NasdaqGS:CDNSSoftware
Cadence Design Systems (CDNS) Stock Catches Up To Rising AI Backlog
Cadence Design Systems stock barely flinched after earnings. Shares were up about 1.8% to US$344.72 by the close, even as the company posted what looks like one of its cleanest quarters in years. Revenue landed at US$1.584b with non GAAP operating margin at 45.5%, powered by heavy demand for chip design and verification tools tied to artificial intelligence.
The real story for long term investors is not today’s modest price move. It is the raised full year outlook and an US$8.1b backlog that...