A look at Cadence Design Systems' Q1 2024 earnings.Cadence Design Systems (CDNS -1.74%), a player in the computational software arena, released its Q1 2024 earnings on April 22. Revenue of $1.009 billion slightly surpassed analyst expectations, but was a marginal decline from $1.022 billion in the same quarter last year. Earnings per share (EPS) fell well short of the $1.34 forecast, coming in at $1.17, a decrease from $1.29 in the year-ago quarter. Despite these mixed results, the quarter's performance sho ...

Cadence Design Systems (CDNS) reported first-quarter 2024 non-GAAP earnings per share (EPS) of $1.17, which beat the Zacks Consensus Estimate by 3.5%. However, it decreased 9.3% year over year.Revenues of $1.009 billion missed the Zacks Consensus Estimate by 0.5% and decreased 1.2% on a year-over-year basis. The top line was affected by weakness in Product & Maintenance revenues. CDNS ended the quarter with a backlog of $6 billion and current remaining performance obligations of $3.1 billion.Management prov ...

Cadence Design Systems, Inc. (NASDAQ:CDNS) Q1 2024 Earnings Conference Call April 22, 2024 5:00 PM ET Company Participants Richard Gu - VP, IR Anirudh Devgan - President and CEO John Wall - SVP and CFO Conference Call Participants Joe Vruwink - Baird Charles Shi - Needham & Company Lee Simpson - Morgan Stanley Ruben Roy - Stifel Jay Vleeschhouwer - Griffin Securities Gary Mobley - Wells Fargo Securities Jason Celino - KeyBanc Capital Markets Vivek Arya - Bank of America Securities Harlan Sur - JPMorgan Oper ...

Cadence Design Systems (CDNS) came out with quarterly earnings of $1.17 per share, beating the Zacks Consensus Estimate of $1.13 per share. This compares to earnings of $1.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.54%. A quarter ago, it was expected that this maker of hardware and software products for validating chip designs would post earnings of $1.34 per share when it actually produced earnings of $1.38, deliver ...

Exhibit 99.02 CADENCE REPORTS FIRST QUARTER 2024 CADENCE DESIGN SYSTEMS, INC. CFO COMMENTARY Q1 2024 KEY Key Takeaways Q2 2024 Outlook METRICS • Record Q1 bookings and record Q1 • Revenue : $1.03 billion - $1.05 billion backlog of approximately $6.0 • Revenue $1.009 billion • GAAP operating margin: 26.5% - 27.5% billion • Non-GAAP operating margin: 38.5% - 39.5% • GAAP operating margin 25% • Raising 2024 revenue outlook • GAAP EPS: $0.73 - $0.77 • Non-GAAP operating margin • The pending acquisition of BETA ...

Cadence Design Systems (CDNS) has been beaten down lately with too much selling pressure. While the stock has lost 13.2% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscill ...

Cadence Design Systems (CDNS) unveiled the latest Palladium Z3 Emulation and Protium X3 FPGA Prototyping systems. This is an advanced digital twin platform that is aimed at addressing the growing complexity of system and semiconductor design.These new systems will be utilized in automotive, hyperscale, networking, and mobile chip industries. The Palladium and Protium systems provide high throughput pre-silicon hardware debug and software validation. These systems are an integral part of the Cadence Verifica ...

The technology sector witnessed growth in the first quarter of 2024, driven by strong adoption of AI and machine learning amid persistent inflation that has pushed back chances of an early rate cut by the Federal Reserve.A challenging global macroeconomic environment due to continuing conflicts in the Middle East and between Russia and Ukraine negatively impacted the sector’s growth trajectory.Escalating Sino-U.S. tensions has been detrimental to the sector’s prospects. U.S. restrictions on high-tech export ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Cadence Design Systems (CDNS) .Cadence currently has an average b ...

Investors are always looking for stocks that are poised to beat at earnings season and Cadence Design Systems, Inc. (CDNS) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Cadence is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pret ...