Cadence Design Systems Inc. (NASDAQ:CDNS) – Investment analysts at DA Davidson issued their Q2 2018 earnings per share (EPS) estimates for Cadence Design Systems in a note issued to investors on Monday. DA Davidson analyst T. Diffely expects that the firm will post earnings per share of $0.26 for the quarter. DA Davidson currently has a “Buy” rating and a $30.00 target price on the stock. DA Davidson also issued estimates for Cadence Design Systems’ FY2018 earnings at $1.08 EPS.

CDNS has been the topic of a number of other reports. RBC Capital Markets reaffirmed an “outperform” rating and issued a $29.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 26th. Bank of America Corp. reissued a “buy” rating and issued a $30.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 26th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $26.75.

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

Shares of Cadence Design Systems (NASDAQ:CDNS) traded up 0.27% on Wednesday, reaching $25.99. The company had a trading volume of 1,456,628 shares. Cadence Design Systems has a 1-year low of $18.32 and a 1-year high of $26.45. The stock has a market capitalization of $7.60 billion, a P/E ratio of 30.79 and a beta of 1.14. The company’s 50 day moving average price is $25.29 and its 200-day moving average price is $24.53.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 25th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Cadence Design Systems had a return on equity of 21.48% and a net margin of 14.52%. The company had revenue of $453 million for the quarter, compared to analysts’ expectations of $449.54 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. Cadence Design Systems’s revenue was up 8.9% compared to the same quarter last year.

In related news, CFO Geoffrey G. Ribar sold 22,933 shares of Cadence Design Systems stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $24.16, for a total value of $554,061.28. Following the completion of the sale, the chief financial officer now owns 241,727 shares in the company, valued at approximately $5,840,124.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas P. Beckley sold 13,548 shares of Cadence Design Systems stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $25.00, for a total transaction of $338,700.00. Following the completion of the sale, the vice president now owns 254,736 shares of the company’s stock, valued at approximately $6,368,400. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

A number of hedge funds have recently bought and sold shares of CDNS. Invictus RG increased its stake in Cadence Design Systems by 625.9% in the second quarter. Invictus RG now owns 5,277 shares of the company’s stock valued at $128,000 after buying an additional 4,550 shares during the period. Creative Planning increased its stake in Cadence Design Systems by 56.4% in the third quarter. Creative Planning now owns 5,018 shares of the company’s stock valued at $128,000 after buying an additional 1,810 shares during the period. Daiwa Securities Group Inc. bought a new stake in Cadence Design Systems during the second quarter valued at $168,000. Mn Services Vermogensbeheer B.V. bought a new stake in Cadence Design Systems during the second quarter valued at $168,000. Finally, Penserra Capital Management LLC bought a new stake in Cadence Design Systems during the second quarter valued at $169,000. Hedge funds and other institutional investors own 85.57% of the company’s stock.

Cadence Design Systems Company Profile

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 Company’s 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.

5 Day Chart for NASDAQ:CDNS

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