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Cadence Design Systems Beats Second-Quarter Sales, Earnings Goals

Electronic design software maker Cadence Design Systems (CDNS) late Monday beat Wall Street’s targets for the second quarter. But CDNS stock dropped in extended trading.




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The San Jose, Calif.-based company earned an adjusted 86 cents a share on sales of $728 million in the June quarter. Analysts expected Cadence earnings of 76 cents a share on sales of $720 million. In the year-earlier period, Cadence earned 66 cents a share on sales of $638 million.

In after-hours trading on the stock market today, CDNS stock slid 0.5%, near 144.20. During the regular session Monday, CDNS stock dipped 0.5% to 144.97.

Earnings report details to follow.

CDNS stock is in the IBD Long-Term Leaders Portfolio.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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