North Carolina Treasurer Increases Position in Cadence Design Systems by 3.7%
May 16, 2023
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The Treasurer of North Carolina has recently taken a bold move in increasing the state’s share in Cadence Design Systems ($NASDAQ:CDNS), Inc. by a significant 3.7%. This is a courageous and strategic decision that could potentially reap great rewards for the state. Cadence Design Systems, Inc. is a leading provider of digital design tools, technology and engineering solutions for the global electronics industry. With a rich heritage of innovation and customer success, the company serves customers from all over the world.
Cadence has been at the forefront of developing advanced EDA (Electronic Design Automation) solutions that enable system designers and engineers to bring revolutionary products to life. The company’s products are used in a variety of markets, from aerospace and automotive to mobile, medical and industrial.
Analysis
At GoodWhale, we have studied the fundamentals of CADENCE DESIGN SYSTEMS and based on our Risk Rating, we have concluded that they are a medium risk investment in terms of both financial and business aspects. We have also identified one risk warning in their balance sheet, so if you would like to dig deeper into their financial situation, please register with us to get more information. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for CDNS. More…
| Total Revenues | Net Income | Net Margin |
| 3.68k | 855.42 | 23.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CDNS. More…
| Operations | Investing | Financing |
| 1.17k | -754.43 | -593.72 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CDNS. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 5.17k | 2.23k | 10.76 |
Key Ratios Snapshot
Some of the financial key ratios for CDNS are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.7% | 28.2% | 29.5% |
| FCF Margin | ROE | ROA |
| 28.3% | 23.9% | 13.1% |
Peers
Cadence Design Systems Inc is one of the leading electronic design automation software providers. The company offers a comprehensive suite of tools, IP and services that enable global electronic system and semiconductor companies to create innovative products that improve the quality of life.
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Summary
Cadence Design Systems, Inc. is a technology leader specializing in digital design automation and system-on-chip (SoC) design. Recently, the Treasurer of the State of North Carolina made a strategic investment in the company by increasing its position by 3.7%. This new investment is a sign of confidence in the company’s future prospects. Financial analysts suggest that Cadence Design Systems is well-positioned to take advantage of the increasing demand for integrated system-on-chip designs and their products.
In addition, with its strong customer base and experienced leadership team, Cadence could be well-positioned for long-term growth and profitability. Overall, this investment may be seen as a sound investment for investors who are looking for stability and growth potential.
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