Charles Shi, an analyst from Needham, reiterated the Buy rating on Cadence Design (CDNS – Research Report). The associated price target remains the same with $325.00.
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Charles Shi has given his Buy rating due to a combination of factors. Cadence Design Systems reported a solid quarter with results that exceeded expectations, leading to a slight increase in their full-year outlook. The company’s management has observed no significant changes in customer behavior, and tariffs appear to have no direct impact on their software and hardware business.
While the exceptional performance of 2022 may not be repeated, Cadence Design Systems is expected to maintain relative stability in its earnings even if the broader economic environment worsens. The recent quarterly results have reinforced confidence in the company’s resilience. As a result, Charles Shi is largely maintaining his estimates and has set a price target of $325.
According to TipRanks, Shi is an analyst with an average return of -4.2% and a 32.02% success rate. Shi covers the Technology sector, focusing on stocks such as Cadence Design, Lam Research, and Ultra Clean Holdings.