Renaissance Technologies Returns, AUM, CEO and Top 10 Semiconductor Stock Picks

7. Cadence Design Systems Inc (NASDAQ:CDNS)

Renaissance Technologies Equity Stake: $44.60 Million

Number of Hedge Fund Holders: 66

Cadence Design Systems Inc (NASDAQ:CDNS) is one of Renaissance Technologies’ top semiconductor stock picks. The stock has returned more than 20% year-to-date.

Cadence Design Systems Inc (NASDAQ:CDNS) continues to win business for its Tensilica Vision DSP technology that supports real-time signal processing. On May 11, Cadence said that Aeva has licensed the technology for use in its 4D LiDAR systems designed for industrial robotics and automotive applications.

This agreement allows Aeva to integrate Cadence’s digital signal processing technology into its systems that enable vehicles and machines to sense and understand their surroundings. Aeva’s 4D LiDAR technology is designed to detect both the position and speed of objects at the same time. According to Cadence, its DSP technology enables differentiated performance and power efficiency.

Cadence’s Tensilica DSP products are already being used in advanced driver assistance systems, radar, audio, and vision processing. The company’s business model continues to deliver strong results. In Q1 2026, Cadence’s revenue increased 17% YoY to $1.47 billion and surpassed analysts’ expectations of $1.45 billion. Adjusted EPS of $1.96 improved from $1.57 a year ago and beat the consensus estimate of $1.88. Cadence exited Q1 with a record backlog of $8 billion.

Cadence Design Systems Inc (NASDAQ:CDNS) is a foundational technology provider within the broader semiconductor industry. It provides the hardware and software tools that engineers use to design complex semiconductor integrated circuits, systems-on-chip, and printed circuit boards.