Cadence Design Systems Inc (CDNS) was Initiated by Credit Suisse to “Neutral”. Credit Suisse advised their investors in a research report released on Oct 19, 2016.
On the company’s financial health, Cadence Design Systems Inc reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 25, 2016. Analyst had a consensus of $0.28. The company had revenue of $453.02 million for the quarter, compared to analysts expectations of $449.51 million. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.
Cadence Design Systems Inc opened for trading at $26.09 and hit $26.28 on the upside on Friday, eventually ending the session at $25.99, with a gain of 0.27% or 0.07 points. The heightened volatility saw the trading volume jump to 14,56,628 shares. Company has a market cap of $7,598 M.
In a different news, on Sep 26, 2016, Thomas P Beckley (Sr. Vice President) sold 58,646 shares at $25.00 per share price. According to the SEC, on Sep 14, 2016, George Scalise (director) sold 5,000 shares at $25.27 per share price. On Aug 17, 2016, Lip Bu Tan (President & CEO) sold 150,000 shares at $24.81 per share price, according to the Form-4 filing with the securities and exchange commission.
Cadence Design Systems Inc. (Cadence) develops system design enablement (SDE) solutions that are used to design whole electronics systems and integrated circuits (ICs) and electronic devices. The Companys SDE product offerings include electronic design automation (EDA) software emulation and prototyping hardware and two categories of intellectual property (IP) verification IP (VIP) and design IP. The Company provides maintenance for its software emulation hardware and IP product offerings. It also provides engineering services related to methodology education hosted design solutions and design services for ICs and development of custom IP. The companys customers include electronics systems and semiconductor companies Internet service providers and other technology companies that deliver a range of electronics products in market segments such as mobile and consumer devices communications cloud and data center infrastructure medical systems and other devices.