Cadence Design Systems
’
CDNS
Clarity 3D Solver offering is being utilized by Butterfly Network to improve the design of its advanced handheld whole-body ultrasound system.
Cadence’s
Clarity 3D Solver
is a 3D electromagnetic simulation software solution. It is designed to aid engineers to overcome electromagnetic challenges while designing systems for automotive, 5G, high-performance computing and machine-learning applications. The solution is up to 10 times faster when compared with legacy 3D field solvers and can maintain gold-standard accuracy, noted Cadence.
Cadence stated that Butterfly Network has been able to attain five times increased speed in advanced model characterization (gold-standard accuracy) compared with other similar solutions.
Clarity 3D Solver is also helping Butterfly Network to safeguard the critical signal and power integrity of the systems. This will help to quickly relay high-quality ultrasound images to the connected smart device, added Cadence.
Cadence Design Systems, Inc. Price and Consensus
Cadence Design Systems, Inc. price-consensus-chart
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Cadence Design Systems, Inc. Quote
Robust Product Portfolio to Drive Growth
Cadence’s top-line performance is being driven by a robust product portfolio that includes solutions like Cadence Cerebrus Intelligent Chip Explorer, Spectre X, Virtuoso, Clarity 3D Transient Solver, Sigrity-X, Helium Virtual and Hybrid Studio, Xclelium Logic Simulation, Palladium Enterprise Emulation and Protium Enterprise Prototyping, among others.
Cadence is witnessing 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.
Increasing investments in emerging trends like Internet-of-things (IoT), augmented and virtual reality and autonomous vehicle sub-systems present a big revenue growth opportunity for the company in the long haul.
Cadence continues to roll out new products to meet customer requirements. , The company recently unveiled Cadence Integrity 3D-IC platform within the System Analysis and Design portfolio. The platform combines 3D design planning, implementation and system analysis in a single cockpit. It can be used for 5G communications, hyperscale computing, mobile and automotive applications.
In October 2021, Cadence rolled out Cadence Tensilica HiFi 1 DSP solution. It is designed to boost user experience by enhancing audio/voice functionality for small battery-powered devices like hearing aids, Bluetooth headsets, smartwatches and other similar wearables.
This rapid uptake of the company’s products instils confidence in the stock. Shares of Cadence have surged 40.4% in the past year compared with the
industry
’s rally of 39.5%.
Zacks Rank & Stocks to Consider
At present, Cadence currently carries a Zacks Rank #2 (Buy).
Some better-ranked stocks in the broader technology sector include
Arrow Electronics
ARW
,
Cirrus Logic
CRUS
and
Alphabet
GOOGL
. While Alphabet and Cirrus Logic sport a Zacks Rank #1 (Strong Buy), Arrow Electronics carries a Zacks Rank #2. You can see
the complete list of today’s Zacks #1 Rank stocks here.
For Arrow Electronics, the Zacks Consensus Estimate for 2021 earnings is pegged at $14.60 per share, up 8.1% in the past 60 days. The long-term earnings growth rate of the company is pegged at 27.4%.
Arrow Electronics’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 18.6%. Shares of the company have rallied 27.7% year to date.
The Zacks Consensus Estimate for Cirrus Logic’s fiscal 2022 earnings is pegged at $5.37 per share, up 7.6% in the past 60 days. The long-term earnings growth rate of the company is pegged at 9.3%.
Cirrus Logics’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 14.9%. Shares of the company have rallied 10.6% year to date.
The Zacks Consensus Estimate for Alphabet’s 2021 earnings is pegged at $108.29 per share, up 6.3% in the past 60 days. The long-term earnings growth rate of the company is pegged at 25.8%.
Alphabet’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 41.5%. Shares of the company have rallied 64.2% year to date.
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