Cadence Design Systems CDNS has joined forces with Autodesk to expedite the development of intelligent systems. This collaboration integrates Autodesk Fusion with Cadence's Allegro X and OrCAD X platforms to facilitate two-way communication between PCB designers and mechanical engineers.
The collaboration is aimed at reducing errors and streamlining the creation of smart products by leveraging the cloud-based mechanical design and AI/ML PCB design and multiphysics analysis for power, thermal and electromagnetics.
The partnership aims to address challenges faced by electrical and mechanical engineers in producing products with fewer revisions, particularly in the face of supply-chain disruptions and increasing product complexity. The Allegro X and OrCAD X platforms support Cadence’s Intelligent System Design strategy, which accelerates system innovation.
Cadence Design Systems, Inc. Price and Consensus
Cadence Design Systems, Inc. price-consensus-chart | Cadence Design Systems, Inc. Quote
Cadence offers products and tools that help customers to design electronic products. The company continues to invest heavily in verification and digital design products, helping it launch products that address the ever-growing needs of electronics and semiconductor companies. Going ahead, the company is likely to gain from clients increasing their research and development spending in AI-driven automation.
In October, the company announced its participation in Arm Total Design, which is an initiative focused on aiding and expediting the creation of specialized system on chips using Arm Neoverse Compute Subsystems. The collaboration between Cadence and Arm within Arm Total Design enables shared customers to develop unique products using a validated, customizable subsystem, reducing costs, risks, and time to market.
Prior to that, the company announced an enhanced partnership with Arm to accelerate the deployment of data center silicon on the Arm Neoverse V2 platform. This collaboration involved refining Cadence's AI-driven RTL-to-GDS digital process for Neoverse V2 and delivering 5nm and 3nm Rapid Adoption Kits.
CDNS currently carries a Zacks Rank #2 (Buy). In the past year, the stock has gained 56.4% compared with the Zacks sub-industry’s growth of 46.4%.
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Other Stocks to Consider
Some other top-ranked stocks in the broader technology space are Guidewire Software GWRE, Flex FLEX and Badger Meter BMI. Each stock presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Guidewire Software’s fiscal 2024 earnings per share (EPS) has increased 10.5% in the past 60 days to 74 cents. Shares of GWRE have soared 47.1% in the past year
The Zacks Consensus Estimate for Flex’s fiscal 2024 EPS has gained 3.6% in the past 60 days to $2.56. Flex’s long-term earnings growth rate is 12.4%. Shares of FLEX have gained 29.5% in the past year.
The Zacks Consensus Estimate for Badger Meter’s 2023 EPS has improved 7.3% in the past 60 days to $3.07.
Badger Meter’s earnings outpaced the Zacks Consensus Estimate in all the last four quarters, the average surprise being 10.3%. Shares of BMI have rallied 24.6% in the past year.
Zacks Names #1 Semiconductor Stock
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Flex Ltd. (FLEX) : Free Stock Analysis Report
Cadence Design Systems, Inc. (CDNS) : Free Stock Analysis Report
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