CDNS Stock Recent News

Evaluate Cadence's (CDNS) reliance on international revenue to better understand the company's financial stability, growth prospects and potential stock price performance.

Increasing design activity and opportunities from rapid AI proliferation bode well for Cadence (CDNS). However, competition and significant exposure to the semiconductor vertical is a concern.

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?

Cadence Design Systems NASDAQ: CDNS is a software company that makes programs essential to semiconductor design. The firm announced Q2 2024 earnings on July 22, 2024.

Cadence's (CDNS) second-quarter performance benefits from robust customer demand amid increasing design activity.

Cadence Design Systems received a 'Hold' rating due to concerns about stock price valuation despite beating market consensus in Q2 earnings. CDNS's expanding AI portfolio and partnerships with key players position the company well to capture the growing demand in the EDA market. The company's FY24 outlook shows promising growth potential, with acquisitions and market leadership in key growth areas driving revenue growth.

Cadence Design Systems, Inc. (NASDAQ:CDNS ) Q2 2024 Earnings Conference Call July 22, 2024 4:30 PM ET Company Participants Richard Gu - VP, IR Anirudh Devgan - President & CEO John Wall - SVP & CFO Conference Call Participants Charles Shi - Needham & Company Gianmarco Conti - Deutsche Bank Vivek Arya - Bank of America Securities Joshua Tilton - Wolfe Research Ruben Roy - Stifel Jay Vleeschhouwer - Griffin Securities Harlan Sur - JPMorgan Jason Celino - KeyBanc Capital Markets Lee Simpson - Morgan Stanley Clarke Jeffries - Piper Sandler Joe Vruwink - Baird Operator Good afternoon. My name is Brianna, and I will be your conference operator today.

The Nasdaq came back +280 points, or +1.58% today, while small-caps once again felt their oats.

Cadence Design Systems (CDNS) came out with quarterly earnings of $1.28 per share, beating the Zacks Consensus Estimate of $1.23 per share. This compares to earnings of $1.22 per share a year ago.

Cadence Design Systems beat Wall Street's targets for the second quarter, but guided below views for the current quarter.