Cadence Design Systems - CDNS STOCK NEWS

Cadence Design Systems (CDNS) has partnered with GlobalFoundries (GF) to enhance 5G mobile design through the introduction of Cadence's RF and mmWave flow for GF's 22FDX platform. This collaboration successfully designed a 28GHz 5G mmWave IC, which integrates an antenna in a system-in-package format. The design, tested by Fraunhofer IIS/EAS, exhibited strong correlation with silicon measurements. The comprehensive design flow aims to optimize performance, power efficiency, and reliability for clients.

Cadence Design Systems announces the launch of the first Verification IP (VIP) and System-Level VIP for the CXL 3.0 standard, enhancing testing and compliance in data center applications. The solution integrates with PCIe 6.0, using Cadence TripleCheck technology for effective verification. Additionally, the System VIP includes a Traffic Library for CXL and tools for performance analysis, addressing the latest CXL requirements. This release supports Cadence's broader verification flow and Intelligent System Design strategy, aiding early adopters in achieving efficient verification closure.

Cadence Design Systems (NASDAQ: CDNS) announced that Arm is utilizing its Liberate MX Trio Characterization to enhance the quality of embedded memory and speed up market delivery. This solution enabled Arm to reduce memory LVF characterization validation runtime by 7X compared to traditional Monte Carlo simulations. The automated and less error-prone process improved accuracy while minimizing manual efforts and validation time. The adoption of this characterization tool signifies Arm's commitment to meeting evolving memory characterization demands.

Cadence Design Systems will participate in the KeyBanc Technology Leadership Forum on August 9, 2022. CEO Anirudh Devgan will lead a virtual fireside chat at 7:45 a.m. MDT. The event will be webcast live, with a replay available from 7:00 a.m. PDT on August 10, 2022 until 5:00 p.m. PDT on September 16, 2022. Interested parties can access the webcast at cadence.com/cadence/investor_relations.

Cadence Design Systems (CDNS) announced that Samsung Foundry has adopted their Spectre FX FastSPICE Simulator for verification on 3nm, 4nm, and 5nm designs. This deployment has led to up to 2X productivity gains and improved accuracy in the verification of large-scale analog and mixed-signal IP. Key features include faster simulation turnaround times and the ability to manage complex design specifications. The Spectre FX Simulator is part of Cadence's Spectre Simulation Platform, supporting seamless circuit and system-level simulations.

Cadence Design Systems reported a strong second quarter for 2022, achieving $858 million in revenue, up from $728 million in Q2 2021. The company saw a GAAP operating margin of 33%, with net income of $187 million, or $0.68 per share, compared to 25% and $156 million ($0.56 per share) last year. Non-GAAP results showed an operating margin of 42% and net income of $298 million ($1.08 per share). For Q3 2022, Cadence expects revenue between $860 million and $880 million, and a full year revenue forecast of $3.470 billion to $3.510 billion.

Cadence Design Systems (NASDAQ: CDNS) announced its acquisition of OpenEye Scientific Software for approximately $500 million in cash. This acquisition aims to enhance Cadence's Intelligent System Design strategy and expand its market within drug discovery, leveraging OpenEye’s advanced computational molecular modeling and simulation software. Expected to close in Q3 2022, the deal is projected to contribute about $40 million to Cadence's revenue in fiscal 2023. The growing demand in biosimulation, with a $2 billion market and 15% CAGR, supports this strategic move.

Cadence Design Systems has successfully completed the acquisition of Future Facilities, enhancing its Intelligent System Design strategy. This purchase expands Cadence's multiphysics analysis and computational fluid dynamics (CFD) offerings. Future Facilities specializes in electronics cooling analysis and energy optimization for data centers, utilizing 3D digital twins to help clients, including major firms like HP and Equinix, improve their operations and lower their carbon footprint. This strategic integration is poised to deliver significant business value and broaden market opportunities.

Cadence Design Systems (CDNS) and Tower Semiconductor (TSEM) announced a collaboration to enhance automotive and mobile integrated circuit (IC) development. The partnership focuses on creating an automotive reference design flow using Cadence’s Virtuoso and Spectre platforms, aimed at speeding up design cycles while ensuring compliance with ISO 26262 standards. This initiative is expected to leverage Cadence's comprehensive design tools and Tower's analog technology, strengthening their offerings in the automotive market for applications such as EVs and ADAS systems.