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CDNS

Cadence Design

$67.45

-2.84 (-4.04%)

, NATI

National Instruments

$41.26

-0.89 (-2.11%)

16:08
12/02/19
12/02
16:08
12/02/19
16:08

Cadence to acquire AWR from National Instruments for about $160M in cash

Cadence Design Systems, Inc. (CDNS) and National Instruments Corporation (NATI) announced that they have entered into a definitive agreement pursuant to which Cadence expects to acquire AWR Corporation, a wholly owned subsidiary of National Instruments. AWR is an industry leader in high-frequency RF EDA software technology and will bring a highly talented RF team to Cadence. Concurrently, Cadence and NI also entered into a strategic alliance agreement to expand their relationship to enhance electronic system innovation with a focus on communications. AWR software is used by microwave and RF engineers to design wireless products for complex, high-frequency RF applications. The technology helps customers accelerate the design and product development cycle of systems used in communications, aerospace and defense, semiconductor, computer, and consumer electronics, by helping reduce the time it takes to go from concept to manufacturing. Under the terms of the definitive agreement, Cadence will pay approximately $160M in cash at closing and expects approximately 110 AWR employees to join Cadence. The acquisition is expected to close in the first quarter of 2020 and is subject to customary closing conditions, including regulatory approval.

CDNS

Cadence Design

$67.45

-2.84 (-4.04%)

NATI

National Instruments

$41.26

-0.89 (-2.11%)

  • 02

    Dec

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    Dec

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    Dec

  • 06

    Dec

CDNS Cadence Design
$67.45

-2.84 (-4.04%)

10/11/19
WELS
10/11/19
UPGRADE
Target $80
WELS
Outperform
Cadence Design upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Gary Mobley upgraded Cadence Design to Outperform from Market Perform with an $80 price target.
10/11/19
WELS
10/11/19
UPGRADE
Target $80
WELS
Outperform
Cadence Design upgraded to Outperform following pullback at Wells Fargo
As previously reported, Wells Fargo analyst Gary Mobley upgraded Cadence Design (CDNS) to Outperform from Market Perform following the stock's recent selloff and underperformance compared to peers Synopsys (SNPS) and Ansys (ANSS). He has raised his "Street-high" FY21 estimates based on his belief that the company should see initial revenue from its recent launch of two new products for the systems analysis market, Clarity and Celsius, the analyst noted. Diversification is key for Cadence given that the company, along with Synopsys, already have nearly 70% market share in the EDA software tools market, Mobley added in his upgrade note. He raised his price target on Cadence shares to $80, up from $70.
10/22/19
FBCO
10/22/19
NO CHANGE
Target $75
FBCO
Neutral
Cadence Design price target raised to $75 from $70 at Credit Suisse
Credit Suisse analyst John Pitzer raised his price target for Cadence Design to $75 from $70 following quarterly results that validated his positive secular thesis on EDA. The analyst reiterates a Neutral rating on the shares.
10/22/19
DADA
10/22/19
NO CHANGE
Target $80
DADA
Buy
Cadence Design to continue benefiting from industry drivers, says DA Davidson
DA Davidson analyst Thomas Diffely is keeping his Buy rating and $80 price target on Cadence Design after its Q3 earnings beat and raised FY19 guidance. The analyst notes that the quarter was "solid" as the company continues to outperform its sector peers despite the "challenging" market environment and trade tensions. Diffely also remains positive on electronic design automation, or EDA, industry amid the increased design activity and complexity along with the shift by EDA companies into large adjacent markets.
NATI National Instruments
$41.26

-0.89 (-2.11%)

05/01/19
DBAB
05/01/19
DOWNGRADE
DBAB
Hold
National Instruments downgraded to Hold from Buy at Deutsche Bank
10/03/19
STFL
10/03/19
NO CHANGE
Target $20
STFL
Buy
Stifel says unconfirmed M&A report on Cohu reinforces underappreciation of stock
Stifel analyst Brian Chin noted that Street Insider reported that Cohu (COHU) had been approached by National Instruments (NATI) regarding a sale of its semi test business, which Cohu is said to have rebuffed. His "initial kneejerk reaction is to be somewhat suspicious given the severe gross margin differential between the aforementioned buyer and target," but Chin still thinks the presence of the report underscores that Cohu is underappreciated and "warrants greater attention by investors, strategic or otherwise." The analyst, noting his view on the underappreciated mid-peak cycle earnings potential of the company, keeps a Buy rating and $20 price target on Cohu shares.
10/17/19
SUSQ
10/17/19
INITIATION
Target $40
SUSQ
Neutral
National Instruments initiated with a Neutral at Susquehanna
Susquehanna analyst Mehdi Hosseini initiated coverage of National Instruments with a Neutral rating and $40 price target.
10/17/19
SUSQ
10/17/19
INITIATION
Target $40
SUSQ
Neutral
National Instruments initiated with a Neutral at Susquehanna
Susquehanna analyst Mehdi Hosseini initiated coverage of National Instruments with a Neutral rating and $40 price target. The analyst believes the company's 5G opportunity "will materialize later" when SA sub-6 GHz is fully deployed. Further, mmWave is expected to help National Instruments, but that is a few years out, adds Hosseini.

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MGTA

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