Movement Alert｜Cadence Design Rises 3.33% in Regular Trading, Q2 Beat-and-Raise Continues Post-Earnings Recovery

Market Focus07-31

On July 31, Cadence Design rose 3.33% in regular trading, trading at $340.575/share, with turnover of $62.24 million. The stock continued its post-earnings recovery following a strong Q2 report and upward revision to full-year guidance.

Cadence reported Q2 revenue of $1.584 billion, up 24% year-over-year, exceeding the consensus estimate of $1.577 billion. Adjusted EPS came in at $2.11, beating the Street estimate of $2.06 and representing approximately 28% growth. Non-GAAP operating margin expanded to 45.5% from 42.8% a year earlier, while backlog reached a record $8.1 billion. The company raised full-year guidance to adjusted EPS of $8.05-$8.15 on revenue of $6.26-$6.34 billion, above its prior range and analyst expectations. AI-driven semiconductor design tool demand and record backlog were cited as the primary reasons for the raised outlook. Citigroup subsequently raised its price target to $420 from $400, maintaining a Buy rating.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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