Cadence Design Systems, Inc (CDNS) is scheduled to release third-quarter 2024 results on Oct. 28. The Zacks Consensus Estimate for third-quarter 2024 earnings has been unchanged in the past 60 days at $1.44 per share. The consensus mark implies an increase of 14.3% from the year-ago actual. The Zacks Consensus Estimate for third-quarter 2024 revenues is pegged at $1.18 billion, indicating a 15.7% uptick from the year-ago actual.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.CDNS’ E ...

Analysts on Wall Street project that Cadence Design Systems (CDNS) will announce quarterly earnings of $1.44 per share in its forthcoming report, representing an increase of 14.3% year over year. Revenues are projected to reach $1.18 billion, increasing 15.7% from the same quarter last year.The current level reflects a downward revision of 0.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initia ...

Core Viewpoint - Cadence Design Systems (CDNS) is anticipated to report a year-over-year increase in earnings and revenues for the quarter ended September 2024, with the earnings report expected on October 28 [1][2]. Group 1: Earnings Expectations - The consensus estimate for Cadence's quarterly earnings is $1.44 per share, reflecting a year-over-year increase of 14.3% [2]. - Expected revenues for the quarter are $1.18 billion, which is a 15.7% increase from the same quarter last year [2]. Group 2: Estimate Revisions - The consensus EPS estimate has been revised 0.16% lower over the last 30 days, indicating a reassessment by analysts [3]. - Despite the slight downward revision, the Most Accurate Estimate for Cadence is higher than the Zacks Consensus Estimate, resulting in a positive Earnings ESP of +0.69% [6][7]. Group 3: Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive Earnings ESP reading is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) [5]. - Cadence holds a Zacks Rank of 2, indicating a favorable outlook for beating the consensus EPS estimate [7]. Group 4: Historical Performance - In the last reported quarter, Cadence exceeded the expected earnings of $1.23 per share by delivering $1.28, resulting in a surprise of +4.07% [8]. - Over the past four quarters, Cadence has consistently beaten consensus EPS estimates [8]. Group 5: Industry Context - SS&C Technologies, another player in the Zacks Computer - Software industry, is expected to report earnings of $1.26 per share for the same quarter, reflecting a year-over-year change of +7.7% [10]. - SS&C's revenues are projected to be $1.44 billion, up 5.5% from the previous year, but it has a negative Earnings ESP of -0.32% [10].

The third-quarter 2024 earnings season is slowly gathering pace. The last two weeks of this month are crucial for market participants as six out of the “Magnificent 7” companies will report their quarterly financial numbers. Investors will closely monitor these results.Aside from these companies, several corporate bigwigs will report this month. We have narrowed our search to three technology giants that are set to beat on Q3 earnings results. These companies are Cadence Design Systems Inc. (CDNS) , Uber Te ...

Cadence Design Systems, Inc. (CDNS) is a leader in the electronic design automation ("EDA") space. The company’s Intelligent System Design strategy aids users to transform design concepts into reality by offering computational software, hardware and IP.In the last reported quarter, revenues of $1.061 billion topped the Zacks Consensus Estimate by 1.2% and increased 8.6% on a year-over-year basis. The figure surpassed the management’s guided range of $1.03-$1.05 billion. Expanding product portfolio as well a ...

In the latest market close, Cadence Design Systems (CDNS) reached $280.64, with a +0.39% movement compared to the previous day. This change outpaced the S&P 500's 0.21% loss on the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.05%.Shares of the maker of hardware and software products for validating chip designs have appreciated by 5.61% over the course of the past month, underperforming the Computer and Technology sector's gain of 9.62% and the S&P 500's gain of 5.94%.Market ...

On October 1, 2024, Paul Cunningham, Senior Vice President of Cadence Design Systems Inc (CDNS, Financial), sold 650 shares of the company at a price of $273.44 per share. The transaction was documented in an SEC Filing. Following this sale, the insider now owns 61,761 shares of Cadence Design Systems Inc.Cadence Design Systems Inc is a leading provider of software, hardware, and semiconductor IP that is used to design integrated circuits, systems on chips, and printed circuit boards. The company's products ...

Cadence Design Systems, Inc (NASDAQ: CDNS ) is one of the most exciting companies right now because it is critical to the AI revolution, yet it has not received as much attention as otherMy primary area of concentration will be on identifying companies of exceptional caliber, with a proven ability to reinvest capital for impressive returns. Targeting those with a market capitalization of less than $10 billion, affords ample opportunities for growth. The ideal scenario is for these companies to demonstrate a ...

Core Viewpoint - The article highlights the significant growth and potential stock splits of Synopsys and Cadence Design Systems, two leading companies in electronic design automation software, amidst the booming adoption of artificial intelligence in the semiconductor industry [1][2]. Group 1: Company Overview - Synopsys and Cadence Design Systems dominate the electronic design automation (EDA) market, each holding approximately 35% market share, with the remainder occupied by smaller players [2]. - Both companies provide essential tools for chip design, prototyping, and testing, and also offer semiconductor IP design blocks that are licensed to chip designers [2]. Group 2: Market Trends - The demand for semiconductors is increasing as more devices incorporate chips, with the AI revolution further accelerating this trend [2][3]. - More companies, including cloud hyper-scalers, are designing custom chips, leading to a rise in complexity in chip designs, which benefits Synopsys and Cadence as they help accelerate and test these designs [3]. Group 3: Financial Performance - Synopsys and Cadence have significantly outperformed the S&P 500 and Nasdaq 100 over the past five years, with Synopsys' share price reaching $506 and Cadence's at $273 [4]. - The companies have high P/E multiples, with Cadence at 71 times earnings and Synopsys at 53 times, reflecting their strong market positions and recurring revenue [6]. Group 4: Analyst Insights - Analysts believe the current valuations of Synopsys and Cadence are justified due to their growth potential, despite recent pullbacks of 15% for Cadence and 18% for Synopsys from their highs [7]. - Baird analyst Joe Vruwink has upgraded Synopsys with a price target of $663, anticipating a mid-teens growth rate, which is more optimistic than the consensus [7]. Group 5: Long-term Outlook - The long-term growth potential for Synopsys and Cadence hinges on the increasing complexity of chips and the growing trend of companies designing custom chips, driven by AI advancements [8]. - If the answers to key questions regarding AI's impact on chip growth and complexity are affirmative, these companies remain attractive long-term investments [8].

Cadence Design Systems (CDNS) stock has declined 15.8% in the past three months, underperforming its industry and the broader technology sector. Within the same time frame, the sub-industry and the Zacks Computer and Technology sector have declined 2.5% and 4.3%, respectively. It also lags the S&P 500’s growth of 2.4%.Three-Month Price PerformanceImage Source: Zacks Investment ResearchCDNS shares have been declining as the company’s guidance for the current quarter revenues and earnings per share came in lo ...