Core Insights - Cadence Design Systems (CDNS) reported total revenue of $1.06 billion for the quarter ending June 2024, reflecting an increase of 8.6% compared to previous periods [2][3] International Revenue Performance - Japan contributed $63.59 million, accounting for 6.0% of total revenue, exceeding analyst expectations of $57.7 million, and showing a growth from $51.42 million (5.1%) in the previous quarter [3] - Total revenue from Asia was $325.74 million, representing 30.7% of total revenue, but fell short of the expected $361.36 million, down from $351.01 million (35.9%) year-over-year [3] - Europe, Middle East, and Africa generated $152.52 million, making up 14.4% of total revenue, which was below the projected $171.67 million, and decreased from $166.8 million (17.1%) in the same quarter last year [4] Future Revenue Projections - Analysts project CDNS will achieve revenues of $1.18 billion for the ongoing fiscal quarter, a 15.5% increase year-over-year, with contributions expected from Japan (5.5% or $65.4 million), Total Asia (34.9% or $411.81 million), and Europe, Middle East, and Africa (16.6% or $195.62 million) [5] - For the full year, total revenue is projected at $4.61 billion, indicating a rise of 12.6% from the previous year, with regional contributions expected to be Japan (5.3% or $245.32 million), Total Asia (33.5% or $1.54 billion), and Europe, Middle East, and Africa (16.3% or $752.78 million) [5] Market Context - The reliance on international markets presents both opportunities and challenges for CDNS, necessitating close monitoring of international revenue trends to inform future projections [6] - The evolving earnings outlook is crucial for stock price movements, with a positive correlation between upward revisions in earnings estimates and stock price increases [7]

Cadence Design Systems (CDNS) reported better than expected second-quarter 2024 results, driven by broad-based customer demand. Revenues of $1.061 billion increased 8.6%, while non-GAAP earnings per share (EPS) of $1.28 improved 4.9% on a year-over-year basis. The top and the bottom line also exceeded management’s guidance.However, the company provided lower-than-expected guidance for the third quarter of 2024. It narrowed the guidance for 2024 EPS owing to the dilutive impact of the BETA CAE acquisition.Ke ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?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 brokerage ...

Cadence Design Systems Today M CDNS Cadence Design Systems $282.99 -4.09 (-1.42%) 52-Week Range $217.77 P/E Ratio 73.70 Price Target $334.56 Add to Watchlist Cadence Design Systems NASDAQ: CDNS is a software company that makes programs essential to semiconductor design. The firm announced Q2 2024 earnings on July 22, 2024. Let's break down Cadence's operations and products to get a better understanding of the business. We'll then review the earnings report. We'll finish off with what to look out for next ab ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________ FORM 10-Q _____________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-15867 _____________________________________ CADENCE D ...

EschCollection/DigitalVision via Getty Images Cadence Design Systems, Inc. (NASDAQ:CDNS), a primary player in the electronic design automation, or EDA, market alongside Synopsys (SNPS), reported its Q2 earnings for FY2024 after the bell yesterday. We reiterate our buy-rating but update our investment thesis. We wrote on CDNS back in January, forecasting “the stock outperforming the S&P 500 and SOX index in 2024” on “more optimistic [view] about CDNS' FY24 guidance as the semi-slowdown eases and WFE spen ...

Cadence Design Systems (CDNS) reported second-quarter 2024 non-GAAP earnings per share (EPS) of $1.28, which beat the Zacks Consensus Estimate by 4.1%. The bottom-line number improved 4.9% year over year and exceeded the management’s guided range of $1.20-$1.24.Revenues of $1.061 billion topped the Zacks Consensus Estimate by 1.2% and increased 8.6% on a year-over-year basis. It surpassed the management’s guided range of $1.03-$1.05 billion.The top line was driven by broad-based customer demand. CDNS ended ...

no_limit_pictures/E+ via Getty Images I gave Cadence Design Systems (NASDAQ:CDNS) a 'Hold' rating in my initiation article published in July 2023. I highlighted their leadership position in the semiconductor electronic design automation (EDA) software industry but expressed my concerns about the stock price valuation. They released their Q2 FY24 earnings on July 22nd after the market close, beating the market consensus and gaining momentum with its AI portfolio. As its stock price is overvalued, as per my c ...

Cadence Design Systems, Inc. (NASDAQ:CDNS) Q2 2024 Earnings Conference Call July 22, 2024 4:30 PM ET Company Participants Richard Gu - VP, IR Anirudh Devgan - President & CEO John Wall - SVP & CFO Conference Call Participants Charles Shi - Needham & Company Gianmarco Conti - Deutsche Bank Vivek Arya - Bank of America Securities Joshua Tilton - Wolfe Research Ruben Roy - Stifel Jay Vleeschhouwer - Griffin Securities Harlan Sur - JPMorgan Jason Celino - KeyBanc Capital Markets Lee Simpson - Morgan Stanley Cla ...

Exhibit 99.02 CADENCE REPORTS SECOND QUARTER 2024 CADENCE DESIGN SYSTEMS, INC. CFO COMMENTARY | --- | --- | --- | |------------------------------------|-----------------------------------------------|------------------------------| | Key Takeaways | Q3 2024 Outlook | Q2 2024 KEYMETRICS | | • Annual revenue growth outlook is | • Revenue: $1.165 billion - $1.195 billion | | | now 13%, including $40 million | • GAAP operating margin: 27.7% - 29.3% | • Revenue: $1.061 billion | | from BETA CAE at the midpoint | ...