Cadence Design Systems, Inc. (NASDAQ:CDNS) provider of electronic design automation software, is reporting third quarter earnings results on Monday 19th October 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 0.61 per share.
For the full year, analysts predict revenues of $ 2601.06 million, while looking forward to income of $ 2.54 per share.
The Company Outlook
Earnings for 3Q20 are anticipated in a range of $ 0.59 ~ $ 0.61 per share, while revenues are expected in a range of $ 630.00 million ~ $ 650.00 million
Full Year 2020 topline are forecasted in a range of$ 2,585.00 million ~ $ 2,615.00 million, where as bottomline are predicted in a range of $ 2.50 ~ $ 2.56 per share
Click Here For More Historical Outlooks Of Cadence Design Systems, Inc.
Previous Quarter Performance
Cadence Design Systems, Inc. reported income for the second quarter of $ 0.66 per share, from the revenue of $ 638.42 million. The quarterly earnings grew 15.79 percent while revenues improved 10.17 percent compared with the same quarter last year.
According to street consensus, CDNS was expected to report 2Q20 income of $ 0.52 per share from revenue of $ 592.79 million. The bottom line results beat street analysts by $ 0.14 or 26.92 percent, at the same time, top line results outshined analysts by $ 45.63 million or 7.70 percent.
Stock Performance
On Friday, shares of Cadence Design Systems, Inc. has traded high as $ 117.50 and has cracked $ 114.56 on the downward trend, reaching $ 115.69 with volume of 1.17 million shares.
According to the previous trading day, closing price of $ 115.69, representing a 125.65 % increase from the 52 week low of $ 51.39 and a 1.91 % decrease over the 52 week high of $ 118.22.
The company has a market capital of $ 32.25 billion and is part of the Technology sector and Software – Application industry.
Recent Analyst recommendations
- On 14th October 2020, maintained by UBS Group at Neutral rating, with $ 125.00 target price.
Conference Call
Cadence Design Systems, Inc. will be hosting a conference call at 5:00 PM eastern time on 19th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.cadence.com
Cadence Design Systems, Inc. provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware.
