.59, a PEG ratio of 4.64 and a beta of 1.05.
In related news, President Anirudh Devgan sold 4,666 shares of the business’s stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $137.44, for a total transaction of $641,295.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lip Bu Tan sold 50,000 shares of the business’s stock in a transaction on Friday, January 15th. The stock was sold at an average price of $134.60, for a total value of $6,730,000.00. Following the transaction, the chief executive officer now directly owns 781,709 shares of the company’s stock, valued at $105,218,031.40. The disclosure for this sale can be found here. Insiders sold 155,300 shares of company stock valued at $21,171,858 over the last ninety days. Insiders own 2.58% of the company’s stock.
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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