Top 12 Trending AI Stocks on Latest News and Ratings

6. Cadence Design Systems, Inc. (NASDAQ:CDNS)

Number of Hedge Fund Holders: 53

Cadence Design Systems, Inc. (NASDAQ:CDNS) provides worldwide software, hardware, services, and reusable integrated circuit (IC) design blocks. On January 21st, the company reached an agreement to acquire Secure-IC, a prominent provider of embedded security IP platforms. The acquisition is poised to strengthen the company’s IP portfolio while addressing the growing need for integrated security in electronic systems across various industries.

Additionally, the acquisition should complement the company’s silicon-proven IP offerings, which include interface artificial intelligence, machine learning, and DSP solutions. Cadence Design Systems, Inc.’s (NASDAQ:CDNS) current IP offerings, which range from protocol controllers and AI accelerators to supporting clients using different processor architectures, will present mutually beneficial synergistic go-to-market opportunities. After the deal closes, the two are well-positioned to grow internationally, provide customers with more value, and develop the next wave of embedded cybersecurity solutions for intricate silicon systems and chipsets.