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Sohini Mondal

Is Wall Street Bullish or Bearish on Cadence Design Systems Stock?

Cadence Design Systems CDNS

California-based Cadence Design Systems, Inc. (CDNS) is a leading player in the electronic design automation (EDA) industry, with a market cap of $76.7 billion. The company caters to various sectors, including consumer electronics, automotive, and aerospace.

Shares of this chip design software firm have slightly underperformed the broader market over the past 52 weeks. CDNS has gained 26.5% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 27.8%. In 2024, CDNS has risen with a 4.5% YTD return, trailing behind SPX's 17.8% gain.

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