Cadence Design Systems, Inc. (CDNS) – Benefited from steady growth in all categories

Cadence Design Systems, Inc. (CNDS) (Q1FY23) Equity Report

Introduction

Cadence Design Systems, Inc. provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware.

Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.

The company also provides digital IC design and sign off products, including Genus logic synthesis and Joules RTL power solutions, as well as Modus software solution to reduce systems-on-chip design-for-test time; physical implementation tools, such as place and route, optimization, and multiple patterning preparation; and Innovus implementation system, a physical implementation system.

In addition, it offers custom IC design and simulation products to create schematic and physical representations of circuits down to the transistor level for analog, mixed-signal, custom digital, memory, and radio frequency designs; and system design and analysis products to develop printed circuit boards and IC packages, as well as to analyze electromagnetic, electro-thermal, and other multi-physics effects.

The company provides intellectual property (IP) products comprising pre-verified and customizable functional blocks to integrate into customer’s ICs; and verification IP with memory models to emulate and model the expected behavior and interaction of standard industry system interface protocols.

Additionally, it offers services related to methodology, education, and hosted design solutions, as well as technical support and maintenance services. The company serves 5G communications, aerospace and defense, automotive, industrial and healthcare, mobile, consumer, and hyperscale computing markets.

Highlights

Cadence has now collaborated with NVIDIA, the chip giant. Cadence technology experts collaborated with the NVIDIA team throughout the development process to answer
their concerns about any new design procedures or tools. Because of this partnership, NVIDIA was able to immediately adopt the expanded flow and solution capabilities, allowing them to further shorten the design cycle and meet their market window.

Stock Performance

Cadence Design Systems’ stock price increased by 42.95% in the past 1-year. The stock has a 52-week high of $242.65 and its 52-week low is $132.76. The stock price showed an upward trend in the past 3- month period and gave 10.19% returns due to strong earnings, growing demand for EDA software, and investment in AI.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– CrispIdea Segment Forecast
– Economic Value Added Analysis
– Discounted Cash Flow Analysis
– P/E Analysis
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10 Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Stock Price Performance

Crispidea Coverage

No of Pages: 35

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