I wrote about Rich Valera from Needham and his presentation at #55DAC last month. Rich and I had a very spirited conversation afterwards and one thing we agreed on is the rise of EDA and this is the latest example:
Needham raises its Cadence Design Systems target from $47 to $50 (11% upside) following yesterday’s earnings report. Firm says Cadence’s fundamentals remain robust despite recent cautionary datapoints in the semi and semi cap markets. Needham says Cadence benefits from strong design activity across verticals from auto to IoT and will likely continue share gains in digital.
Cadence Design Systems (NASDAQ:reports Q2 results that beat EPS and revenue estimates with an 8% Y/Y revenue growth. In-line Q3 guidance has revenue from $510M to $520M (consensus: $516.91M) and EPS from $0.40 to $0.42 (consensus: $0.40). FY18 guidance has in-line revenue of $2.07B to $2.09B (consensus: $2.07B) and upside EPS of $1.64 to $1.70 (consensus: $1.62).Here is the blog/presentation I mentioned above:
55DAC Trip Report Needham Opening Presentation
The latest conference call transcript:
Cadence Design Systems Inc. (CDNS) CEO Lip-Bu Tan on Q2 2018 Results - Earnings Call Transcript
I have been pitching EDA to Wall Street for the past 5 years with limited success up until the Mentor acquisition by Seimens. Now I get more calls about EDA than most other semiconductor topics, absolutely. The question always is: Will EDA stocks continue to flourish? Definitely. More companies are doing their own chips and there are less vendors to choose from so it is simple math. Any other questions let me know. EDA is one of my favorite topics.
Needham raises its Cadence Design Systems target from $47 to $50 (11% upside) following yesterday’s earnings report. Firm says Cadence’s fundamentals remain robust despite recent cautionary datapoints in the semi and semi cap markets. Needham says Cadence benefits from strong design activity across verticals from auto to IoT and will likely continue share gains in digital.
Cadence Design Systems (NASDAQ:reports Q2 results that beat EPS and revenue estimates with an 8% Y/Y revenue growth. In-line Q3 guidance has revenue from $510M to $520M (consensus: $516.91M) and EPS from $0.40 to $0.42 (consensus: $0.40). FY18 guidance has in-line revenue of $2.07B to $2.09B (consensus: $2.07B) and upside EPS of $1.64 to $1.70 (consensus: $1.62).Here is the blog/presentation I mentioned above:
55DAC Trip Report Needham Opening Presentation
The latest conference call transcript:
Cadence Design Systems Inc. (CDNS) CEO Lip-Bu Tan on Q2 2018 Results - Earnings Call Transcript
I have been pitching EDA to Wall Street for the past 5 years with limited success up until the Mentor acquisition by Seimens. Now I get more calls about EDA than most other semiconductor topics, absolutely. The question always is: Will EDA stocks continue to flourish? Definitely. More companies are doing their own chips and there are less vendors to choose from so it is simple math. Any other questions let me know. EDA is one of my favorite topics.
Last edited: