Recap: Cadence Design Systems Q2 Earnings

Shares of Cadence Design Systems CDNS rose after the company reported Q2 results.

Quarterly Results

Earnings per share were up 30.30% over the past year to $0.86, which beat the estimate of $0.76.

Revenue of $728,285,000 up by 14.08% year over year, which beat the estimate of $721,160,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Cadence Design Systems hasn't issued any revenue guidance for the time being.

How To Listen To The Conference Call

Date: Jul 26, 2021

Time: 05:00 PM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fwww.cadence.com%2F&eventid=3193384&sessionid=1&key=81182AB318640D6935B2C7D6FC486A25&regTag=&V2=false&sourcepage=register

Technicals

Company's 52-week high was at $149.08

Company's 52-week low was at $97.45

Price action over last quarter: Up 9.21%

Company Overview

Cadence Design Systems was founded in 1988 after the merger of ECAD and SDA Systems. Cadence is known as an electronic design automation, or EDA, firm that specializes in developing software, hardware, and intellectual property that automates the design and verification of integrated circuits or larger chip systems. Historically, semiconductor firms have relied on the firm's tools, but there has been a shift toward other nontraditional "systems" users given the development of the Internet of Things, artificial intelligence, autonomous vehicles, and cloud computing. Cadence is headquartered in Silicon Valley, has approximately 8,100 employees worldwide, and was added to the S&P 500 in late 2017.