Investing.com - Cadence Design (NASDAQ:CDNS) reported on Monday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Cadence Design announced earnings per share of $0.6 on revenue of $618M. Analysts polled by Investing.com anticipated EPS of $0.54 on revenue of $614.81M. That with comparison to EPS of $0.54 on revenue of $576.74M in the same period a year before. Cadence Design had reported EPS of $0.54 on revenue of $599.56M in the previous quarter. Analysts are expecting EPS of $0.59 and revenue of $621.88M in the upcoming quarter.
Cadence Design shares are up 12% from the beginning of the year , still down 3.23% from its 52 week high of $80.43 set on April 17. They are outperforming the Nasdaq 100 which is down 0.86% year to date.
Cadence Design shares lost 4.92% in after-hours trade following the report.
Cadence Design follows other major Technology sector earnings this month
Cadence Design's report follows an earnings matched by Taiwan Semiconductor on Thursday, who reported EPS of $0.75 on revenue of $10.32B, compared to forecasts EPS of $0.75 on revenue of $10.32B.
Micron had beat expectations on March 25 with second quarter EPS of $0.45 on revenue of $4.8B, compared to forecast for EPS of $0.37 on revenue of $4.69B.
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