Cadence Design raises FY23 EPS view to $5.05-$5.11 from $4.96-$5.04

Consensus $5.03. Raises FY23 revenue view to $4.05B-$4.09B from $4.03B-$4.07B, consensus $4.05B. For the second half of 2023, the company expects total revenue in the range of $2.052 billion to $2.092 billion. Second half GAAP operating margin is expected to be in the range of 30 percent to 31 percent and GAAP net income per diluted share is expected to be in the range of $1.65 to $1.71. Using the non-GAAP measures defined below, operating margin is expected to be in the range of 41 percent to 42 percent and net income per diluted share is expected to be in the range of $2.54 to $2.60.