$CDNS Cadence Design Systems beats and Raises
$entry level $70.50 = Price target $79.00 = Stop loss $68.00
Technically very bullish and on the fundamentals of the recent earnings a rally looks imminent.
Earnings summary.
Cadence Design Systems (NASDAQ:CDNS) +5.2% reports Q3 beats with in-line Q4 guidance that sees $590-600M (consensus: $592.8M) in revenue and $0.52-0.54 EPS (consensus: $0.52).
The FY19 guidance has revenue of $2.327B to $2.337B (consensus: $2.33B) and boosts EPS to $2.18-2.20 (was: $2.11-2.17; consensus: $2.16).
Q3 operating margin was 32%, flat on the year.
Product and maintenance revenue was $548.1M versus the $494M in last year's quarter. Services revenue was $31.5M, down from $37.5M. Source Seekingalpha.
P/E high 44, high but acceptable in growth stock.
Average analysts price target $74.18 | Overweight = expect upgrades int he days to come.
Company profile
Cadence Design Systems, Inc. engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP. The company was founded by Alberto Sangiovanni-Vincentelli, Gudmundur A. Hjartarson, K. Bobby Chao, and K. Charles Janac in June 1988 and is headquartered in San Jose, CA.
Technically very bullish and on the fundamentals of the recent earnings a rally looks imminent.
Earnings summary.
Cadence Design Systems (NASDAQ:CDNS) +5.2% reports Q3 beats with in-line Q4 guidance that sees $590-600M (consensus: $592.8M) in revenue and $0.52-0.54 EPS (consensus: $0.52).
The FY19 guidance has revenue of $2.327B to $2.337B (consensus: $2.33B) and boosts EPS to $2.18-2.20 (was: $2.11-2.17; consensus: $2.16).
Q3 operating margin was 32%, flat on the year.
Product and maintenance revenue was $548.1M versus the $494M in last year's quarter. Services revenue was $31.5M, down from $37.5M. Source Seekingalpha.
P/E high 44, high but acceptable in growth stock.
Average analysts price target $74.18 | Overweight = expect upgrades int he days to come.
Company profile
Cadence Design Systems, Inc. engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP. The company was founded by Alberto Sangiovanni-Vincentelli, Gudmundur A. Hjartarson, K. Bobby Chao, and K. Charles Janac in June 1988 and is headquartered in San Jose, CA.