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CDNS Cadence Design Systems

Cadence Design Systems, Inc., headquartered in San Jose, California, is an American multinational computational software company, founded in 1988 by the merger of SDA Systems and ECAD, Inc. The company produces software, hardware and silicon structures for designing integrated circuits, systems on chips and printed circuit boards. Cadence Design Systems began as an electronic design automation company, formed by the 1988 merger of Solomon Design Automation , co-founded in 1983 by Richard Newton, Alberto Sangiovanni-Vincentelli and James Solomon, and ECAD, a public company co-founded by Glen Antle and Paul Huang in 1982. SDA's CEO Joseph Costello was appointed as CEO of the newly combined company.

Company profile

Ticker
CDNS
Exchange
CEO
Lip-Bu Tan
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
770148231

CDNS stock data

(
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Calendar

14 May 21
17 Jun 21
1 Jan 22
Quarter (USD)
Apr 21 Jan 21 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jan 21 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 742.98M 742.98M 742.98M 742.98M 742.98M 742.98M
Cash burn (monthly) 61.82M 16.94M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 152.17M 41.7M n/a n/a n/a n/a
Cash remaining 590.81M 701.28M n/a n/a n/a n/a
Runway (months of cash) 9.6 41.4 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
14 Jun 21 Paul Cunningham Common Stock Sell Dispose S No Yes 129.29 1,000 129.29K 101,218
4 Jun 21 Paul Cunningham Common Stock Payment of exercise Dispose F No No 126.75 143 18.13K 102,218
4 Jun 21 Paul Cunningham Common Stock Payment of exercise Dispose F No No 126.75 720 91.26K 102,361
4 Jun 21 Chin-chi Teng Common Stock Payment of exercise Dispose F No No 126.75 413 52.35K 176,399
4 Jun 21 Chin-chi Teng Common Stock Payment of exercise Dispose F No No 126.75 1,239 157.04K 176,812
17 May 21 Tan Lip Bu Common Stock Sell Dispose S No Yes 121.47 50,000 6.07M 743,894
17 May 21 Tan Lip Bu Common Stock Option exercise Aquire M No Yes 17.16 50,000 858K 793,894
17 May 21 Tan Lip Bu NQSO Common Stock Option exercise Dispose M No No 17.16 50,000 858K 250,000
26 Apr 21 Paul Cunningham Common Stock Sell Dispose S No Yes 141.39 1,000 141.39K 103,081

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

83.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 675 677 -0.3%
Opened positions 71 119 -40.3%
Closed positions 73 69 +5.8%
Increased positions 255 252 +1.2%
Reduced positions 267 233 +14.6%
13F shares
Current Prev Q Change
Total value 31.89B 32.73B -2.6%
Total shares 232.77M 239.97M -3.0%
Total puts 738.24K 741.3K -0.4%
Total calls 620K 741.3K -16.4%
Total put/call ratio 1.2 1.0 +19.1%
Largest owners
Shares Value Change
BLK Blackrock 32.6M $4.47B +1.0%
Vanguard 31.69M $4.34B -0.4%
Massachusetts Financial Services 22.49M $3.08B -8.8%
STT State Street 11.69M $1.6B -1.7%
FMR 8.91M $1.22B +43.8%
Parnassus Investments 5.79M $793.75M -17.0%
Alkeon Capital Management 5.75M $787.28M +2.3%
Geode Capital Management 5.03M $687.43M +0.7%
Pictet Asset Management 3.95M $540.59M -18.5%
Ubs Global Asset Management Americas 3.63M $496.92M +17.2%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -2.74M EXIT
FMR 8.91M +2.71M +43.8%
Massachusetts Financial Services 22.49M -2.17M -8.8%
ATAC Neuberger Berman 1.77M +1.75M +12032.6%
Swedbank 0 -1.64M EXIT
1832 Asset Management 22.54K -1.52M -98.5%
Parnassus Investments 5.79M -1.18M -17.0%
Liontrust Investment Partners 0 -1.14M EXIT
Voya Investment Management 781.29K -916.33K -54.0%
JHG Janus Henderson 3.51M +909.82K +35.0%

Financial report summary

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Risks
  • The ongoing COVID-19 pandemic could continue to adversely affect our business, results of operations and financial condition.
  • We have experienced varied operating results, and our operating results for any particular fiscal period are affected by the timing of revenue recognition, particularly for our emulation and prototyping hardware and IP products.
  • Any periods of uncertainty in the global economy and international trade relations, changes in governmental policies relating to technology, and any potential downturn in the semiconductor and electronics industries, may negatively impact our business and reduce our bookings levels and revenue.
  • We are subject to governmental export and import controls that could subject us to liability or impair our ability to compete in global markets as well as a variety of other laws and regulations.
  • We have acquired and expect to acquire other companies and businesses and may not realize the expected benefits of these acquisitions.
  • We make and expect to make strategic investments and may not realize the expected benefits of these investments.
  • The effect of foreign exchange rate fluctuations may adversely impact our revenue, expenses, cash flows and financial condition.
  • We could suffer serious harm to our business because of the infringement of our intellectual property rights by third parties or because of our infringement of the intellectual property rights of third parties, as well as any associated efforts to enforce such rights, including through intellectual property litigation.
  • If our security measures are breached or vulnerabilities are discovered in our products and services, and an unauthorized party obtains access to customer data, financial data or assets or our proprietary business information, our information systems and products and services may be perceived as being unsecure, we could experience business or financial harm, and our business and reputation could be harmed.
  • Risks associated with our international operations could adversely impact our financial condition.
  • We depend upon our management team and key employees, and our failure to attract, train, motivate and retain management and key employees may make us less competitive and therefore harm our results of operations.
  • We rely on our proprietary technology, as well as software and other intellectual property rights licensed to us by third parties, and we cannot assure that the precautions taken to protect our rights will be adequate or that we will continue to be able to adequately secure such intellectual property rights from third parties.
  • We have substantial cash requirements in the United States, but a significant portion of our cash is held and generated outside of the United States, and if our cash available in the United States is insufficient to meet our operating expenses and debt repayment obligations in the United States, then we may be required to raise cash in ways that could negatively affect our financial condition, results of operations and the market price of our common stock.
  • The long sales cycle of our products and services may cause our operating results to fluctuate unexpectedly.
  • Our restructuring plans incur substantial costs and may not result in the benefits we have anticipated, possibly having a negative effect on our future operating results.
  • The investment of our cash is subject to risks that may cause losses and affect the liquidity of these investments.
  • Our business is subject to the risk of earthquakes and other catastrophic events.
  • Customer consolidation could affect our operating results.
  • Our failure to respond quickly to technological developments or customers’ increasing technological requirements and to continue to develop or acquire technological capabilities could make our products uncompetitive and obsolete and impede our ability to address the requirements in technology segments that are expected to contribute to our growth.
  • We have invested and expect to continue to invest in research and development efforts for new and existing products and technologies and technical sales support. Such investments may affect our operating results, and, if the return on these investments is lower or develops more slowly than we expect, our revenue and operating results may suffer.
  • Our operating results and revenue could be adversely affected by customer payment delays, customer bankruptcies and defaults or modifications of licenses.
  • Competitive pressures may require us to reduce our pricing, which could have an adverse effect on our results of operations.
  • The competition in our industries is substantial, and we may not be able to continue to compete successfully in our industries.
  • Our future revenue is dependent in part upon our installed customer base continuing to license or buy products and purchase services.
  • We depend on a single supplier or a limited number of suppliers for certain hardware components and contract manufacturers for production of our emulation and prototyping hardware products, making us vulnerable to supply disruption and price fluctuation.
  • Our results could be adversely affected by an increase in our effective tax rate as a result of U.S. and foreign tax law changes, outcomes of current or future tax examinations, or by material differences between our forecasted and actual effective tax rates.
  • Litigation could adversely affect our financial condition or operations.
  • Errors or defects in our products and services could expose us to liability and harm our business.
  • Our reported financial results may be adversely affected by changes in United States generally accepted accounting principles, and we may incur significant costs to adjust our accounting systems and processes to comply with significant changes.
  • If we become subject to unfair hiring claims, we could be prevented from hiring needed employees, incur liability for damages and incur substantial costs in defending ourselves.
  • We are subject to evolving corporate governance and public disclosure expectations and regulations that impact compliance costs and risks of noncompliance.
  • Our stock price has been subject to fluctuations and may continue to be subject to fluctuations.
  • Anti-takeover defenses in our certificate of incorporation and bylaws and certain provisions under Delaware law could prevent an acquisition of our company or limit the price that investors might be willing to pay for our common stock.
  • Our debt obligations expose us to risks that could adversely affect our business, operating results or financial condition, and could prevent us from fulfilling our obligations under such indebtedness.
  • At the option of the holders of our outstanding notes, we may, under certain circumstances, be required to repurchase such notes.
  • The terms of the agreement governing our revolving credit facility and the indenture governing our 2024 Notes restrict our current and future operations, particularly our ability to respond to changes or to take certain actions.
  • We may not be able to generate sufficient cash to service all of our indebtedness and may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful.
  • Despite our current level of indebtedness, we and our subsidiaries may incur substantially more debt. This could further exacerbate the risks to our financial condition described above.
  • Various factors could increase our future borrowing costs or reduce our access to capital, including a lowering or withdrawal of the ratings assigned to our 2024 Notes by credit rating agencies.
Management Discussion
  • Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • We urge you to consider these factors carefully in evaluating the forward-looking statements contained in this Quarterly Report. All subsequent written or oral forward-looking statements attributable to our company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements included in this Quarterly Report are made only as of the date of this Quarterly Report. We do not intend, and undertake no obligation, to update these forward-looking statements.
  • We enable our customers to develop electronic products. Our products and services are designed to give our customers a competitive edge in their development of integrated circuits (“ICs”), systems-on-chip (“SoCs”), and increasingly sophisticated electronic devices and systems. Our products and services do this by optimizing performance, minimizing power consumption, shortening the time to bring our customers’ products to market, improving engineering productivity and reducing their design, development and manufacturing costs. We offer software, hardware, services and reusable IC design blocks, which are commonly referred to as intellectual property (“IP”).
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: Asia, Australia, CFD, Codification, composition, conflicting, covered, cybersecurity, debarment, debug, device, diligence, drop, Empyrean, enquire, ensure, exceeded, field, fluid, Huada, inception, incomplete, leader, low, mesh, Meshing, Moore, NUMECA, Numerical, Palladium, Pointwise, posed, preliminary, privacy, Protium, remediate, repaid, SA, shortage, simple, speculation, speculative, standing, talent, timeline, upstream, widespread, Xpeedic
Removed: abandoned, adjustment, adversity, AG, aid, aim, ASC, assume, ASU, augmented, AWR, conducted, consisting, derecognition, determination, division, establishing, establishment, extreme, file, focusing, Framework, Germany, hybrid, illegal, India, infringed, install, instance, Integrand, interpretative, Korea, leadership, manufactured, Mentor, merger, minimum, modernize, modified, NaN, Occasionally, owed, permanent, precautionary, precluded, preferential, prepayment, programmable, propose, prospective, pursued, realignment, reality, recommended, Relief, Republic, resolution, retained, retrospective, revised, securing, signal, spread, standardize, structure, taxed, test, treatment, ultimate, vacated, virtual, volume

Patents

GRANT
Utility
Method and apparatus to accelerate verification signoff by selective re-use of integrated coverage models
15 Jun 21
In the context of electronic design automation and in particular coverage-driven verification, each of a number of integrated coverage models to be merged for coverage analysis are divided between a code coverage model and a functional coverage model.
GRANT
Utility
Routing based on pin placement within routing blockage
8 Jun 21
Various embodiments described herein provide for routing of wires of a network of a circuit design based on pin placement within a routing blockage.
GRANT
Utility
Track assignment by dynamic programming
8 Jun 21
Various embodiments described herein provide for track assignment of wires of a network of a circuit design by dynamic programming.
GRANT
Utility
Method and system for sequential equivalence checking
1 Jun 21
A method for sequential equivalence checking (SEC) of two representations of an electronic design may include using a processor, automatically selecting a plurality of cutpoints in the two representations of the electronic design; using a processor, automatically executing a prove-from strategy on the plurality of cut point pairs to identify a failed cut point pair in the two electronic designs; and using the processor, automatically extending a trace corresponding to the identified failed cut point pair to identify a deeper failed cut point pair or a failed output pair in the two electronic designs.
GRANT
Utility
Methods, systems, and computer program product for characterizing an electronic design with a susceptibility window
1 Jun 21
Disclosed are methods, systems, and articles of manufacture for characterizing an electronic design with a susceptibility window.