Cadence Design Systems Inc (CDNS) reported quarterly earnings results on Monday, Jul-25-2016. The company said it had a profit of $0.29 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 $0.28. The company posted revenue of $453.02 million in the period, 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.
Many Wall Street Analysts have commented on Cadence Design Systems Inc. Cadence Design Systems Inc was Downgraded by Needham to ” Hold” on Jun 14, 2016. RBC Capital Mkts Initiated Cadence Design Systems Inc on Jun 6, 2016 to “Outperform”, Price Target of the shares are set at $29.
Cadence Design Systems Inc opened for trading at $26 and hit $26.23 on the upside on Wednesday, eventually ending the session at $26.11, with a gain of 0.81% or 0.21 points. The heightened volatility saw the trading volume jump to 31,29,544 shares. Company has a market cap of $7,856 M.
In a different news, on Jul 19, 2016, Lip Bu Tan (President & CEO) sold 25,000 shares at $25.59 per share price. According to the SEC, on Jul 14, 2016, Chi-ping Hsu (Sr. Vice President) sold 3,750 shares at $25.60 per share price. On Jul 7, 2016, James J Cowie (Sr. VP, General Counsel) sold 3,121 shares at $24.23 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.