Cadence Design Systems Inc (CDNS) reported quarterly earnings results on Monday, Apr-25-2016. The company said it had a profit of $0.28 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.27. The company posted revenue of $447.86 million in the period, compared to analysts expectations of $444.68 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 $0.23 EPS.
Many Wall Street Analysts have commented on Cadence Design Systems Inc. Cadence Design Systems Inc was Downgraded by DA Davidson to ” Neutral” on Apr 6, 2016. Company shares were Upgraded by DA Davidson on Feb 4, 2016 to ” Buy”, Firm has raised the Price Target to $ 25 from a previous price target of $22 .
Cadence Design Systems Inc opened for trading at $23.49 and hit $23.785 on the upside on Friday, eventually ending the session at $23.74, with a gain of 0.68% or 0.16 points. The heightened volatility saw the trading volume jump to 41,37,950 shares. Company has a market cap of $7,249 M.
In a different news, on Apr 19, 2016, Lip Bu Tan (President & CEO) sold 150,000 shares at $23.40 per share price. According to the SEC, on Apr 6, 2016, James J Cowie (Sr. VP, General Counsel) sold 3,121 shares at $23.60 per share price. On Mar 22, 2016, Thomas P Beckley (Sr. Vice President) sold 71,666 shares at $23.20 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.