Cadence Design Systems’ ( CDNS Quick Quote CDNS - Free Report) Palladium Z2 Enterprise Emulation Platform is being utilized by Microchip for advancing work on latest application-specific integrated circuits or ASIC products. These products are designed for high performing system on chip (SoC) solutions for data centers.
Cadence added that by using the congruency of Palladium Z2 platform and Cadence Protium Enterprise Prototyping databases, Microchip saved lot of time associated with ‘FPGA prototyping bring-up and hardware and software integration debugging time’.
Microchip noted that joining Palladium Z2 and Protium X2 solutions with other unified peripherals helped the company efficiently distribute verification workloads between the two platforms and simplified the implementation of multi-chip systems to lower time-to-market and meet quality requirements.
Per Cadence, the Palladium Z2 Enterprise Emulation solution has provided Microchip with twice improved emulation capacity and 1.5 times increased run-time performance against the earlier-generation emulators.
Healthy Adoption of the Verification Suite Bodes Well
Cadence continues to launch new products to meet the ever-growing needs of electronics and semiconductor companies.
Cadence is witnessing momentum 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 and projects. Increasing investments in Internet of things (IoT) as well as augmented and virtual reality by business enterprises augurs well for the company.
Palladium Z2 and Protium X2 are a part of Cadence’s Verification solutions portfolio. Launched in April 2021, Palladium and Protium (especially Z2 and X2) platforms continue to witness momentum with several deal wins among hyper-scale and global mobile customers.
Apart from Palladium and Protium, the company’s Verification Suite boasts of products like JasperGold and Xcelium Logic Simulation. In third-quarter 2021, Cadence rolled out Cadence Helium Virtual and Hybrid Studio platform. The platform is designed to ramp up the development of virtual and hybrid prototypes of complex systems.
In the last reported quarter, Functional Verification reported a 23% increase in revenues on a year-over-year basis.
Zacks Rank & Other Stocks to Consider
At present, Cadence carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the broader technology sector include
Salesforce ( CRM Quick Quote CRM - Free Report) , Hewlett Packard ( HPE Quick Quote HPE - Free Report) and Microsoft ( MSFT Quick Quote MSFT - Free Report) . While Salesforce and Hewlett Packard sport a Zacks Rank #1 (Strong Buy), Microsoft carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Salesforce’s fiscal 2022 earnings is pegged at $4.68 per share, up 6.4% in the past 60 days. The long-term earnings growth rate of the company is pegged at 16.8%.
Salesforce’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, the average surprise being 44.2%. Shares of CRM have increased 1.8% in the past year.
The Zacks Consensus Estimate for Hewlett Packard’s fiscal 2022 earnings is pegged at $2.03 per share, unchanged in the past 60 days. The long-term earnings growth rate of the company is pegged at 5.8%.
Hewlett Packard’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 14.4%. Shares of HPE have rallied 36.5% in the past year.
The Zacks Consensus Estimate for Microsoft’s fiscal 2022 earnings is pegged at $9.13 per share. The long-term earnings growth rate of the company is pegged at 12%.
Microsoft’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 14.8%. Shares of MSFT have surged 34.8% in the past year.