Weekly Recap: $8B backlog & >85% margins and Analyst targets $410–$470

Cadence Design Systems (NASDAQ:CDNS) posted a record ~$8B backlog, >85% gross margins and a solid balance sheet, fueling analyst target raises—from Rosenblatt to Goldman—on strong demand for its AI-enabled EDA platforms amid chip-design engineer shortages.

Previous Week Recap

• Cadence Backlog Reaches $8B: Cadence (CDNS) reported a record ~$8B backlog, gross margins above 85%, and a solid balance sheet, highlighting strong demand for its AI-enabled EDA platforms.
• Analysts Boost Cadence Targets: Analysts raised Cadence (CDNS) targets: Rosenblatt $410, Benchmark $450, Goldman Sachs $470, citing demand for AI-enabled EDA and chip design engineer shortages; prior close noted at $384.17

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