Cadence Design System Inc Stock Price, News & Analysis

Cadence Design Systems (CDNS) announced that its PCI Express 5.0 PHY and Controller IP has passed PCI-SIG certification tests at the first compliance event in April. The solutions achieved a speed of 32GT/s, aimed at SoC designs for hyperscale computing and networking. This certification enhances Cadence's position as a provider of power-efficient SoCs, aiding in faster market delivery. Key partnerships with TSMC and Intel further bolster their technological reputation. The PCIe 5.0 Design Kits are now available for licensing on TSMC N7, N6, and N5 processes.

Cadence Design Systems has announced an accelerated share repurchase (ASR) agreement with Royal Bank of Canada, aiming to buy back $100 million of its common stock. The initial delivery will include approximately 489,000 shares, with the remainder to be settled in the third quarter of 2022. The total number of shares repurchased will depend on Cadence’s daily volume-weighted average share prices during the ASR term, adjusted for a discount. This buyback is expected to enhance shareholder value and indicate confidence in Cadence's future.

Cadence Design Systems has announced a collaboration with TSMC to enhance innovation in mobile, 5G, and wireless applications through the N6RF design enablement. The newly developed process design kit (PDK) is aiding mutual customers in utilizing the Cadence RFIC solutions. This partnership optimizes several tools, including the Cadence Virtuoso Schematic Editor, facilitating effective design processes and improving performance, power efficiency, and reliability. The collaboration aims to streamline the design flow, aiding clients in reaching productivity goals faster.

Cadence Design Systems (CDNS) announced significant adoption of its Design IP portfolio by major semiconductor companies, leveraging TSMC’s advanced 5nm process technology. The portfolio supports various applications, including HPC and AI/ML, featuring high-performance interface standards like PCIe 6.0 and GDDR6. Cadence aims to facilitate faster time-to-market and first-pass silicon success through robust system interoperability and comprehensive integration. The collaboration with TSMC enhances innovation and performance in SoC designs.

Cadence Design Systems (Nasdaq: CDNS) has announced the certification of its digital and custom/analog design flows for TSMC's N3E and N4P processes. This collaboration aims to enhance design innovation in mobile, AI, and hyperscale computing. Customers are actively using the new N3E and N4P PDKs, with several test chips already completed. Cadence's solutions are designed to optimize power, performance, and area (PPA), enhancing engineering productivity. The company's Intelligent System Design strategy supports SoC design excellence across various market segments.

Cadence Design Systems, Inc. (NASDAQ: CDNS) reported accelerated customer adoption of its Cadence Cerebrus Intelligent Chip Explorer, leveraging AI to optimize digital chip design. MediaTek and Renesas achieved significant production benefits: MediaTek reduced die area by 5% and power by over 6%, while Renesas improved performance with a 75% improvement in total negative slack on an advanced-node CPU design. This AI-driven technology enhances power, performance, and area (PPA), streamlining engineering productivity and reducing time to tapeout.

Cadence Design Systems has launched Cadence OnCloud, the first SaaS and e-commerce platform tailored for a cloud-first approach in electronic design. Leveraging Amazon Web Services, it offers instant access to design tools via an online platform, catering to users with varied needs. Key features include credit card and ACH purchasing options, a comprehensive suite of design and analysis solutions, and the ability to scale resources according to project demands. This platform aims to enhance productivity and collaboration while minimizing on-premises infrastructure costs.

Cadence Design Systems has launched the Optimality Intelligent System Explorer, enhancing multi-disciplinary analysis and optimization for electronic systems. This new technology promises to deliver optimized designs up to 10X faster than traditional methods and offers even greater speed advantages on specific designs. It integrates AI capabilities similar to Cadence Cerebrus, providing industry-leading accuracy and efficiency. The software is currently available to select clients, with broader availability expected in Q4 2022.

Cadence Design Systems, Inc. (Nasdaq: CDNS) will participate in a virtual fireside chat at the Berenberg Thematic Software Conference in London on June 15, 2022. Executives John Wall, CFO, and Richard Gu, VP of Investor Relations, will speak at 9:00 a.m. BST. The session will be accessible via webcast, with a replay available on the Cadence website starting July 16, 2022, until July 1, 2022. Cadence is renowned for its Intelligent System Design strategy, focusing on software, hardware, and IP solutions for various markets, consistently recognized as one of the Best Companies to Work For by Fortune.