Cadence Design Systems, Inc. (NASDAQ:CDNS) – Research analysts at Griffin Securities upped their Q1 2019 earnings per share (EPS) estimates for Cadence Design Systems in a research note issued to investors on Tuesday. Griffin Securities analyst J. Vleeschhouwer now expects that the software maker will earn $0.24 per share for the quarter, up from their prior forecast of $0.23. Griffin Securities also issued estimates for Cadence Design Systems’ Q2 2019 earnings at $0.27 EPS and FY2019 earnings at $1.15 EPS.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, July 24th. The software maker reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. Cadence Design Systems had a return on equity of 27.81% and a net margin of 12.86%. The company had revenue of $479 million during the quarter, compared to analysts’ expectations of $476.21 million. During the same quarter in the previous year, the firm posted $0.29 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year.

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Several other equities analysts also recently issued reports on CDNS. Zacks Investment Research upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Thursday. Bank of America Corporation upped their price objective on shares of Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday. BidaskClub downgraded shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Royal Bank Of Canada upped their price objective on shares of Cadence Design Systems from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, DA Davidson downgraded shares of Cadence Design Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $33.67.

Shares of Cadence Design Systems (NASDAQ CDNS) traded down 1.00% during mid-day trading on Thursday, reaching $36.81. The company’s stock had a trading volume of 1,601,478 shares. The company’s 50-day moving average is $34.46 and its 200-day moving average is $31.83. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of 47.31 and a beta of 0.93. Cadence Design Systems has a 52 week low of $23.83 and a 52 week high of $37.51.

Large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Cadence Design Systems by 6,398.5% in the first quarter. BlackRock Inc. now owns 26,541,567 shares of the software maker’s stock valued at $833,406,000 after buying an additional 26,133,138 shares during the period. Vanguard Group Inc. increased its stake in shares of Cadence Design Systems by 1.1% in the first quarter. Vanguard Group Inc. now owns 23,972,591 shares of the software maker’s stock valued at $752,740,000 after buying an additional 264,529 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Cadence Design Systems by 48.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,771,026 shares of the software maker’s stock valued at $149,811,000 after buying an additional 1,549,905 shares during the period. Pictet Asset Management Ltd. increased its stake in shares of Cadence Design Systems by 11.6% in the first quarter. Pictet Asset Management Ltd. now owns 4,083,484 shares of the software maker’s stock valued at $128,221,000 after buying an additional 423,959 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Cadence Design Systems by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 3,279,262 shares of the software maker’s stock valued at $102,967,000 after buying an additional 69,677 shares during the period. Institutional investors and hedge funds own 86.35% of the company’s stock.

In other news, VP James J. Cowie sold 47,500 shares of the stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $32.13, for a total transaction of $1,526,175.00. Following the completion of the sale, the vice president now owns 140,832 shares in the company, valued at $4,524,932.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Roger S. Siboni sold 20,507 shares of the stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $32.32, for a total transaction of $662,786.24. Following the sale, the director now owns 52,701 shares of the company’s stock, valued at approximately $1,703,296.32. The disclosure for this sale can be found here. Insiders have sold 502,663 shares of company stock valued at $16,975,295 in the last quarter. Insiders own 2.55% of the company’s stock.

About Cadence Design Systems

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).

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

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