Cadence Design Systems, Inc. (CDNS - Free Report) is on a collaboration spree with industry leading cloud infrastructures. At Design Automation Conference (“DAC”), the San Jose-based company collaborated with Microsoft’s (MSFT - Free Report) Azure, Amazon’s (AMZN - Free Report) Amazon Web Services (“AWS”) and Alphabet’s (GOOGL - Free Report) Google Cloud platform to enable smooth design development of electronic systems and semiconductors.
The company’s Cloud-Hosted Design Solution is already electronic design automation (“EDA”) optimized and managed cloud architecture assembled on AWS since the past two years. With the collaboration, the offering can now be leveraged by Azure users. In a bid to reinforce the ties, Azure and AWS customers along with Google Cloud users can now access Cadence Cloud Passport model. The passport model delivers a smooth access to cloud-compatible Cadence offerings as well as license server to ensure high reliability.
The end user benefit from the collaboration is providing developers enhanced security, flexibility, productivity and scalability features, required to attain the desired product design. The tools available on the leading cloud platforms empower the developers to deal with the design complexity efficiently and effectively. This collectively reduces the time to market.
The customers will benefit a great deal from the cloud tools to address the increasingly complex designing of electronic systems and semiconductors. Notably, the stock of this electronic product designing solutions provider has gained 14.9% in the past three months, outperforming the industry’s rally of 9%.
At DAC, Cadence also delivered a broad cloud portfolio which enables electronic semiconductors and systems to thrive. The company claims the new Cadence Cloud portfolio to be a first-of-a-kind solution, leveraging Cadence-managed as well as customer-managed cloud infrastructure. The infrastructure enables customers’ entire design journey or peak to function smoothly. The company also launched the Palladium Cloud solution. The customers will have the option to deploy this new emulation solution with the company’s other Cloud solutions.
Furthermore, at the event, Cadence Liberate Trio Characterization Suite was also introduced. The company claims it to be the “industry’s first unified library characterization tool”. As the name suggests, the suite is aimed at dealing with complex “characterization” activity by leveraging smart Machine Learning (“ML”) tools. The advanced ML techniques help the designers predict critical corners and decide the corners required to be characterized.
The innovative cloud-ready solutions broaden the company’s portfolio in an effective manner.
The strong collaborations and smart product launches augur well for Cadence in the longer haul. Robust adoption of the company’s digital and signoff, custom and analog, and IP solutions along with an ever expanding customer base remains a positive. Additionally, the company is also witnessing traction in aerospace and defense sectors, which is a tailwind.
Cadence currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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