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Cadence (CDNS) to Play a Pivotal Role in Qorvo's SHIP-RF Program

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Cadence Design Systems, Inc. (CDNS - Free Report) recently announced participation in Qorvo’s (QRVO - Free Report) State-of-the-Art Heterogeneous Integrated Packaging (SHIP-RF) Design Center.

Drawing on more than 35 years of experience, Qorvo provides industry-leading innovative Radio Frequency (RF) solutions and combines product and technology leadership, systems-level expertise and global manufacturing scale to alter customers' most complex technical challenges.

Qorvo’s products and solutions are used for designing a wide range of mobile, defense and infrastructure applications.

The SHIP-RF program, sponsored by the Department of Defense (DoD), aims to foster cutting-edge microelectronics design and manufacturing expertise and leadership for defense applications as well as for commercial clients that require design and manufacturing of next-generation RF technology.

Cadence’s Involvement in the Program

Cadence will develop methodologies to execute solid design and simulation capabilities for the highest levels of heterogeneous packaging integration, as part of Qorvo’s Design Center team. Further, the company will provide services, tools and Assembly Design Kits (ADKs) to enable Qorvo and its customers to achieve the advanced design and manufacturing success for next-generation RF technology. Amalgamating Cadence ADK solutions into Qorvo’s SHIP-RF Assembly and Test Center (ATC) manufacturing rules will allow comprehensive modeling and product simulation for crucial aerospace and defense applications.

Cadence’s involvement in the SHIP-RF program benefits Qorvo as it will integrate Cadence methodologies and flows into Qorvo’s advanced, industry-leading heterogeneous RF packaging, assembly and testing solutions. As an electronic design automation (EDA) company, Cadence will provide Qorvo with expertise to accurately design packages and modules tested in the Qorvo manufacturing facility. This will result in reduced development time, iterations and costs while meeting the size, weight, power and cost requirements for next-generation phased array radar systems, electronic warfare platforms, unmanned vehicles and satellite communications.

This San Jose, CA-based company is a leading electronic systems design company, leveraging more than 30 years of computational software expertise. The company is well-positioned to gain from strength across segments like digital & signoff solutions and functional verification suite. An expanding product portfolio and frequent product launches are key catalysts.

Shares of Cadence have rallied 3% in the past year compared with the industry’s rise of 12%.

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The company is also gaining from higher investments in emerging trends like the Internet of Things (IoT) and autonomous vehicle sub-systems along with strength in the semiconductor end market. Its top-line performance is driven by a robust product portfolio that includes solutions like Cadence Cerebrus Intelligent Chip Explorer, Spectre X, Virtuoso, Clarity 3D Transient Solver and Protium Enterprise Prototyping, among others.

While Cadence holds a Zacks Rank of 2 (Buy), Qorvo carries a Zacks Rank of 3 (Hold) currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

 

Other Key Picks

Other top-ranked stocks from the broader technology space include Progress Software (PRGS - Free Report) and Badger Meter (BMI - Free Report) , both of which sport a Zacks Rank #1 currently.

Progress Software has a projected earnings growth rate of 3.62% for fiscal 2022. The Zacks Consensus Estimate for Progress Software’s fiscal 2022 earnings has been revised upward by 6 cents in the past 60 days. The long-term earnings growth rate of the company is pegged at 2%.

Progress Software’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 26.8%. Shares of PRGS have rallied 2.6% in the past year.

Badger Meter has a projected earnings growth rate of 5.77% for 2022. The Zacks Consensus Estimate for Badger Meter’s 2022 earnings has been revised upward by 19 cents in the past 60 days.

Badger Meter’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 14%. Shares of BMI have dropped 1% in the past year.