Cadence Design Systems (CDNS 5.63%) stock is moving higher in Tuesday's trading following the company's first-quarter report. The tech specialist's share price was up 5.1% as of 2:15 p.m. ET.Cadence published its Q1 results after the market closed yesterday and posted earnings that came in ahead of Wall Street's target. The company also raised its full-year performance guidance.Cadence stock rises on Q1 profit beatCadence posted non-GAAP (adjusted) earnings per share of $1.57 on sales of$1.24 billion in th ...