Cadence Design Systems Analysts Raise Their Forecasts After Q4 Results
Cadence Design Systems Analysts Raise Their Forecasts After Q4 Results
For fiscal year 2024, the company said it sees revenue in the range of $4.55 billion to $4.61 billion and non-GAAP diluted net income in the range of $5.87 to $5.97 per share.Cadence Design Systems, Inc. (NASDAQ:CDNS) reported better-than-expected fourth-quarter financial results on Monday.
Cadence Design Systems, Inc.（納斯達克股票代碼：CDNS）週一公佈的第四季度財務業績好於預期。
Cadence Design posted adjusted earnings of $1.38 per share, beating market estimates of $1.33 per share. The company's quarterly sales came in at $1.07 billion versus expectations of $1.06 billion, according to data from Benzinga Pro.
Cadence Design公佈的調整後每股收益爲1.38美元，超過了市場預期的每股1.33美元。根據Benzinga Pro的數據，該公司的季度銷售額爲10.7億美元，而預期爲10.6億美元。
"Cadence delivered exceptional results for 2023, propelled by our innovative solutions and the successful execution of our Intelligent System Design strategy," said Anirudh Devgan, president and chief executive officer. "I'm thrilled about the opportunities ahead of us, particularly in AI and 3D-IC. And I look forward to continuing to drive our broad-based business momentum through our technology leadership."
總裁兼首席執行官Anirudh Devgan表示：“在我們的創新解決方案和智能系統設計戰略的成功執行的推動下，Cadence在2023年取得了非凡的業績。”“我對我們面前的機會感到非常興奮，尤其是在人工智能和3D-IC領域。我期待通過我們的技術領先地位繼續推動我們廣泛的業務勢頭。”
For fiscal year 2024, the company said it sees revenue in the range of $4.55 billion to $4.61 billion and non-GAAP diluted net income in the range of $5.87 to $5.97 per share.
該公司表示，預計2024財年的收入在45.5億美元至46.1億美元之間，非公認會計准則攤薄後的每股淨收益在5.87美元至5.97美元之間。
Cadence Design Systems shares fell 1.7% to close at $306.58 on Monday.
週一，Cadence Design Systems股價下跌1.7％，收於306.58美元。
These analysts made changes to their price targets on Cadence Design Systems after the company reported quarterly results.
在Cadence Design Systems公佈季度業績後，這些分析師更改了公司的目標股價。
- Keybanc increased the price target on Cadence Design Systems from $325 to $335. Keybanc analyst Jason Celino maintained an Overweight rating.
- Needham boosted the price target on Cadence Design Systems from $315 to $320. Needham analyst Charles Shi maintained a Buy rating.
- Rosenblatt raised the price target on Cadence Design Systems from $265 to $280. Rosenblatt analyst Blair Abernethy downgraded the stock from Buy to Neutral.
- Keybanc將Cadence Design Systems的目標股價從325美元上調至335美元。Keybanc分析師傑森·塞利諾維持增持評級。
- 尼德姆將Cadence Design Systems的目標股價從315美元上調至320美元。尼德姆分析師查爾斯·施維持買入評級。
- 羅森布拉特將Cadence Design Systems的目標股價從265美元上調至280美元。羅森布拉特分析師布萊爾·阿伯內西將該股的評級從買入下調至中性。
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