Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Cadence Design Systems, Inc. presented a robust performance in the first quarter of 2025, surpassing guidance across all major financial metrics.</li><li>The company's revenue grew by 23% year-over-year, with a notable 34% increase in non-GAAP EPS, prompting an upward revision of the annual financial forecast.</li><li>This performance was primarily driven by sustained demand for Cadence's innovative technologies and solutions.</li></ul>

Cadence Design Systems, Inc. presented a robust performance in the first quarter of 2025, surpassing guidance across all major financial metrics.The company's revenue grew by 23% year-over-year, with a notable 34% increase in non-GAAP EPS, prompting an upward revision of the annual financial forecast.This performance was primarily driven by sustained demand for Cadence's innovative technologies and solutions.

Cadence Design Systems Pushes AI Frontiers But What Challenges Lie Ahead?

<ul><li>Cadence Design Systems Inc. reported strong results for the fourth quarter of 2024, with notable achievements in revenue and operating margins.</li><li>The year concluded with a record backlog of $6.8 billion, reflecting heightened demand for Cadence’s AI-driven chip-to-systems portfolio and the expanded application of its AI solutions in semiconductor innovation.</li><li>The company observed exceptional momentum in its partnerships, including with NVIDIA, Qualcomm, and Marvell, highlighting increased adoption of its AI-powered products such as Cadence Cerebrus, SimAI, and Allegro X AI.</li></ul>

Cadence Design Systems Inc. reported strong results for the fourth quarter of 2024, with notable achievements in revenue and operating margins.The year concluded with a record backlog of $6.8 billion, reflecting heightened demand for Cadence’s AI-driven chip-to-systems portfolio and the expanded application of its AI solutions in semiconductor innovation.The company observed exceptional momentum in its partnerships, including with NVIDIA, Qualcomm, and Marvell, highlighting increased adoption of its AI-powered products such as Cadence Cerebrus, SimAI, and Allegro X AI.

Cadence Design Systems: AI-Powered EDA Tools Are Revolutionizing Chip Design!

Technology / Semiconductor / Internet Research

Nicolas Baratte

<ul>
<li>Nvidia H20 sales to China were barred last month. Nvidia first mentioned designing a new China-specific chip. Maybe not: it looks very difficult to work around the updated US limits</li>
<li>Semiconductor design software was barred last week. Synopsys suspended its guidance. My industry checks suggests that the ban applies to Xiaomi (ie the new smartphone chip) and to Lenovo. </li>
<li>Hanmi Semi stopped shipping TC Bonder to Chinese clients. This is critical to make HBM memory that goes into AI processors.</li>
</ul>


Nvidia H20 sales to China were barred last month. Nvidia first mentioned designing a new China-specific chip. Maybe not: it looks very difficult to work around the updated US limits
Semiconductor design software was barred last week. Synopsys suspended its guidance. My industry checks suggests that the ban applies to Xiaomi (ie the new smartphone chip) and to Lenovo. 
Hanmi Semi stopped shipping TC Bonder to Chinese clients. This is critical to make HBM memory that goes into AI processors.


US – China: Restrictions on Semiconductors Are Getting Worse

Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

<ul>
<li>Hello from Kyoto! If there was a single big story from VLSI this year, it had to be Backside Power Delivery (BSPDN). VLSI is one of the premier conferences for semiconductor design and has been held since the 1980s.</li>
<li>Today it’s one of the best places to present cutting-edge research in circuit technology.</li>
<li>The key revolutionary announcement at VLSI this year was BSPDN. Let’s discuss.</li>
</ul>


Hello from Kyoto! If there was a single big story from VLSI this year, it had to be Backside Power Delivery (BSPDN). VLSI is one of the premier conferences for semiconductor design and has been held since the 1980s.
Today it’s one of the best places to present cutting-edge research in circuit technology.
The key revolutionary announcement at VLSI this year was BSPDN. Let’s discuss.


VLSI Japan : It’s Better on the Backside

<ul><li>Cadence Design Systems, Inc. reported its financial results for the third quarter of 2024, recording impressive performance across various aspects of its business.</li><li>Total revenue for the quarter surpassed $1.2 billion, reflecting a 19% year-over-year growth.</li><li>This was accompanied by a non-GAAP operating margin of 44.8% and non-GAAP earnings per share (EPS) of $1.64.</li></ul>

Cadence Design Systems, Inc. reported its financial results for the third quarter of 2024, recording impressive performance across various aspects of its business.Total revenue for the quarter surpassed $1.2 billion, reflecting a 19% year-over-year growth.This was accompanied by a non-GAAP operating margin of 44.8% and non-GAAP earnings per share (EPS) of $1.64.

Cadence Design Systems: Its Efforts Towards Diversification & Growth in System Design & Analysis & Other Major Drivers

United States

Cadence Design Systems, Inc. provides software technology, design and consulting services and technology.  The Company licenses its electronic design automation software technology and provides a variety of professional services.  Cadence's design realization solutions are used to design and develop complex chips and electronic systems, including semiconductors.

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Cadence Design Sys (CDNS US)

Cadence Design Systems Pushes AI Frontiers But What Challenges Lie Ahead?

Cadence Design Systems, Inc. presented a robust performance in the first quarter of 2025, surpassing guidance across all major financial...

Baptista Research

Cadence Design Systems: AI-Powered EDA Tools Are Revolutionizing Chip Design!

Cadence Design Systems Inc. reported strong results for the fourth quarter of 2024, with notable achievements in revenue and operating...

Baptista Research

US – China: Restrictions on Semiconductors Are Getting Worse

Nvidia might not have a workaround for a new China-specific chip. EDA software ban also for consumer electronics Xiaomi, Lenovo. Hanmi Semi halted...

Nicolas Baratte

VLSI Japan : It’s Better on the Backside

If there was a single big story from VLSI this year, it had to be BSPDN. Intel announces its PowerVia technology, and scaling the backside is the...

Fabricated Knowledge

Cadence Design Systems: Its Efforts Towards Diversification & Growth in System Design & Analysis & Other Major Drivers

Cadence Design Systems, Inc. reported its financial results for the third quarter of 2024, recording impressive performance across various aspects...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Cadence Design Systems Pushes AI Frontiers But What Challenges Lie Ahead?

Cadence Design Systems, Inc. presented a robust performance in the first quarter of 2025, surpassing guidance across all major financial...

Baptista Research

Cadence Design Systems: AI-Powered EDA Tools Are Revolutionizing Chip Design!

Cadence Design Systems Inc. reported strong results for the fourth quarter of 2024, with notable achievements in revenue and operating...

Baptista Research

US – China: Restrictions on Semiconductors Are Getting Worse

​Nvidia might not have a workaround for a new China-specific chip. EDA software ban also for consumer electronics Xiaomi, Lenovo. Hanmi Semi halted...

Nicolas Baratte

VLSI Japan : It’s Better on the Backside

If there was a single big story from VLSI this year, it had to be BSPDN. Intel announces its PowerVia technology, and scaling the backside is the...

Fabricated Knowledge

Cadence Design Systems: Its Efforts Towards Diversification & Growth in System Design & Analysis & Other Major Drivers

Cadence Design Systems, Inc. reported its financial results for the third quarter of 2024, recording impressive performance across various aspects...

Baptista Research

Nvidia might not have a workaround for a new China-specific chip. EDA software ban also for consumer electronics Xiaomi, Lenovo. Hanmi Semi halted...