Equities analysts predict that Cadence Design Systems Inc (NASDAQ:CDNS) will post $0.38 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Cadence Design Systems’ earnings. The lowest EPS estimate is $0.37 and the highest is $0.38. Cadence Design Systems posted earnings per share of $0.32 in the same quarter last year, which would suggest a positive year over year growth rate of 18.8%. The firm is expected to issue its next quarterly earnings results on Monday, April 23rd.

On average, analysts expect that Cadence Design Systems will report full-year earnings of $1.57 per share for the current year, with EPS estimates ranging from $1.55 to $1.58. For the next year, analysts forecast that the business will report earnings of $1.71 per share, with EPS estimates ranging from $1.65 to $1.77. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Cadence Design Systems.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Wednesday, January 31st. The software maker reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. The company had revenue of $501.70 million during the quarter, compared to analysts’ expectations of $496.20 million. Cadence Design Systems had a net margin of 10.50% and a return on equity of 31.28%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 earnings per share.

CDNS has been the subject of a number of research reports. DA Davidson lifted their target price on shares of Cadence Design Systems to $43.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. BidaskClub lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Friday, January 19th. Needham & Company LLC reissued a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, October 29th. Credit Suisse Group reissued a “neutral” rating and issued a $43.00 price objective (up previously from $37.00) on shares of Cadence Design Systems in a research report on Thursday, February 1st. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $46.00 price objective on shares of Cadence Design Systems in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $44.20.

In related news, CEO Lip Bu Tan sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $43.52, for a total transaction of $4,352,000.00. Following the completion of the transaction, the chief executive officer now owns 533,333 shares of the company’s stock, valued at $23,210,652.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Aneel Zaman sold 32,255 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $44.32, for a total transaction of $1,429,541.60. Following the transaction, the vice president now directly owns 217,497 shares of the company’s stock, valued at approximately $9,639,467.04. The disclosure for this sale can be found here. In the last three months, insiders sold 289,031 shares of company stock valued at $12,747,759. Company insiders own 2.55% of the company’s stock.

A number of hedge funds have recently modified their holdings of CDNS. Cerebellum GP LLC acquired a new position in Cadence Design Systems during the fourth quarter worth approximately $123,000. Advisor Group Inc. increased its position in Cadence Design Systems by 151.4% during the third quarter. Advisor Group Inc. now owns 4,160 shares of the software maker’s stock worth $165,000 after purchasing an additional 2,505 shares during the last quarter. Dupont Capital Management Corp acquired a new position in Cadence Design Systems during the third quarter worth approximately $170,000. Parkwood LLC acquired a new position in Cadence Design Systems during the third quarter worth approximately $201,000. Finally, Coldstream Capital Management Inc. acquired a new position in Cadence Design Systems during the third quarter worth approximately $207,000. 85.00% of the stock is owned by hedge funds and other institutional investors.

Shares of Cadence Design Systems (CDNS) traded up $0.86 on Friday, reaching $37.68. 3,418,544 shares of the company’s stock were exchanged, compared to its average volume of 2,489,887. The company has a current ratio of 1.53, a quick ratio of 1.47 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $10,639.32, a PE ratio of 50.92, a P/E/G ratio of 3.68 and a beta of 0.97. Cadence Design Systems has a one year low of $29.29 and a one year high of $46.00.

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Cadence Design Systems Company Profile

Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).

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Earnings History and Estimates for Cadence Design Systems (NASDAQ:CDNS)

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