Cadence (CDNS), GF Team Up for Enhanced Cloud Performance
Cadence Design Systems, Inc. CDNS recently collaborated with GlobalFoundries (“GF”) to offer a fully digital solution on Amazon Web Services (“AWS”).
Amid the increasing complexity, design teams face numerous challenges in building efficient design solutions and need tools that can address these issues and serve a broad range of end markets and applications.
The integrated Cadence digital flow, when combined with the power of the cloud, helps customers address these design bottlenecks by providing enhanced design closure. It also increases the chances of achieving design power, performance and area (PPA) targets.
Benefits of the Alliance
With the help of this collaboration, GF has qualified the use of Cadence's complete digital solution on its proprietary, differentiated 22FDXplatform. This will enable customers to achieve cloud scalability, efficiency and productivity while attaining optimized design PPA and accelerated time-to-market.
GF’s alliance with Cadence underscores how the former is partnering with ecosystem leaders for delivering innovative solutions while enhancing time-to-market. Leveraging the success of GF’s 22FDX design flow and the Cadence digital solution, this collaboration helps the companies to achieve fully cloud-based implementation that delivers flexibility, reliability and superior performance for its customers.
Through its partnership with GF, Cadence is enabling customers to take advantage of the power of the cloud to develop next-generation state-of-the-art design solutions that cater to evolving trends like automotive vehicles and the Internet of Things (IoT.)
For instance, Xenergic, a company that provides ultra-low-power and high-performance on-chip memory solutions, used the Cadence digital full flow and the Tensilica Fusion F1 DSP on the GF 22FDX platform to successfully tape out a test chip featuring low-power memories. This demonstrates that customers can design with confidence in the cloud and can successfully scale cloud resources during peak needs to rev up development times.
San Jose, CA-based Cadence 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.
The company is also gaining from higher investments in emerging markets like the 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.
A few days back, Cadence had collaborated with GF to expedite the development of next-generation silicon photonics integrated circuit (IC) designs for 5G communications, hyperscale computing, healthcare, automotive, IoT and aerospace systems.
Shares of Cadence have rallied 23.9% in the past year compared with the industry’s growth of 19.9%.
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Zacks Rank & Stocks to Consider
At present, Cadence carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader technology space are Badger Meter BMI, NETGEAR NTGR and Iridium Communications IRDM. While Badger Meter sports a Zacks Rank #1 (Strong Buy), NETGEAR and Iridium carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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 three of the last four quarters and met estimates once, the average surprise being 14%. Shares of BMI have gained 5.4% in the past year.
NETGEAR has a projected earnings growth rate of 31.46% for 2023. The Zacks Consensus Estimate for NETGEAR’s 2023 earnings has been revised downward by 7 cents in the past 90 days.
NETGEAR’s earnings beat the Zacks Consensus Estimate in three of the last four quarters and missed estimates once, the average surprise being 35.5%. Shares of NTGR have plunged 39.4% in the past year.
Iridium has a projected earnings growth rate of 271.43% for 2022. The Zacks Consensus Estimate for Iridium’s 2022 earnings has been revised upward by a penny in the past 90 days.
Iridium’s earnings beat the Zacks Consensus Estimate in two of the last four quarters and met estimates twice, the average surprise being 39.4%. Shares of IRDM have gained 7.6% in the past year.
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