Cadence Design Systems (NASDAQ:CDNS) released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $731.31 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The business’s quarterly revenue was up 26.6% compared to the same quarter last year.
NASDAQ CDNS opened at $133.16 on Tuesday. Cadence Design Systems has a 12 month low of $51.39 and a 12 month high of $149.08. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.55 and a quick ratio of 1.51. The company has a market capitalization of $37.14 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 4.64 and a beta of 1.05. The company’s fifty day moving average price is $136.95 and its two-hundred day moving average price is $119.52.
In other news, President Anirudh Devgan sold 4,666 shares of the firm’s stock in a transaction dated Tuesday, February 9th. The shares were sold at an average price of $137.44, for a total value of $641,295.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Lip Bu Tan sold 50,000 shares of the firm’s stock in a transaction dated 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 a total of 155,300 shares of company stock worth $21,171,858 over the last quarter. 2.58% of the stock is currently owned by 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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