Cadence Design System Inc Stock Price, News & Analysis

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.

Cadence Design Systems (Nasdaq: CDNS) has launched AWR Design Environment® Version 16 (V16), which enhances cross-platform interoperability for RF to mmWave IP integration. This new version integrates seamlessly with Cadence’s Virtuoso® and Allegro® platforms, enabling efficient design of 5G systems across various sectors such as automotive and semiconductor technologies. With improved workflows, V16 offers a significant reduction in turnaround time by over 50%, according to the company, thus facilitating faster market entry for customers.

Cadence Design Systems, Inc. (Nasdaq: CDNS) has launched the new Tensilica® FloatingPoint DSP family, designed for floating-point workloads. This scalable and configurable solution supports various applications, from battery-operated devices to AI/ML and AR/VR. The DSPs, including KP1, KP6, KQ7, and KQ8 models, offer significant performance enhancements with a 25% improvement in FMA operations and up to 40% area savings over fixed-point DSPs. These DSPs align with Cadence's Intelligent System Design strategy, aiming to optimize power, performance, and area (PPA) for diverse computing needs.

Cadence Design Systems (Nasdaq: CDNS) announced that Sequans Communications has implemented the Cadence Virtuoso RF Solution, achieving a 2X performance improvement for its 5G IoT platform. The integration of the Cadence Spectre X RF Simulator and EMX Planar 3D Solver allows for high-frequency RF analysis, accelerating time to market while maintaining accuracy. Sequans utilized the AWR Visual System Simulator for measuring overall system performance adhering to 5G standards. This collaboration enhances design efficiency, crucial for meeting tight deadlines in the IoT market.