Intraday Movers: Cadence Design Systems, Inc. (NASDAQ: CDNS)


On Monday, Shares of Cadence Design Systems, Inc. (NASDAQ: CDNS) rose 2.05% to $151.10. The stock recorded $147.21 as its minimum price and hit the max level of $151.35, during its most recent trading session. It traded total volume of 2,347,249 shares higher than the average volume of 1.81M shares. Cadence Design Systems (CDNS), a maker of electronic systems design software, late Monday handily beat Wall Street’s targets for the first quarter amid healthy semiconductor design activity. It also guided higher for the current quarter and full year. CDNS stock rose in extended trading.

The San Jose, Calif.-based company earned an adjusted $1.17 a share on sales of $902.00M in the March quarter. Analysts had expected Cadence earnings of $1.02 a share on sales of $857.00M, according to FactSet. On a year-over-year basis, Cadence earnings rose 41.00 percent while sales climbed 22.50 percent.

For the current quarter, Cadence predicts adjusted earnings of 97 cents a share on sales of $8350M. That’s based on the midpoint of its outlook. Analysts were forecasting earnings of 92 cents a share on sales of $8240M in the second quarter, FactSet said.

For the full year, Cadence now expects to earn an adjusted $3.93 a share on sales of $3.42B. Analysts were looking for earnings of $3.76 a share on sales of $3.36B.

CDNS Stock Jumps

In after-hours trading on the stock market today, CDNS stock jumped 4.90 percent, near 158.50. During the regular session Monday, CDNS stock rose 2.10 percent to close at 151.10.

“Q1 was a strong start of the year for Cadence, as we delivered outstanding results driven by broad-based strength across our diverse product portfolio,” Chief Executive Anirudh Devgan said in a news release.

He added, “Our Intelligent System Design strategy aligns well with the generational secular trends that are fueling robust design activity, and our innovative solutions are accelerating growth in both our core and our new systems businesses across a rapidly expanding customer base.”

Cadence offers a suite of software for designing and verifying integrated circuits and other electronic systems.

CDNS has the market capitalization of $44.64B and its EPS growth ratio for the past five years was 29.10%. The return on assets ratio of the Company was 16.60% while its return on investment ratio stands at 22.90%. Price to sales ratio was 14.94 while 87.60% of the stock was owned by institutional investors.

About Jessica Larson

I am Jessica Larson Senior News Writer for I covers TECHNOLOGY sector and writes about hot Financial companies from an exclusive and “out of the box” perspective. Over the 7.0 years, I have built a network of resources within the financial sector I writes about. I hold MS degree in the field of Finance. My most recent work incorporates a promoting article on the portable site plan that objectives organizations hoping to make their sites amicable to versatile clients. The greater part of my articles mixes some type of examination with the composition process itself. I work on a full-time basis for Alpha FinStocks Update specializing in quicker moving active shares with a short-term view on investment opportunities and trends. I have been active in the markets for some years, and I mainly focused on long/short equities. Exceptionally qualified Senior Business Writer with over 7.00 years of showed involvement in marketable strategies and awards.

View all posts by Jessica Larson →

Leave a Reply

Your email address will not be published. Required fields are marked *