Cadence Design Systems - CDNS STOCK NEWS

Anirudh Devgan, CEO of Cadence Design Systems (Nasdaq: CDNS), will participate in a fireside chat at the Bernstein 40th Annual Strategic Decisions Conference on May 30, 2024.

His presentation will be webcast live at 8:00 a.m. PDT and archived on the Cadence website for 90 days.

Interested parties can access the webcast and replay it at cadence.com/cadence/investor_relations.

Cadence Design Systems has partnered with Team4Tech for seven years, engaging in philanthropic projects to uplift communities in need. In Fall 2023, Cadence reunited with Women in Technology Uganda (WITU) to empower young Ugandan women through technology and entrepreneurship. A $25,000 impact grant supported this initiative.

A team of ten Cadence employees from various global offices collaborated on-site and virtually for three months. They divided into sub-teams to create a new website for job opportunities, organize a hackathon at a local high school, and build a Makerspace with advanced tech tools. This project emphasized sustainable impact through a train-the-trainer approach.

Volunteers reported personal and professional growth, fostering a deep connection with WITU's women. This initiative aligns with Cadence's core values of customer-centric innovation, decision-making amidst ambiguity, and a growth mindset.

Cadence remains committed to volunteer opportunities that promote leadership and professional development.

Cadence Design Systems and McLaren Racing have announced the winner of the Cadence McLaren F1 Racing Team CFD Student Challenge on May 17, 2024. The challenge sought to optimize the aerodynamic performance of an Imperial Front Wing (IFW) F1 race car. Mathieu Boyer from Cornell University emerged victorious, showcasing his skills in mechanical engineering and computational fluid dynamics. Boyer will begin his internship with Cadence and the US Fidelity CFD team this summer. The challenge aimed to nurture engineering talent by providing students with access to advanced technology and mentorship.

Anirudh Devgan, President and CEO of Cadence Design Systems, will speak at the 52nd Annual J.P. Morgan Global Technology Media and Communications Conference on May 21, 2024. The fireside chat will be webcast live at 8:30 a.m. PDT and archived on the Cadence website for 30 days. Investors can access the presentation at cadence.com/cadence/investor_relations.

Cadence Design Systems, Inc. (Nasdaq: CDNS) announces that Nimish Modi, senior vice president, will participate in a virtual fireside chat at the 19th Annual Needham Technology, Media & Consumer Conference on May 16, 2024. The talk will be live webcasted at 9:45 a.m. PDT and archived on the Cadence website for 90 days.

Longhorn Electric Racing, a student-run racing team at the University of Texas at Austin, is utilizing Cadence Tools to build the future of electric vehicles. By incorporating Cadence Computational Fluid Dynamics (CFD), the team is overcoming challenges in designing fast and cooling-effective electric cars efficiently. The partnership with Cadence provides valuable real-life software experience for the students.

Cadence has been named by Fortune and Great Place to Work as one of the 100 Best Companies to Work for in 2024, ranking No. 9. This marks the 10th consecutive year that Cadence has received this recognition. The company's president and CEO, Dr. Anirudh Devgan, highlighted the significance of this achievement and emphasized the importance of a positive workplace culture. The selection process for the list involves evaluating employee feedback and HR data, with a focus on trust and employee empowerment. Cadence has also received recognition as a Great Place to Work in multiple countries and regions worldwide.

Cadence Design Systems, Inc. (CDNS) and TSMC collaborate on a wide array of technology advancements to enhance system and semiconductor design across various industries. Key achievements include enhancements to the Integrity 3D-IC platform, certification of digital solutions for TSMC N2 design flow, development of AI-driven design solutions, optimization of custom/analog design flow for TSMC N2 PDK, release of a Virtuoso Studio N16 to N6 RF migration reference flow, availability of industry-leading IP cores for TSMC's N3 process, certification of EMX 3D Planar Solver for N5 process technology, and unveiling of a silicon photonics flow to support TSMC's Compact Universal Photonic Engine technology.

Cadence Design Systems, Inc. (Nasdaq: CDNS) reported a record first-quarter backlog of $6.0 billion and a cRPO of $3.1 billion for the first quarter of 2024. Despite a slight decrease in revenue compared to the previous year, the company remains optimistic about its performance. The GAAP operating margin was 25%, with a non-GAAP operating margin of 38%. GAAP diluted net income per share was $0.91, while non-GAAP diluted net income per share was $1.17.