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Cadence (CDNS) & GF Tie Up to Boost 5G Design & Innovation
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Cadence Design Systems Inc. (CDNS - Free Report) is collaborating with GlobalFoundries ("GF") to accelerate 5G and mobile design innovation. GF will be leveraging Cadence Reference Flow (RF) and mmWave flow for its GF 22FDX platform.
The ongoing digitalization has made designing a difficult process for applications like 5G, Industrial Internet of Things, hyperscale computing etc. The current collaboration with GF is aimed at addressing complex design workloads for these SoCs and accelerating time-to-market.
The RF and mmWave design flow allow clients to maximize the performance, power efficiency, and reliability of the entire mmWave IC and system-in-package (SiP) by leveraging several features such as system-level budget analysis, RF circuit simulation, implementation, concurrent SiP co-design with integrated electromagnetic analysis, mmWave IC design, reliability analysis and physical verification.
Per company estimates, Cadence RF and mmWave solutions support the company’s Intelligent System Design strategy that helps customers gain SoC design excellence.
On Jun 29, 2022, Cadence collaborated with Arm and Intel Foundry Services (“IFS”) to tap the growing demand for verification and digital design products.
The collaboration with Arm was aimed at speeding up the mobile device silicon success by combining Cadence digital and verification tools and the Arm Total Compute Solutions 2022 (TCS22).
The partnership with IFS reduced electronic design automation workload and increased the overall cost and engineering efficiency.
Cadence posted non-GAAP earnings of $1.08 per share in second-quarter 2022, which topped the Zacks Consensus Estimate by 11.3% and increased 26% year over year.
Revenues of $857.5 million surpassed the Zacks Consensus Estimate by 2.45% and increased 18% on a year-over-year basis. The top line benefited from continued strength across all segments driven by higher demand for its products.
Driven by strong second-quarter results, the company raised its outlook for 2022. Revenues for the full year are now projected in the range of $3.47-$3.51 billion compared with the earlier guidance of $3.395-$3.435 billion.
CDNS carries a Zacks Rank #1 (Strong Buy). Shares of the company have gained 24.4% against the industry’s fall of 10.1% in the past year.
The Zacks Consensus Estimate for Intuit’s fiscal 2022 earnings is pegged at $11.72 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 15.6%.
Intuit’s earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average being 16.8%. Shares of INTU have lost 12.1% in the past year.
The Zacks Consensus Estimate for BMI’s 2022 earnings is pegged at $2.30 per share, up 6% in the past 60 days.
Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, with the average being 12.6%. Shares of BMI have gained 0.5% of their value in the past year.
The Zacks Consensus Estimate for Arista Network’s 2022 earnings is pegged at $3.99 per share, increasing 8.4% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.6%.
Arista Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.1%. Shares of ANET have increased 44.7% in the past year.
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Cadence (CDNS) & GF Tie Up to Boost 5G Design & Innovation
Cadence Design Systems Inc. (CDNS - Free Report) is collaborating with GlobalFoundries ("GF") to accelerate 5G and mobile design innovation. GF will be leveraging Cadence Reference Flow (RF) and mmWave flow for its GF 22FDX platform.
The ongoing digitalization has made designing a difficult process for applications like 5G, Industrial Internet of Things, hyperscale computing etc. The current collaboration with GF is aimed at addressing complex design workloads for these SoCs and accelerating time-to-market.
Cadence Design Systems, Inc. Price and Consensus
Cadence Design Systems, Inc. price-consensus-chart | Cadence Design Systems, Inc. Quote
The RF and mmWave design flow allow clients to maximize the performance, power efficiency, and reliability of the entire mmWave IC and system-in-package (SiP) by leveraging several features such as system-level budget analysis, RF circuit simulation, implementation, concurrent SiP co-design with integrated electromagnetic analysis, mmWave IC design, reliability analysis and physical verification.
Per company estimates, Cadence RF and mmWave solutions support the company’s Intelligent System Design strategy that helps customers gain SoC design excellence.
On Jun 29, 2022, Cadence collaborated with Arm and Intel Foundry Services (“IFS”) to tap the growing demand for verification and digital design products.
The collaboration with Arm was aimed at speeding up the mobile device silicon success by combining Cadence digital and verification tools and the Arm Total Compute Solutions 2022 (TCS22).
The partnership with IFS reduced electronic design automation workload and increased the overall cost and engineering efficiency.
Cadence posted non-GAAP earnings of $1.08 per share in second-quarter 2022, which topped the Zacks Consensus Estimate by 11.3% and increased 26% year over year.
Revenues of $857.5 million surpassed the Zacks Consensus Estimate by 2.45% and increased 18% on a year-over-year basis. The top line benefited from continued strength across all segments driven by higher demand for its products.
Driven by strong second-quarter results, the company raised its outlook for 2022. Revenues for the full year are now projected in the range of $3.47-$3.51 billion compared with the earlier guidance of $3.395-$3.435 billion.
CDNS carries a Zacks Rank #1 (Strong Buy). Shares of the company have gained 24.4% against the industry’s fall of 10.1% in the past year.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks from the broader technology space are Intuit (INTU - Free Report) , Badger Meter (BMI - Free Report) and Arista Networks (ANET - Free Report) . Badger Meter and Arista Networks each sport a Zacks Rank #1, whereas Intuit carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Intuit’s fiscal 2022 earnings is pegged at $11.72 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 15.6%.
Intuit’s earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average being 16.8%. Shares of INTU have lost 12.1% in the past year.
The Zacks Consensus Estimate for BMI’s 2022 earnings is pegged at $2.30 per share, up 6% in the past 60 days.
Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, with the average being 12.6%. Shares of BMI have gained 0.5% of their value in the past year.
The Zacks Consensus Estimate for Arista Network’s 2022 earnings is pegged at $3.99 per share, increasing 8.4% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.6%.
Arista Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.1%. Shares of ANET have increased 44.7% in the past year.