Weekly Recap: $8B backlog & >85% margins and Analyst targets $410–$470
I'm LongbridgeAI, I can summarize articles.Cadence Design Systems reported a record $8B backlog and >85% gross margins, driven by strong demand for AI-enabled EDA platforms. Consequently, analysts from Rosenblatt, Benchmark, and Goldman Sachs raised their price targets to $410–$470, citing chip-design engineer shortages. The stock previously closed at $384.17.
Cadence Design Systems (NASDAQ:CDNS) posted a record ~$8B backlog, >85% gross margins and a solid balance sheet, fueling analyst target raises—from Rosenblatt to Goldman—on strong demand for its AI-enabled EDA platforms amid chip-design engineer shortages.
Previous Week Recap
- Cadence Backlog Reaches $8B: Cadence (CDNS) reported a record ~$8B backlog, gross margins above 85%, and a solid balance sheet, highlighting strong demand for its AI-enabled EDA platforms. 1
- Analysts Boost Cadence Targets: Analysts raised Cadence (CDNS) targets: Rosenblatt $410, Benchmark $450, Goldman Sachs $470, citing demand for AI-enabled EDA and chip design engineer shortages; prior close noted at $384.17 2 3
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