Cadence Design Systems (NASDAQ:CDNS) released its earnings results on Sunday. The software maker reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09, MarketWatch Earnings reports. The firm had revenue of $759.10 million for the quarter, compared to analyst estimates of $731.31 million. Cadence Design Systems had a return on equity of 48.31% and a net margin of 42.68%. The company’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share.
CDNS stock opened at $133.16 on Tuesday. The firm has a 50 day moving average price of $136.95 and a 200-day moving average price of $119.52. Cadence Design Systems has a 52-week low of $51.39 and a 52-week high of $149.08. The firm has a market capitalization of $37.14 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 4.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 1.55.
In related news, President Anirudh Devgan sold 4,666 shares of the company’s stock in a transaction on Tuesday, February 9th. The shares were sold at an average price of $137.44, for a total value of $641,295.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Lip Bu Tan sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $147.09, for a total transaction of $7,354,500.00. The disclosure for this sale can be found here. Insiders have sold 155,300 shares of company stock valued at $21,171,858 over the last quarter. Company insiders own 2.58% of the company’s stock.
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 emulation platform; and Protium, a prototyping platform for chip verification.
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