Last Week Today, September 18, 2017

Submitted by Gabe Moretti on Sun, 09/17/2017 - 19:53

Gabe Moretti

Synopsys Initiates $100 Million Accelerated Share Repurchase Agreement

Synopsys, Inc. (Nasdaq: SNPS) today announced that it has entered into an accelerated share repurchase agreement (ASR) with HSBC, to repurchase an aggregate of $100 million of Synopsys stock. The agreement is in addition to Synopsys' $300 million in stock repurchases thus far in fiscal year 2017.

Under the terms of the ASR, Synopsys will receive an aggregate initial share delivery of approximately 1.01 million shares, with the remainder, if any, to be settled on or before November 20, 2017, upon completion of the repurchase. The specific number of shares that Synopsys ultimately repurchases under the ASR will be based on Synopsys' volume-weighted average share price during the repurchase period, less a discount.

This announcement, when paired with that of the previous week announcing a plan to repatriate approximately $775 to $850 million of cash currently held offshore during the fourth quarter of fiscal year 2017. The repatriation is planned in anticipation of potential corporate tax reform, and the company expects to be able to realize the benefit of its existing R&D tax credits to reduce the tax payment on the repatriation. Synopsys expects to record a one-time tax expense, excluded from non-GAAP results, of approximately $160 to $180 million in the fourth quarter of fiscal year 2017. The related tax payment (after credits) of approximately $40 to $50 million is expected to be paid in the first half of fiscal year 2018.

Synopsys plans to use the repatriated cash consistent with its current capital allocation strategy: a combination of funding its operations, stock repurchases, acquisitions, and debt repayment.


Load Modulation in Microwave Circuit Design Lecture by Dr. Steve Cripps is Now Available to View

Presented by National Instruments a webinar recording of the European Microwave Week 2016 MicroApps keynote lecture, Load Modulation in Microwave Circuit Design: Past Present and Future Applications, by Dr. Steve Cripps, is now available to view on The talk introduces microwave circuit designers focused on power amplifier performance to an alternative matching network methodology that utilizes active circuitry in place of a conventional impedance transformation based on passive reactive elements. While the active alternative is not frequently used, more recent published work of Dr. Cripps and his team demonstrates that active load modulation can be used in a much wider range of microwave circuit applications. The presentation concludes by summarizing advances in this field and illustrates specific cases where active load modulation has been used to implement reconfigurable wideband amplifiers.


TowerJazz Announces Release of its Advanced 5V 65nm CMOS and Low Voltage Power Process Addressing LED Lighting, Analog Switch, DC/DC Converter and Load Switch Applications


TowerJazz, the global specialty foundry leader, today announced the release of its advanced 5V 65nm power process providing customers with multiple advantages over 0.18um 5V technologies. The advanced 5V 65nm technology increases TowerJazz’s footprint in the 5V power market by offering enhanced Rdson efficiency with an attractive die cost advantage over 0.18um 5V processes. This technology is based on TowerJazz’s automotive 300mm 65nm process platform manufactured in its Uozu, Japan facility and supports both best in class quality and manufacturing cycle time.


The advanced 5V 65nm contains a rich portfolio of analog features and many different metal combinations to optimize cost/performance for any application. The first products, for several strategic customers, were already prototyped with outstanding performance. The technology is now fully released and supports Multi-layer Masking (MLM) and an MPW option to reduce engineering costs. The first MPW is targeted for November 2017.


TowerJazz’s leading 5V 65nm power technology offers high Rdson efficiency using tighter design rules for power devices, and a thick copper top metal for large current applications, enabling the 5V transistors using a 65nm design to achieve dense digital capabilities and a dense analog periphery, with a low number of manufacturing masks. The technology offers an average of 30% area reduction for a given 5V power transistor and typically a 35% die size reduction for a mixed-signal chip. An optimization effort to minimize cost and manufacturing layers needed to support 5V enables highly competitive solutions for many different markets such as automotive, industrial and consumer. The advanced 5V 65nm supports high current power applications such as PMIC, DC/DC converters, load switches and point of load ICs using single and dual 3.3um thick copper metal layers.


Flex Logix Wins TSMC Open Innovation Platform Partner of the Year Award 2017


Flex Logix Technologies, Inc., the leading supplier of embedded FPGA IP and software, today announced it has won the TSMC Open Innovation Platform's Partner of the Year Award 2017 in the category of New IP for its EFLXÒ embedded FPGA IP product..


"We are honored to win this prestigious award as it highlights the close alignment with TSMC that Flex Logix has achieved with its EFLX platform: EFLX embedded FPGA is available for TSMC 40nm, 28nm and 16nm process nodes with array sizes from 100 to >100K LUTs with options for DSP and any size/type of embedded RAM,” said Geoff Tate, CEO and co-founder of Flex Logix. “Flex Logix has worked closely with TSMC since the company was founded in 2014 and is proud to meet TSMC’s rigorous standards as an IP Alliance Member.”


Embedded FPGA is a new type of semiconductor IP enabling high-volume chip designers to incorporate reconfigurable logic to allow chips to be updated even in-system to adapt to new standards, new protocols, new algorithms and to customize chips for customers faster and more cost effectively than mask changes.


The award was presented during a ceremony at this year’s TSMC Open Innovation Platform Ecosystem Forum on September 13, 2017 in Santa Clara. Tate and Senior Vice President of Engineering Cheng Wang accepted the award on behalf of Flex Logix.