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Cadence Design Systems Stock Q1 2026 Earnings: Every Segment Grew Double Digits
Cadence Design Systems (CDNS) reported strong Q1 2026 earnings with a 19% year-over-year revenue increase to $1.474 billion and a record $8 billion backlog. All three business segments—Core EDA, IP, and System Design and Analysis—achieved double-digit growth, driven by AI and HPC demand. The company raised its full-year 2026 guidance for both revenue and non-GAAP EPS, while its TIKR model price target suggests an implied upside of 101%.