Stock Alert: Cadence Design Systems Up 5%

Shares of Cadence Design Systems, Inc. (CDNS) are rising almost 5 percent or $5.42 in Wednesday's morning trade at $117.81.

Tuesday, Cadence Design Systems said that L&T Technology Services Limited or LTTS reduced its design cycle time for mobile camera and memory devices by three weeks, or nearly 40 percent, by adopting the Cadence Clarity 3D Solver to analyze complex high-speed interconnects, including both 10G and 25G Ethernet and MIPI signals.

The Clarity 3D Solver enabled LTTS to achieve gold-standard accuracy with faster extraction, enabling the company to explore what-if scenarios and create more robust designs.

Cadence Design Systems has traded in a range of $51.39 to $127.50 in the past 52 weeks.

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