Investing.com - Cadence Design reported on Monday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Cadence Design announced earnings per share of $0.83 on revenue of $736M. Analysts polled by Investing.com anticipated EPS of $0.7493 on revenue of $717.95M.
Cadence Design shares are up 5% from the beginning of the year , still down 3.18% from its 52 week high of $148.98 set on Tuesday, February 16, 2021. They are under-performing the S&P 500 which is up 11.53% year to date.
Cadence Design follows other major Technology sector earnings this month
Cadence Design's report follows an earnings beat by Taiwan Semiconductor on Wednesday, April 14, 2021, who reported EPS of $0.9497 on revenue of $12.77B, compared to forecasts EPS of $0.9247 on revenue of $12.78B.
Intel had beat expectations on Thursday with first quarter EPS of $1.39 on revenue of $18.57B, compared to forecast for EPS of $1.15 on revenue of $17.79B.
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