Cadence Design Systems IncCDNS
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Q2 beat and raised guidance, plus $200M buyback

Cadence Design Systems shares have fallen 3.7% since its second-quarter earnings report, underperforming the S&P 500, despite strong results and raised guidance. The company reported non-GAAP EPS of $2.11, beating estimates by 2.9% and up 27.9% year over year, with revenues of $1.584 billion, up 24.2%. Management raised its full-year 2026 revenue outlook to $6.26-$6.34 billion and EPS to $8.05-$8.15, citing robust AI demand and a record backlog of $8.1 billion. Estimates have trended upward over the past month, with the consensus shifting 6.85%, but the stock holds a Zacks Rank #3 (Hold) and a VGM Score of D. The company also repurchased $200 million in shares during the quarter.
Cadence Design Systems IncQ2 beat and raised guidance, plus $200M buyback
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