Let's have a little perspective and keep this simple: 1. EDA and CDNS in particular go through these cyclical resets every few years, ever since EDA matured (~10 years ago). The reset is a great opportunity for new stock options, employee stock purchase plan. Lots of money to be made by insiders here. 2. Fister came in with big ideas about going to the next level. He hasn't succeeded with that, but at least the idea of buying MENT will consolidate the market and give CDNS & SNPS more pricing power. Perhaps it will allow CDNS to take significant share from SNPS. 3. I see no evidence that CDNS is losing real share i.e. customers! You can't judge by revenues/bookings because these are manipulated to form a bubble which eventually bursts (same happened with SNPS). SNPS hasn't announced any major customer wins, and I haven't heard of any. CDNS has just been raping and pillaging their installed base over the last couple of years...and now it's time for a reset.
My opinion is EDA needs to consolidate, more pricing power, and then dividends - forget about this growth story, let's go with value.