Cadence Design Systems, a chip design software maker, would be undervalued according to CEO Anirudh Devgan, despite its essential role in the semiconductor supply chain. Its revenue in Q2 2026 reached $1.584 billion, slightly above Wall Street expectations. The stock trades around $338.61, approximately 11.4% below its estimated intrinsic value of $382.09. The global semiconductor market is projected to reach $1.2 trillion in 2026, well ahead of initial forecasts. Cadence operates in a duopoly with Synopsys, granting it significant pricing power and revenue visibility.
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