Cadence Design has nearly achieved the target price from our last report after the company delivered yet another all-around beat. The company’s core product and maintenance revenues which account for 94.5% of the top-line grew by 14.4% on a year-on-year basis with Custom IC Design & Simulation, Digital IC Design & Signoff, and Functional Verification demonstrating a growth of more than 20%. The company’s Palladium and Protium platforms witnessed an excellent momentum with 15 new deal signups and ....
