Feed / Theme
Confirmed

Software Verification Tools

2 names are moving together; 50% are participating in the current session.

2 observed Confirmed episodes

Co-movement

Observed member paths adjusted against SPY. Shading marks the latest observation window.

Members

TICKERCompanySectorTodayObserved activity
SNPSSynopsys, Inc.Technology-2.6%2/2 observed active sessions
CDNSCadence Design Systems, Inc.Technology-1.7%2/2 observed active sessions

Why we believe this

Cohort

2 names

Participation

50% this session

Observed history

16 daily builds

Filing coverage

2/2 members

demand / volume affecting revenue

“The increase in upfront products revenue for the three months ended January 31, 2026 compared to the same period in fiscal 2025 was primarily due to Ansys' contribution of $383.0 million in upfront products revenue and an increase in the sale of hardware products driven by higher demand from customers, offset by a decrease in license revenue due to timing of customer requirements for IP products and the Optical Solutions Group divestiture, for the three months ended January 31, 2026 .”

SNPS 10-Q

credit / rates affecting interest expense

“Interest Expense 41 April 30, 2026 2025 $ Change % Change (dollars in millions) Three months ended $ (133.4) $ (94.3) $ (39.1) 41 % Percentage of total revenue (6) % (6) % Six months ended $ (296.1) $ (105.5) $ (190.6) 181 % Percentage of total revenue (6) % (3) % The increase in interest expense for the three months ended April 30, 2026 as compared to the same period in fiscal 2025 was primarily due to interest on the Senior Notes issued in the second quarter of fiscal 2025 in connection with the Ansys Merger.”

SNPS 10-Q

product pipeline / R&D affecting expense

“The increase in research and development expenses for the six months ended April 30, 2026 compared to the same period in fiscal 2025 was primarily due to increases of $243.2 million in employee-related costs due to headcount increases from the Ansys Merger, $74.3 million in IT and facility costs and $15.8 million in the change in the fair value of our executive deferred compensation plan assets, partially offset by a decrease in employee-related costs due to headcount decreases as a result of the 2026 Plan.”

SNPS 10-Q

This identity theme becomes less useful if activity narrows to one or two names instead of remaining broad across the cohort.

Connected, outside the group

GSIT

CDNScustomer · Not moving with the group now

Filing receipt · GSIT / CDNS

“We maintain long-term relationships with leading original equipment manufacturer (“OEM ”) customers, including KYEC, Cadence Design Systems, and Nokia.”

CDNS · customer
SVCO

CDNSsupplier · Not moving with the group now

Filing receipt · SVCO / CDNS

“Over the past several years, we have completed several such acquisitions, including our March 2025 acquisition of a suite of optical proximity correction tools from Cade…”

CDNS · supplier
NVDA

SNPScustomer · Not moving with the group now

Filing receipt · NVDA / SNPS

“Cash Used in Financing Activities The increase in net cash used in financing activities for the three months ended January 31, 2026 compared to the same period in fiscal…”

SNPS · customer
AIP

CDNStext peer · Not moving with the group now

No filing excerpt is available for this relationship.

KEYS

SNPSpartner · Moving with the group now · 115 min observed

Filing receipt · KEYS / SNPS

“Synopsys' Optical Solutions Group was sold to Keysight Technologies, Inc.”

SNPS · partner

History

2026-07-091 observed active session · 100% of active names held across the episode
2026-06-261 observed active session · 100% of active names held across the episode