Cadence Design Systems Aktie News

Shares of Cadence Design Systems (CDNS) shares climbed more than 12% on Tuesday to notch the top daily performance of any S&P 500 stock after the electronic design automation firm posted strong quarterly results and boosted its full-year guidance.

Cadence blew its Q3 earnings estimates out of the water, and management forecast an even better Q4.

I rate Cadence a BUY due to its solid business model, strong growth prospects, and robust free cash flow supporting share buybacks. Recent 3Q24 results and 4Q24 guidance indicate a resurgence in demand, with expected revenue growth accelerating to 26% in 4Q24. Cadence's valuation remains reasonable at 37x P/cash earnings for YE25, with a potential YE26 target of $374, maintaining the current ma...

Cadence Design Systems, Inc. (NASDAQ:CDNS ) Q3 2024 Earnings Call Transcript October 28, 2024 5:00 PM ET Company Participants Richard Gu - VP of IR Anirudh Devgan - President and CEO John Wall - SVP and CFO Conference Call Participants Joe Vruwink - Baird Jason Celino - KeyBanc Capital Markets Gianmarco Conti - Deutsche Bank Lee Simpson - Morgan Stanley Charles Shi - Needham Jay Vleeschhouwer -...

Cadence Design Systems raised the midpoint of its annual profit forecast on Monday, betting on the boom in generative AI to drive demand for its software used to design complex chips that power those systems, sending its shares up 6.4% in extended trading.

Cadence Design Systems crushed Wall Street's targets for the third quarter and raised its profit outlook for the full year.

SAN JOSE, Calif.--(BUSINESS WIRE)--Cadence Reports Third Quarter 2024 Financial Results.

The recent action also marks a 3-weeks-tight pattern.