Cadence Design Systems CDNS unveiled a new set of applications designed to enhance the capabilities of its flagship Palladium Z2 Enterprise Emulation System.
The applications are domain-specific apps that are tailored to help customers navigate the increasing complexity of system design, boosting system-level accuracy and expediting low-power verification for advanced applications like artificial intelligence, machine learning, hyperscale, and mobile technologies.
The Cadence applications and updates deliver industry-leading performance and feature to address the growing challenges, providing capacity, performance, and debug efficiency to meet stringent time-to-market demands.
Cadence Design Systems, Inc. Price and Consensus
Cadence Design Systems, Inc. price-consensus-chart | Cadence Design Systems, Inc. Quote
The newly introduced and improved Palladium Apps include the 4-State Emulation App, Real Number Modeling App, and Dynamic Power Analysis App, each offering cutting-edge capabilities to accelerate simulations and power analysis for complex system-on-chips (SoCs).
The Palladium Z2 emulation system is part of the broader Cadence Verification Suite and supports the company’s Intelligent System Design strategy that enables SoC design excellence. The company is experiencing strong demand for its software — particularly verification and digital design products — from customers providing datacenter servers, networking products and smartphones that continue to invest in new design concepts and projects.
In the third quarter, Palladium and Protium (especially Z2 and X2) platforms witnessed continued momentum with many deals wins from clients in the AI, hyperscale computing and automotive segments.
Cadence offers products and tools that help customers to design electronic products. The company continues to invest heavily in verification and digital design products, allowing it to 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.
However, higher research & development costs, stiff competition and weakness prevailing over global macroeconomic conditions remain concerns for this Zacks Rank #4 (Sell) stock.
Stocks to Consider
Some better-ranked stocks worth considering in the broader technology space are Blackbaud BLKB, NETGEAR NTGR and Watts Water Technologies WTS. NETGEAR sports a Zacks Rank #1 (Strong Buy), while Watts Water Technologies and Blackbaud carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings per share (EPS) has inched up 1.8% in the past 60 days to $3.86. BLKB’s long-term earnings growth rate is 23.4%.
Blackbaud’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 10.6%. Shares of BLKB have gained 31% in the past year.
The Zacks Consensus Estimate for 2023 is pegged at a loss of 9 cents per share for NETGEAR, which remained unchanged in the past 30 days.
NTGR’s earnings outpaced the Zacks Consensus Estimate in three of the last four quarters while missing once. The average surprise was 127.5%. Shares of NTGR have lost 29.5% in the past year.
The Zacks Consensus Estimate for Watts Water Technologies 2023 EPS has improved 3.9% in the past 60 days to $8.08.
WTS’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 11.8%. Shares of WTS have soared 23.2% in the past year.
NETGEAR, Inc. (NTGR) : Free Stock Analysis Report
Blackbaud, Inc. (BLKB) : Free Stock Analysis Report
Cadence Design Systems, Inc. (CDNS) : Free Stock Analysis Report
Watts Water Technologies, Inc. (WTS) : Free Stock Analysis Report
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