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Cadence (CDNS) Rolls Out Palladium Z2 and Protium X2 Solutions
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Cadence Design Systems (CDNS - Free Report) recently unveiled Cadence Palladium Z2 Enterprise Emulation and Protium X2 Enterprise Prototyping systems. The company added that the new systems provide “highest throughput pre-silicon hardware debug and pre-silicon software validation” for system-on-chip (SoC) designs.
Cadence also noted that the new Palladium and Protium solutions provide two times more capacity and offer 1.5 times improved performance than the prior generation — Palladium Z1 and Protium X1. These solutions are embedded with next-generation emulation processors and Xilinx UltraScale+ VU19P FPGAs.
The new Palladium and Protium systems boast modular compile technology that enables compiling of 10 billion gates in less than 10 hours and 24 hours for Palladium Z2 and Protium X2, respectively.
These solutions are aimed to manage the increasing complexity of designing advanced applications including mobile and hyperscale computing designs as well as boost time to market for such products, further noted the company.
At present, Palladium Z2 and the Protium X2 systems are being deployed by the likes of NVIDIA (NVDA - Free Report) and Advanced Micro Devices (AMD - Free Report) for validating SoC and GPU designs.
Markedly, Palladium Z2 and the Protium X2 systems are expected to be generally available from second quarter of 2021.
Healthy Uptake of the Verification Suite Augurs Well
Cadence continues to roll out new products to meet the ever-growing needs of electronics and semiconductor companies. New product launches bode well for Cadence’s revenue growth. The newly-launched Palladium Z2 and Protium X2 are a part of Cadence’s Verification solutions portfolio.
Cadence is witnessing strong demand for its verification and digital design solutions from clients involved in datacenter servers, networking products and smartphone makers that continuously invest in new design concepts as well as projects.
Moreover, increasing investments in Internet of things (IoT) as well as augmented and virtual reality (AR/VR) by business enterprises augurs well for the company.
Apart from Palladium and Protium, the company’s Verification Suite boasts of products like JasperGold, and Xcelium. Solid adoption continues for Palladium Z1 on the back of strong demand for growing hardware capacity.
For 2020, Palladium Z1 witnessed robust traction with 24 new customer wins and 34 expansions. Similarly, Protium X1 had 14 expansions and 13 new customers in 2020.
This rapid uptake of the company’s Verification product suite instils confidence in the stock. Notably, shares of Cadence have surged 111.3% in the past year compared with the industry’s rally of 49.5%. Cadence currently carries a Zacks Rank #1 (Strong Buy).
However, Cadence faces tough competition from other electronic design automation (EDA) companies like ANSYS (ANSS - Free Report) , Synopsys and Siemens AG.
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Cadence (CDNS) Rolls Out Palladium Z2 and Protium X2 Solutions
Cadence Design Systems (CDNS - Free Report) recently unveiled Cadence Palladium Z2 Enterprise Emulation and Protium X2 Enterprise Prototyping systems. The company added that the new systems provide “highest throughput pre-silicon hardware debug and pre-silicon software validation” for system-on-chip (SoC) designs.
Cadence also noted that the new Palladium and Protium solutions provide two times more capacity and offer 1.5 times improved performance than the prior generation — Palladium Z1 and Protium X1. These solutions are embedded with next-generation emulation processors and Xilinx UltraScale+ VU19P FPGAs.
The new Palladium and Protium systems boast modular compile technology that enables compiling of 10 billion gates in less than 10 hours and 24 hours for Palladium Z2 and Protium X2, respectively.
Cadence Design Systems, Inc. Price and Consensus
Cadence Design Systems, Inc. price-consensus-chart | Cadence Design Systems, Inc. Quote
These solutions are aimed to manage the increasing complexity of designing advanced applications including mobile and hyperscale computing designs as well as boost time to market for such products, further noted the company.
At present, Palladium Z2 and the Protium X2 systems are being deployed by the likes of NVIDIA (NVDA - Free Report) and Advanced Micro Devices (AMD - Free Report) for validating SoC and GPU designs.
Markedly, Palladium Z2 and the Protium X2 systems are expected to be generally available from second quarter of 2021.
Healthy Uptake of the Verification Suite Augurs Well
Cadence continues to roll out new products to meet the ever-growing needs of electronics and semiconductor companies. New product launches bode well for Cadence’s revenue growth. The newly-launched Palladium Z2 and Protium X2 are a part of Cadence’s Verification solutions portfolio.
Cadence is witnessing strong demand for its verification and digital design solutions from clients involved in datacenter servers, networking products and smartphone makers that continuously invest in new design concepts as well as projects.
Moreover, increasing investments in Internet of things (IoT) as well as augmented and virtual reality (AR/VR) by business enterprises augurs well for the company.
Apart from Palladium and Protium, the company’s Verification Suite boasts of products like JasperGold, and Xcelium. Solid adoption continues for Palladium Z1 on the back of strong demand for growing hardware capacity.
For 2020, Palladium Z1 witnessed robust traction with 24 new customer wins and 34 expansions. Similarly, Protium X1 had 14 expansions and 13 new customers in 2020.
This rapid uptake of the company’s Verification product suite instils confidence in the stock. Notably, shares of Cadence have surged 111.3% in the past year compared with the industry’s rally of 49.5%. Cadence currently carries a Zacks Rank #1 (Strong Buy).
You can see the complete list of today’s Zacks #1 Rank stocks here.
However, Cadence faces tough competition from other electronic design automation (EDA) companies like ANSYS (ANSS - Free Report) , Synopsys and Siemens AG.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2021 today >>