Shares of Cadence Design Systems (NASDAQ:CDNS) decreased in after-market trading after the company reported Q1 results.
Quarterly Results
Earnings per share rose 38.33% over the past year to $0.83, which beat the estimate of $0.75.
Revenue of $736,028,000 up by 19.11% from the same period last year, which beat the estimate of $717,790,000.
Looking Ahead
Cadence Design Systems Sees FY21 EPS $2.99 – $3.07
Cadence Design Systems Sees FY21 Sales $2.88B-$2.93B
Conference Call Details
Date: Apr 26, 2021
Time: 05:00 PM
Recent Stock Performance
Company’s 52-week high was at $149.08
Company’s 52-week low was at $75.27
Price action over last quarter: Up 8.72%
Company Description
Cadence Design Systems was founded in 1988 after the merger of ECAD and SDA Systems. Cadence is known as an electronic design automation, or EDA, firm that specializes in developing software, hardware, and intellectual property that automates the design and verification of integrated circuits or larger chip systems. Historically, the firm’s tools have been relied on by semiconductor firms, but there has been a shift toward other nontraditional “systems” users given the development of the Internet of Things, artificial intelligence, autonomous vehicles, and cloud computing. Cadence is headquartered in Silicon Valley, has approximately 8,100 employees worldwide, and was added to the S&P 500 in late 2017.
