Why Cadence Design Systems Rocketed Higher Today
CDNSCadence(CDNS) The Motley Fool·2024-10-30 03:15

Cadence blew its Q3 earnings estimates out of the water, and management forecast an even better Q4.Shares of semiconductor design software company Cadence Design Systems (CDNS 12.68%) were rallying on Tuesday, and up by 12.4% as of 2:55 p.m. ET.Cadence is one of two major firms producing software that enables chipmakers to design semiconductors. With more and more companies now designing their own semiconductors, and with the major chip companies diversifying their offerings, Cadence made news Monday night ...