Needham & Company Highlights From DAC 2012: Review of CDNS, SNPS, & MENT
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Price: $14.72 +0.82%
Rating Summary:
4 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
4 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade CDNS Now!
Needham & Company Highlights From DAC 2012
Analyst , Richard Valera, said, "We attended the 49th annual Design Automation Conference in San Francisco, California last week. Key topics of discussion included increased IP content in SoCs, the ongoing move to 20nm (which we think could help sustain the current healthy levels of EDA spending) and implications of Synopsys’ acquisition of Magma. While there was no breakthrough news, our many conversations with industry participants reinforced our belief that EDA fundamentals remain healthy, notwithstanding the challenging macro backdrop. We continue to see EDA as an attractive, relatively
safe tech investment space and maintain our Buy ratings on all three of companies in our coverage universe: Cadence (Nasdaq: CDNS), Synopsys (Nasdaq: SNPS) and Mentor (Nasdaq: MENT). While valuations of Synopsys and Cadence are now at virtual parity on our 2013 estimates, we see Synopsys’ strong position in the relatively high growth IP space as affording it a narrow edge over Cadence."
Needham maintains a 'Buy' on CDNS, SNPS and MENT, with price targets of $13, $36, and $19, respectively.
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Analyst , Richard Valera, said, "We attended the 49th annual Design Automation Conference in San Francisco, California last week. Key topics of discussion included increased IP content in SoCs, the ongoing move to 20nm (which we think could help sustain the current healthy levels of EDA spending) and implications of Synopsys’ acquisition of Magma. While there was no breakthrough news, our many conversations with industry participants reinforced our belief that EDA fundamentals remain healthy, notwithstanding the challenging macro backdrop. We continue to see EDA as an attractive, relatively
safe tech investment space and maintain our Buy ratings on all three of companies in our coverage universe: Cadence (Nasdaq: CDNS), Synopsys (Nasdaq: SNPS) and Mentor (Nasdaq: MENT). While valuations of Synopsys and Cadence are now at virtual parity on our 2013 estimates, we see Synopsys’ strong position in the relatively high growth IP space as affording it a narrow edge over Cadence."
Needham maintains a 'Buy' on CDNS, SNPS and MENT, with price targets of $13, $36, and $19, respectively.
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