Cadence Design Systems (CDNS) Releases Q4 2018 Earnings Guidance

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Cadence Design Systems (NASDAQ:CDNS) updated its fourth quarter 2018 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.46-0.48 for the period, compared to the Thomson Reuters consensus estimate of $0.42. The company issued revenue guidance of $545-555 million, compared to the consensus revenue estimate of $529.63 million.Cadence Design Systems also updated its FY 2018 guidance to $1.80-1.82 EPS.

A number of equities research analysts have issued reports on CDNS shares. Benchmark upgraded shares of Cadence Design Systems from a hold rating to a buy rating in a research note on Tuesday. JPMorgan Chase & Co. upgraded shares of Cadence Design Systems from an underweight rating to a neutral rating in a research note on Tuesday. Zacks Investment Research downgraded shares of Cadence Design Systems from a strong-buy rating to a hold rating in a research note on Tuesday, June 26th. BidaskClub downgraded shares of Cadence Design Systems from a buy rating to a hold rating in a research note on Tuesday, July 31st. Finally, Credit Suisse Group increased their price objective on shares of Cadence Design Systems from $44.00 to $46.00 and gave the stock a neutral rating in a research note on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Cadence Design Systems currently has an average rating of Hold and a consensus price target of $48.43.

Shares of Cadence Design Systems stock opened at $40.61 on Tuesday. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of 38.31, a PEG ratio of 3.35 and a beta of 1.13. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.26 and a current ratio of 1.30. Cadence Design Systems has a 12-month low of $35.49 and a 12-month high of $47.40.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 22nd. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.08. The firm had revenue of $532.47 million for the quarter, compared to the consensus estimate of $516.50 million. Cadence Design Systems had a net margin of 10.62% and a return on equity of 28.38%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. On average, analysts predict that Cadence Design Systems will post 1 EPS for the current fiscal year.

In other news, CEO Lip Bu Tan sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $45.33, for a total value of $4,533,000.00. Following the sale, the chief executive officer now directly owns 552,813 shares in the company, valued at approximately $25,059,013.29. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Anirudh Devgan sold 20,476 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $45.73, for a total transaction of $936,367.48. Following the completion of the sale, the president now owns 335,170 shares in the company, valued at $15,327,324.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,445 shares of company stock worth $6,070,163. 2.28% of the stock is currently owned by corporate insiders.

About Cadence Design Systems

Cadence Design Systems, Inc provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis 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 simulation platform; Palladium Z1, a verification computing platform; and Protium S1 field-programmable gate array prototyping platform.

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

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