Goldman Sachs raised its price target for Cadence’s design system to $470, expecting that by 2030, the electronic design automation (EDA) revenue opportunity will reach $3.7 billion, based on research published by Goldman on Monday. Semiconductor design software manufacturers Cadence Design Systems and Synopsys are expected to benefit from a structural shortage of design engineers in the semiconductor industry. Goldman raised its 12-month target share price for Cadence (CDNS) from $410 to $470, implying 26% upside; the stock closed on Friday at $384.17. Analysts said the shift toward custom AI chips is worsening the engineer shortage, thereby creating incremental revenue opportunities for EDA companies through agentic AI, estimated at about $3.7 billion per year by 2030. The research report said: “This is not reflected in Wall Street’s estimates and could begin to show as early as the second half of 2026.” Meanwhile, Taiwan Semiconductor Manufacturing Co. reported Monday that June sales grew 67.9% year over year; first-half 2026 revenue reached 2.4 trillion New Taiwan dollars ($24k), up 35.6% from the same period in 2025.