Mayfair International Capital - Cadence & Synopsys Offer 'Strong Evolution, Low Cyclicality'

According to a Wall Street analyst, Cadence Design Systems (CDNS) and Synopsys (SNPS), both pioneers in electronic design automation, are relative safe havens in the volatile semiconductor business.
By: Mayfair International Capital
KOWLOON, Hong Kong - Oct. 20, 2023 - PRLog -- Cadence and Synopsys stock are both trading at all-time highs.

BofA Securities analyst Vivek Arya projected in a letter to clients on Monday that shares of both firms would rise due to their "strong growth" and "low cyclicality."

Arya reaffirmed his buy recommendations for Cadence and Synopsys. He set a price goal of 305 for CDNS and 600 for SNPS.

Cadence stock closed at 251.42 today, up 0.5% on the day. Synopsys' shares rose 0.5% to $491.96.

Cadence and Synopsys "provide compelling EPS (earnings per share) compounding investments levered to secularly rising technological complexity," according to Arya.

Arya expects sales of electronic design automation and related semiconductor intellectual property will more than double over the next five to six years, expanding at a compound annual rate of 12%-15%. According to him, the complexity of emerging artificial intelligence processors will fuel growth.

According to him, the EDA and design intellectual property sector would produce around $14.1 billion in sales this year.

The possibility of increased US government limitations on tech sales to China is one of the market's risks. Cadence and Synopsys shares have also received backlash from investors because to their premium valuations, according to Arya.

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