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SAN JOSE, Calif. - Cadence Design Systems, Inc. (NASDAQ:CDNS) announced Monday the appointment of Dr. Luc Van den hove to its board of directors, effective January 1, 2026. The computational software leader, currently valued at $84.5 billion, has demonstrated impressive financial health with a 19.7% revenue growth over the last twelve months.
Van den hove currently serves as chief executive officer of imec, a research and innovation hub in nanoelectronics and digital technologies. He has been with imec since its founding in 1984 and has served as its president and CEO since 2009.
According to the company's press release, Van den hove will continue in his role at imec through March 31, 2026, after which he will transition to chair of imec's board of directors on April 1, 2026.
Prior to becoming president and CEO, Van den hove held several positions at imec, including executive vice president, chief operating officer, and vice president of the silicon process and device technology division. He holds a PhD in electrical engineering from KU Leuven, Belgium, and also serves as a director of Proximus.
ML Krakauer, chair of Cadence's board, stated that Van den hove's "technical expertise, trusted ecosystem relationships and broad industry perspective" would bring valuable insights as the company continues advancing its strategy.
Cadence describes itself as a market leader in AI and digital twins, providing computational software for engineering design from silicon to systems. The company serves clients in markets including hyperscale computing, mobile communications, automotive, aerospace, and industrial sectors. With exceptional gross profit margins of 85.5% and strong liquidity, Cadence maintains a healthy financial position despite trading at a premium valuation relative to earnings growth.InvestingPro analysis indicates the stock is currently slightly overvalued based on Fair Value estimates. Investors seeking deeper insights can access Cadence's comprehensive Pro Research Report, one of 1,400+ available for top US equities, showing what really matters through intuitive visuals and expert analysis.
In other recent news, Cadence Design Systems has completed its acquisition of Secure-IC, enhancing its capabilities in embedded security solutions across various sectors. The company reported strong third-quarter 2025 earnings, with an earnings per share of $1.93, surpassing the forecast of $1.79, and revenue hitting $1.34 billion, slightly above expectations. Following these results, KeyBanc Capital Markets maintained its Overweight rating on Cadence Design, citing a record backlog and setting a price target of $405. Rosenblatt also raised its price target for the company to $335, maintaining a Neutral rating, while Wolfe Research increased its target to $385, keeping an Outperform rating. Wolfe Research highlighted the company's broad-based performance across geographies and product segments, particularly noting the success of the Intellectual Property and Hardware segments. Cadence's backlog has expanded to $7 billion, indicating strong future demand. These developments underscore Cadence's solid position in the market as it continues to exceed financial expectations.
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