Cadence Design Systems Shares Slide 1.6% Despite 2.4% Monthly Gain, Q1 EPS Seen at $1.89
Shares of Cadence Design Systems dropped 1.6% yesterday, underperforming the S&P’s 0.21% decline while its one-month gain of 2.4% outpaced a 3.0% sector slump. Analysts anticipate Q1 EPS of $1.89 (20.4% YoY growth) on $1.43B revenue, with full-year EPS projection of $8.10 (+13.5%).
1. Daily Performance
Cadence shares closed down 1.6% at $293.29, underperforming the S&P 500’s 0.21% drop, the Dow’s 0.07% slide and trailing the Nasdaq’s 0.01% gain in the latest session.
2. One-Month Trend
Over the past month, shares have risen 2.42% while the Computer & Technology sector dropped 3.04% and the S&P 500 fell 2.26%, indicating relative strength in chip design validation software.
3. Upcoming Earnings Forecast
Analysts expect Q1 earnings per share of $1.89, up 20.38% year-over-year on revenue of $1.43 billion, a 15.02% increase. Full-year projections call for EPS of $8.10 (+13.45%) on $5.98 billion revenue (+12.9%).
4. Valuation and Analyst Metrics
Cadence trades at a forward P/E of 36.79 versus an 18.56 industry average and a PEG of 2.87 compared to industry 1.55. The Zacks Rank stands at #3 (Hold), with consensus EPS estimates slipping 0.46% over the past month.