Cadence Design System Inc Stock Price, News & Analysis

Cadence Design Systems (CDNS) reported 2020 revenue of $2.683 billion, up from $2.336 billion in 2019. The company achieved a GAAP operating margin of 24% with net income of $591 million or $2.11 per diluted share. Q4 2020 revenue reached $760 million, compared to $600 million in Q4 2019. The company anticipates Q1 2021 revenue between $710 million and $730 million, and 2021 revenue between $2.86 billion to $2.92 billion, with expected GAAP net income per diluted share of $2.09 to $2.19.

Cadence Design Systems (Nasdaq: CDNS) has announced a $5 million Professorship Fund at MIT's Schwarzman College of Computing. This fund aims to establish a full professorship for faculty specializing in artificial intelligence (AI), machine learning (ML), and data analytics. It will also support career development for emerging researchers in these fields. CEO Lip-Bu Tan expressed pride in supporting MIT, highlighting the significance of AI, ML, and data analytics in the computational software industry.

Cadence Design Systems, Inc. (Nasdaq: CDNS) has agreed to acquire NUMECA International, a leader in computational fluid dynamics (CFD) solutions. This acquisition enhances Cadence's Intelligent System Design strategy and expands its system analysis portfolio in a $1.6 billion total addressable market (TAM) for CFD, supporting industries such as aerospace and automotive. The deal is expected to close in Q1 2021 and will be immaterial to revenue and earnings for the current year. Key benefits include improved multi-physics engineering solutions and enhanced design capabilities.

Cadence Design Systems (NASDAQ: CDNS) will present its fourth quarter and fiscal year 2020 financial results during a webcast on February 22, 2021, at 2:00 p.m. PT. CEO Lip-Bu Tan and CFO John Wall will participate in the session. The webcast will be accessible until March 19, 2021, at cadence.com/cadence/investor_relations. Cadence, a leader in electronic design, has earned recognition in Fortune's 100 Best Companies to Work For for six consecutive years.

Cadence Design Systems (Nasdaq: CDNS) announced the certification of its complete system analysis and advanced packaging design tool flow by Samsung Foundry as part of its Multi-Die Integration (MDI) advanced packaging reference flow. This certified flow enhances design accuracy for 2.5D and 3D chip designs, crucial for hyperscale computing and AI applications. Key components include the Celsius Thermal Solver and Clarity 3D Solver, which improve electrical and thermal requirement validations, allowing for reduced costs and enhanced product reliability.

Cadence Design Systems (Nasdaq: CDNS) announces Samsung Foundry's adoption of its Spectre X Simulator for 5nm PCI Express PHY IP targeting automotive, mobile, consumer, and healthcare sectors. This integration allows for up to 10X simulation performance gains while preserving accuracy. The simulator’s capabilities resolve long-standing simulation capacity issues, enabling faster design cycles. Samsung Foundry's VP, Sangyun Kim, noted its impact on design quality and efficiency. The simulator aligns with Cadence's Intelligent System Design strategy.

Cadence Design Systems (Nasdaq: CDNS) announced that Rockley Photonics has successfully utilized Cadence's advanced system analysis and custom design tools to create a high-performance System-in-Package (SiP) for hyperscale data centers. Utilizing a suite of Cadence tools, including the Clarity 3D Solver and EMX 3D Planar Solver, Rockley achieved first-pass success and accelerated its time to market. This collaboration showcases Cadence's Intelligent System Design strategy aimed at enhancing system innovation for its customers.

Cadence Design Systems (Nasdaq: CDNS) announced the appointment of Julia Liuson to its board of directors, effective January 4, 2021. Julia, corporate vice president at Microsoft, brings extensive technology and strategic expertise, having led substantial growth in developer tools like Visual Studio. Cadence's chairman, John B. Shoven, emphasized her role in enhancing the company's Intelligent System Design strategy. Liuson is noted for her contributions to diversity in STEM and was inducted into the Women in Technology Hall of Fame in 2019.

Cadence Design Systems (Nasdaq: CDNS) announces that CFO John Wall will participate in a virtual fireside chat at the Nasdaq 43rd Investor Conference.

This event is scheduled for December 1, 2020, at 9:00 a.m. EST. Investors can access the live webcast and subsequent replay on Cadence's investor relations website until January 1, 2021.

Cadence, a leader in electronic design for over 30 years, serves innovative companies across various sectors, recognized as one of Fortune's 100 Best Companies to Work For for six consecutive years.