Company Overview - Cadence Design Systems (NASDAQ: CDNS) is currently trading approximately 10% below its all-time highs, indicating a strong market presence [1] - The company has demonstrated impressive growth with over 20% year-over-year growth in its most recent quarter, highlighting its robust performance [1] Business Performance - Cadence's Intellectual Property (IP) business is performing well, contributing positively to the overall growth of the company [1] - In comparison, competitor Synopsys is mentioned, suggesting a competitive landscape within the industry [1]