FILE PHOTO:The logo of Cadence Design Systems is pictured outside the company's offices in San Jose, California, U.S., January 31, 2020.
REUTERS/Stephen Nelli/File Photo Acquire Licensing RightsOct 23 (Reuters) - Cadence Design Systems (CDNS.O) forecast fourth-quarter revenue and adjusted profit below Wall Street estimates on Monday, as slower R&D spending by semiconductor firms navigating a tough economy weighs on the chip design software provider.
A slower-than-expected chip industry recovery has a cascading impact on firms like Cadence, which makes software tools and hardware that help produce blueprints for chips before they are mass manufactured.
Cadence expects current-quarter adjusted profit per share in the range of $1.30 to $1.36.
Analysts had expected adjusted profit of $1.37 per share, as per LSEG data.
Persons:
Stephen Nelli, Akshita Toshniwal, Chavi Mehta, Shailesh
Organizations:
Cadence Design Systems, REUTERS, Wall, Cadence, Revenue, Thomson
Locations:
San Jose , California, U.S, Beijing, China, Bengaluru