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New Buy Rating for Cadence Design (CDNS), the Technology Giant

Tipranks - Tipranks - Wed Feb 25, 6:12AM CST

In a report released today, Joseph Quatrochi from Wells Fargo maintained a Buy rating on Cadence Design, with a price target of $375.00.

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Quatrochi covers the Technology sector, focusing on stocks such as Analog Devices, Applied Materials, and Microchip. According to TipRanks, Quatrochi has an average return of 20.8% and a 65.05% success rate on recommended stocks.

In addition to Wells Fargo, Cadence Design also received a Buy from TipRanks – OpenAI’s OpenAI Software – Application in a report issued today. However, on the same day, TipRanks – Anthropic reiterated a Hold rating on Cadence Design (NASDAQ: CDNS).

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Based on Cadence Design’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.44 billion and a net profit of $388.14 million. In comparison, last year the company earned a revenue of $1.36 billion and had a net profit of $340.21 million

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