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Cadence (CDNS) Partners With McLaren to Boost Performance

·3 min read

Cadence Design Systems CDNS has partnered with the McLaren Formula 1 Team to drive technological upgrades. As part of the collaboration, McLaren Formula 1 Team will leverage Cadence Fidelity Computational fluid dynamics (CFD) software to boost the team’s performance.

Computational fluid dynamics is a branch of multiphysics system analysis that involves utilizing numerical models to simulate the behavior of fluids and their thermodynamic properties as well as resolve issues like particle tracking, combustion phenomenon, thermal exchangers etc.

Cadence Design Systems, Inc. Price and Consensus

Cadence Design Systems, Inc. Price and Consensus
Cadence Design Systems, Inc. Price and Consensus

Cadence Design Systems, Inc. price-consensus-chart | Cadence Design Systems, Inc. Quote

CFD can be used to improve propulsion, aerodynamics, hydrodynamics, and combustion.

McLaren will leverage the Cadence Fidelity CFD Software to improve airflow within the car as well as tackle design projects that require advanced compute power and precision.

In racing, participants are constantly trying to upgrade their car and create a stream-lined body shape in order to maximize airflow. The streamlined shape cuts through the air and maximizes speed.

So even a fraction of a second every lap can make all the difference between a podium finish and a fourth-place finish.

The companies will be collaborating beginning with the upcoming Monaco Grand Prix. Cadence will also join McLaren across multiple race series on the Arrow McLaren SP cars for the Indy 500.

Based in San Jose, CA, Cadence offers products and tools that help customers to design electronic products. Through the System Design Enablement strategy, the company offers software, hardware, services and reusable IC design blocks (IPs) to electronic systems and semiconductor customers.

Cadence’s core electronic design automation software and services enable engineers to develop different types of ICs. Its design IPs are directly integrated into the ICs.

System Connect tools and services are used for the design, analysis and verification of PCBs. Further, System Integration solutions aid in designing and analyzing systems as well as verifying system functionality.

Zacks Rank & Key Picks

Cadence currently has a Zacks Rank #2 (Buy).

Some other top-ranked stocks from the broader technology space are InterDigital IDCC, Vishay Intertechnology VSH and Pure Storage PSTG. InterDigital, Pure Storage and Vishay Intertechnology currently sport a Zacks Ranks #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for InterDigital's 2022 earnings is pegged at $3.28 per share, increasing 5.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 15%.

InterDigital's earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 141.13%. Shares of IDCC have declined 22.2% in the past year.

The Zacks Consensus Estimate for Vishay Intertechnology’s 2022 earnings is pegged at $2.68 per share, rising 10.3% in the past 60 days. The long-term earnings growth rate is anticipated to be 22.7%.

Vishay Intertechnology’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 4.96%. Shares of VSH have declined 17.7% in the past year.

The Zacks Consensus Estimate for Pure Storage’s fiscal 2023 earnings is pegged at 87 cents per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 31.3%.

Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 99.2%. Shares of PSTG have gained 20% in the past year.


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