Cadence Design Syste (CDNS) issued an update on its FY12 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.75-0.77 for the period. Cadence Design Syste also updated its Q4 guidance to $0.18-0.20 EPS.

Cadence Design Syste (CDNS) traded up 2.33% on Wednesday, hitting $12.71. Cadence Design Syste (CDNS) has a 52-week low of $9.73 and a 52-week high of $13.79. The company has a market cap of $3.494 billion and a price-to-earnings ratio of 31.76.

Cadence Design Syste last posted its quarterly earnings results on Wednesday, October 24th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. Analysts expect that Cadence Design Syste (CDNS) will post $0.73 EPS for the current fiscal year.

Several analysts have also recently commented on the stock. Analysts at Sidoti initiated coverage on shares of Cadence Design Syste in a research note to investors on Monday, September 10th. They set a buy rating and a $17.00 price target on the stock. Analysts at Needham & Company reiterated a buy rating on shares of Cadence Design Syste in a research note to investors on Thursday, July 26th.

Cadence Design Systems, Inc. (Cadence) develops electronic design automation (EDA), software and hardware.

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