Cadence Design Syste (CDNS) Updates FY12 Earnings Guidance
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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