Published on 29 May 2024 on Zacks via Yahoo Finance
Cadence (CDNS) Surges 26.2% in a Year: Will the Trend Last?
Cadence Design Systems, Inc CDNS is continuing its upward trajectory, with a gain of 26.2% in the past year compared with the S&P 500 composite’s growth of 26.1%.Based in San Jose, CA, Cadence is a leader in the electronic system design space. The company’s Intelligent System Design strategy aids users to transform design concepts into reality by offering computational software, hardware and IP. Cadence’s core electronic design automation software and services enable engineers to develop different types of ICs.
Solid financial performance is driving a good run on the trading front. The stock has gained 3.9% since announcing solid first-quarter 2024 results on Apr 22.