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Fly News Breaks for February 13, 2020
CDNS
Feb 13, 2020 | 09:05 EDT
Needham analyst Richard Valera raised his price target on Cadence Design to $86 and kept his Buy rating after its reported "beat and raise" in Q4 in spite of the ongoing "macro choppiness" and a significant tariff-related headwind from its China business. The analyst believes that the fundamentals on Cadence Design are "impressively healthy" with AI/Machine Learning, 5G, and autonomous driving related investment in design tools driving the company's expected market share capture.
News For CDNS From the Last 2 Days
CDNS
Apr 24, 2024 | 16:01 EDT
CDNS
Apr 23, 2024 | 06:49 EDT
Piper Sandler lowered the firm's price target on Cadence Design to $318 from $334 and keeps a Neutral rating on the shares. The firm notes the company reported solid Q1 results, but Q2 guide came below consensus on revenue and EPS. This was at odds with commentary noting a record bookings quarter, accelerating backlog growth and the FY24 revenue guide being raised by $10M at the midpoint.
