Cadence Design Systems - CDNS STOCK NEWS

Cadence Design Systems (Nasdaq: CDNS) announced the deployment of its Palladium Enterprise Emulation Platform by Picocom, aimed at enhancing the verification and validation of 5G SoC designs. Picocom reported a significant 1000X emulation speedup compared to RTL simulation, allowing them to advance system software on RISC-V cores before silicon availability. Utilizing Cadence’s power analysis and interface testing tools, Picocom effectively managed power budgets while enabling remote collaboration for engineers. The Palladium platform is pivotal for accelerating product development amid competitive demands in the 5G sector.

Cadence Design Systems (Nasdaq: CDNS) executives Anirudh Devgan and John Wall will engage in a virtual fireside chat at the KeyBanc Technology Leadership Forum on August 9, 2021. The event is scheduled for 9:00 a.m. PDT and will be streamed live via webcast. A replay of the presentation will be accessible on Cadence's website until September 17, 2021. Cadence, a leader in electronic design with over 30 years of expertise, continues to innovate in various sectors, including automotive, aerospace, and healthcare.

Cadence Design Systems (CDNS) reported strong financial results for Q2 2021, achieving revenue of $728 million, up from $638 million in Q2 2020. GAAP net income was $156 million or $0.56 per diluted share, compared to $131 million or $0.47 per share last year. Non-GAAP net income reached $238 million or $0.86 per share.

For Q3 2021, revenue is projected between $730 million to $750 million, with adjusted net income expected to be between $0.74 and $0.76 per share. The company raised its 2021 revenue outlook to $2.925 billion to $2.965 billion.

Cadence Design Systems (Nasdaq: CDNS) announces a leadership transition as CEO Lip-Bu Tan becomes executive chairman on December 15, 2021. Anirudh Devgan, currently president, will take over as CEO. Tan, who led the company since 2009, oversaw significant growth, with revenue increasing from under $1 billion to nearly $3 billion. Devgan, who joined Cadence in 2012, has driven strategic initiatives, notably expanding the total addressable market to $30 billion. The board expresses confidence in the new leadership as Cadence continues to focus on innovation and customer success.

Cadence Design Systems (Nasdaq: CDNS) has launched the Cerebrus™ Intelligent Chip Explorer, a machine learning-based tool that automates digital chip design. This innovation promises to enhance engineering productivity by up to 10X and improve power, performance, and area (PPA) by 20%. The cloud-enabled Cerebrus integrates with Cadence’s digital product portfolio to provide scalable design solutions across various markets, including 5G and automotive. Customer feedback highlights significant productivity gains and reductions in power usage, demonstrating the tool’s industry impact.

Cadence Design Systems (Nasdaq: CDNS) and United Microelectronics Corporation (NYSE: UMC) have announced that the Cadence digital full flow is now optimized and certified for UMC's 22ULP/ULL process technologies. This collaboration aims to accelerate design for consumer, 5G, and automotive applications. The certified flow includes leading tools like Innovus Implementation System and Genus Synthesis Solution, enabling faster tapeout and improved design quality. Both companies emphasize that this partnership enhances their customers' ability to meet stringent design requirements promptly.

Cadence Design Systems (Nasdaq: CDNS) is set to announce its Q2 2021 financial results on July 26, 2021, at 2:00 p.m. PT. The announcement will be made during a live webcast featuring key executives, including CEO Lip-Bu Tan and CFO John Wall. An archive of the webcast will be available from 5:00 p.m. PT on the same day until September 17, 2021. Cadence is renowned for its leadership in electronic design, applying its Intelligent System Design™ strategy to create innovative solutions for various industries.

A recent survey commissioned by Cadence Design Systems (CDNS) reveals that 62% of consumers believe hyperscale computing will positively impact their lives within five years. The report, titled Hyperconnectivity & You – A Roadmap for the Consumer Experience, highlights three key themes: confidence, convenience, and collaboration. Although only 32% of consumers understand hyperscale computing, mobile phones are expected to benefit the most. The study involved 3,073 adults across five countries, emphasizing the importance of data security and user control in technology adoption.