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Cadence Design Systems (CDNS)

Cadence Design Systems Inc. is a pivotal leader in electronic design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design strategy to deliver software, hardware and IP that turn design concepts into reality. Cadence customers are the world's most innovative companies, delivering extraordinary electronic products from chips to boards to systems for the most dynamic market applications, including consumer, hyperscale computing, 5G communications, automotive, mobile, aerospace, industrial and healthcare. For six years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For.

Company profile

Ticker
CDNS
Exchange
Website
CEO
Lip-Bu Tan
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Applied Wave Research Limited • AWR LLC • Beijing Cadence Information Technology Co., Ltd. • Cadence Design (Israel) II, Ltd. • Cadence Design Systems (Canada) Ltd. • Cadence Design Systems (Cyprus) Limited • Cadence Design Systems (India) Private Limited • Cadence Design Systems (Ireland) Limited • Cadence Design Systems (Israel) Ltd. • Cadence Design Systems (Japan) B.V. ...
IRS number
770148231

CDNS stock data

Analyst ratings and price targets

Last 3 months

Calendar

25 Apr 22
26 Jun 22
31 Dec 22
Quarter (USD) Apr 22 Jan 22 Oct 21 Jul 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jan 22 Jan 21 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
21 Jun 22 Tan Lip Bu Common Stock Sell Dispose S Yes Yes 150.065 200 30.01K 1,197,268
21 Jun 22 Tan Lip Bu Common Stock Sell Dispose S Yes Yes 149.271 9,821 1.47M 1,197,468
21 Jun 22 Tan Lip Bu Common Stock Sell Dispose S Yes Yes 148.5966 27,559 4.1M 1,207,289
21 Jun 22 Tan Lip Bu Common Stock Sell Dispose S Yes Yes 147.7897 1,920 283.76K 1,234,848
21 Jun 22 Tan Lip Bu Common Stock Sell Dispose S Yes Yes 145.884 500 72.94K 1,236,768
9 Jun 22 Devgan Anirudh Common Stock Sell Dispose S No Yes 159.8146 3,126 499.58K 189,387
9 Jun 22 Devgan Anirudh Common Stock Sell Dispose S No Yes 159.1185 21,531 3.43M 192,513
9 Jun 22 Devgan Anirudh Common Stock Sell Dispose S No Yes 158.3502 6,857 1.09M 214,044
9 Jun 22 Devgan Anirudh Common Stock Sell Dispose S No Yes 157.1117 3,703 581.78K 220,901
6 Jun 22 Paul Cunningham Common Stock Sell Dispose S No Yes 160.9 250 40.23K 97,014
83.5% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 770 799 -3.6%
Opened positions 84 158 -46.8%
Closed positions 113 55 +105.5%
Increased positions 315 291 +8.2%
Reduced positions 270 254 +6.3%
13F shares Current Prev Q Change
Total value 37.82B 43.4B -12.8%
Total shares 230.39M 233.04M -1.1%
Total puts 651.6K 1.42M -54.0%
Total calls 469.2K 1.07M -56.3%
Total put/call ratio 1.4 1.3 +5.2%
Largest owners Shares Value Change
BLK Blackrock 33.43M $5.5B +6.0%
Vanguard 31.77M $5.22B +1.3%
Massachusetts Financial Services 19.65M $3.23B +1.5%
STT State Street 11.56M $1.9B -2.0%
FMR 9.88M $1.63B -5.2%
Geode Capital Management 5.53M $906.82M +3.4%
Alkeon Capital Management 4.2M $690.81M -2.4%
JHG Janus Henderson 3.53M $580.98M -7.1%
Manufacturers Life Insurance Company, The 3.18M $523.69M +4.4%
Brown Advisory 3.18M $522.85M +2.7%
Largest transactions Shares Bought/sold Change
Parnassus Investments 288.61K -4.78M -94.3%
Norges Bank 0 -2.41M EXIT
BLK Blackrock 33.43M +1.91M +6.0%
Citadel Advisors 1.18M +1.11M +1540.1%
1832 Asset Management 93.83K -919.34K -90.7%
Holocene Advisors 797.12K +593.42K +291.3%
FMR 9.88M -543.68K -5.2%
IPXAF Impax Asset Management 1.56M -522.19K -25.0%
Van Eck Associates 1.72M +518.66K +43.1%
BEN Franklin Resources 2.34M +513.72K +28.1%

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 natural disasters and global climate change.
  • 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.
  • 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, government investigations or regulatory proceedings 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 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.
  • Our variable rate indebtedness subjects us to interest rate risk, which could cause our debt service obligations to increase significantly.
  • Various factors could increase our future borrowing costs or reduce our access to capital, including a lowering or withdrawal of the ratings assigned to us and 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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