Stifel Raises Price Target for Cadence Design (CDNS) Following Intel Foundry Partnership

Cadence Design Systems Inc. (NASDAQ:CDNS) ranks among the best 5G stocks to buy right now. On June 9, Stifel maintained its Buy rating on Cadence Design Systems Inc. (NASDAQ:CDNS) and increased its price target from $395 to $432, citing Cadence’s announcement of a multi-year Design Technology Co-Optimization partnership with Intel Foundry aimed at Intel 14A.

Stifel sees the announcement as progressively positive to Cadence Design Systems Inc. (NASDAQ:CDNS) in a number of ways, such as confirming the strategic worth of the company’s Design IP solutions and agentic AI-based applications in developing cutting-edge operations.

Additionally, Cadence Design Systems Inc. (NASDAQ:CDNS) revealed on June 1 that it was launching the very first fully autonomous virtual engineer for semiconductor development in the field at Computex 2026. The system runs in the NVIDIA OpenShell runtime environment and is based on Cadence’s digital design automation portfolio, leveraging NVIDIA Nemotron models.

Cadence Design Systems Inc. (NASDAQ:CDNS) states that by employing the technology, NVIDIA engineers have accelerated RTL validation cycles by 40 times, reducing typical five-week verification loops to just under a day.

Cadence Design Systems Inc. (NASDAQ:CDNS) is a leading provider of electronic design automation (EDA) software, hardware, and IP used by semiconductor companies to design and verify advanced integrated circuits & systems. The company is well-known for its EDA (Electronic Design Automation) tools, which engineers use to create complex 5G System-on-Chip (SoCs).

While we acknowledge the risk and potential of CDNS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CDNS and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1