RBC Capital Initiates Coverage on Cadence Design Systems Inc to Outperform

RBC Capital Initiates Coverage on Cadence Design Systems Inc(NASDAQ:CDNS). The shares have been rated Outperform. The rating by RBC Capital was issued on Jun 6, 2016.

In a different note, On Apr 6, 2016, DA Davidson said it Downgrades its rating on Cadence Design Systems Inc. The shares have been rated ‘Neutral’ by the firm.

Cadence Design Systems Inc (CDNS) shares turned negative on Fridays trading session with the shares closing down -0.16 points or -0.64% at a volume of 19,67,869. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $24.815. The peak price level was also seen at $24.815 while the days lowest was $24.55. Finally the shares closed at $24.7. The 52-week high of the shares is $25.49 while the 52-week low is $18.133. According to the latest information available, the market cap of the company is $7,431 M.

Cadence Design Systems Inc(CDNS) last announced its earnings results on Apr 25, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $447.86M. Analysts had an estimated revenue of $444.70M. Earnings per share were $0.28. Analysts had estimated an EPS of $0.27.

Several Insider Transactions has been reported to the SEC. On Jun 3, 2016, Geoffrey G Ribar (Sr. VP, CFO) sold 100,000 shares at $24.71 per share price.Also, On May 26, 2016, Chi-ping Hsu (Sr. Vice President) sold 19,375 shares at $25.22 per share price.On May 26, 2016, James J Cowie (Sr. VP, General Counsel) sold 59,509 shares at $25.16 per share price, according to the Form-4 filing with the securities and exchange commission.

Cadence Design Systems Inc. (Cadence) develops system design enablement (SDE) solutions that are used to design whole electronics systems and integrated circuits (ICs) and electronic devices. The Company’s SDE product offerings include electronic design automation (EDA) software emulation and prototyping hardware and two categories of intellectual property (IP) verification IP (VIP) and design IP. The Company provides maintenance for its software emulation hardware and IP product offerings. It also provides engineering services related to methodology education hosted design solutions and design services for ICs and development of custom IP. The company’s customers include electronics systems and semiconductor companies Internet service providers and other technology companies that deliver a range of electronics products in market segments such as mobile and consumer devices communications cloud and data center infrastructure medical systems and other devices.

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