Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

Equity Bottom-Up

<ul>
<li>NVIDIA &amp; Synopsys announced a new strategic partnership on Dec 1, mostly covering topics they were already strategically partnering on, with one exception, Cloud-Ready Solutions</li>
<li>The partnership sees NVIDIA purchase $2 billion worth of Synopsys stock in a private placement. Other, recent, similar strategic partnerships e.g. Siemens &amp; GM, involved no such investment</li>
<li>They plan to start enabling cloud access for GPU-accelerated engineering solutions. Could this be where that $2 billion finds a home? Is this a new Neocloud in disguise? Let's see</li>
</ul>


NVIDIA &amp; Synopsys announced a new strategic partnership on Dec 1, mostly covering topics they were already strategically partnering on, with one exception, Cloud-Ready Solutions
The partnership sees NVIDIA purchase $2 billion worth of Synopsys stock in a private placement. Other, recent, similar strategic partnerships e.g. Siemens &amp; GM, involved no such investment
They plan to start enabling cloud access for GPU-accelerated engineering solutions. Could this be where that $2 billion finds a home? Is this a new Neocloud in disguise? Let's see


NVIDIA Invests $2 Billion In Synopsys. But Why?

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.

<ul><li>Synopsys Inc. recently reported its third-quarter earnings for fiscal year 2025, amid a challenging global market environment, marked by the completion of its acquisition of Ansys.</li><li>The quarter highlighted both opportunities and challenges for the company as it navigates its strategic transition.</li><li>The acquisition of Ansys is a defining moment for Synopsys, significantly broadening its product portfolio and customer base.</li></ul>

Synopsys Inc. recently reported its third-quarter earnings for fiscal year 2025, amid a challenging global market environment, marked by the completion of its acquisition of Ansys.The quarter highlighted both opportunities and challenges for the company as it navigates its strategic transition.The acquisition of Ansys is a defining moment for Synopsys, significantly broadening its product portfolio and customer base.

Synopsys’ Global Expansion – Will Ansys Synergies Open New Market Frontiers?

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>There are no constituent changes for the <a href="https://www.smartkarma.com/entities/vaneck-vectors-semiconductor" target="_blank" data-smartkarma-citation="entities:32807:1" rel="noopener">VanEck Vectors Semiconductor (SMH US)</a> ETF in December but there are a lot of float and capping changes.</li>
<li>Estimated one-way turnover is 7.5% resulting in a round-trip trade of US$5.5bn. There are 3 stocks with over half a yard to trade.</li>
<li>The largest flows will be in <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA</a>, <a href="https://www.smartkarma.com/entities/micron-technology-inc" target="_blank" data-smartkarma-citation="entities:13382:1" rel="noopener">Micron Technology</a>, <a href="https://www.smartkarma.com/entities/applied-materials-inc" target="_blank" data-smartkarma-citation="entities:283:1" rel="noopener">Applied Materials</a>, <a href="https://www.smartkarma.com/entities/lam-research-corp" target="_blank" data-smartkarma-citation="entities:1116:1" rel="noopener">Lam Research</a>, <a href="https://www.smartkarma.com/entities/intel-corp" target="_blank" data-smartkarma-citation="entities:16764:1" rel="noopener">Intel Corp</a>, <a href="https://www.smartkarma.com/entities/texas-instruments-inc" target="_blank" data-smartkarma-citation="entities:18804:1" rel="noopener">Texas Instruments</a> and <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-manufacturing-adr" target="_blank" data-smartkarma-citation="entities:8587:1" rel="noopener">TSMC (Taiwan Semiconductor Manufacturing) - ADR</a>. </li>
</ul>


There are no constituent changes for the VanEck Vectors Semiconductor (SMH US) ETF in December but there are a lot of float and capping changes.
Estimated one-way turnover is 7.5% resulting in a round-trip trade of US$5.5bn. There are 3 stocks with over half a yard to trade.
The largest flows will be in NVIDIA, Micron Technology, Applied Materials, Lam Research, Intel Corp, Texas Instruments and TSMC (Taiwan Semiconductor Manufacturing) - ADR. 


MV US Listed Semiconductor 25 Index Rebalance: Capping Leads to US$5.5bn Trade

<ul><li>Synopsys Inc. reported a robust second quarter for fiscal year 2025, showcasing substantial strength in revenue growth and operational execution.</li><li>The company achieved a 10% year-over-year revenue increase, reaching $1.6 billion, surpassing the midpoint of its forecast.</li><li>Non-GAAP earnings per share (EPS) also exceeded expectations, underlining the efficacy of Synopsys’ business model amid challenging market conditions.</li></ul>

Synopsys Inc. reported a robust second quarter for fiscal year 2025, showcasing substantial strength in revenue growth and operational execution.The company achieved a 10% year-over-year revenue increase, reaching $1.6 billion, surpassing the midpoint of its forecast.Non-GAAP earnings per share (EPS) also exceeded expectations, underlining the efficacy of Synopsys’ business model amid challenging market conditions.

How Is Synopsys Thriving Globally While China Sales Decline—What’s the Real Strategy?

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

United States

Synopsys, Inc. supplies electronic design automation solutions to the global electronics market.  The Company provides design technologies to creators of advanced integrated circuits, electronic systems, and systems on a chip. Synopsys also provides consulting services and support to its customers to streamline the overall design process and accelerate time to market.

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Synopsys Inc (SNPS US)

NVIDIA Invests $2 Billion In Synopsys. But Why?

They plan to start enabling cloud access for GPU-accelerated engineering solutions. Could this be where that $2 billion finds a home? Is this a new...

William Keating

Synopsys’ Global Expansion – Will Ansys Synergies Open New Market Frontiers?

Synopsys Inc. recently reported its third-quarter earnings for fiscal year 2025, amid a challenging global market environment, marked by the...

Baptista Research

MV US Listed Semiconductor 25 Index Rebalance: Capping Leads to US$5.5bn Trade

There are no constituent changes for the index in Dec but there are float and capping changes. Estimated one-way turnover is 7.5% resulting in a...

Brian Freitas

How Is Synopsys Thriving Globally While China Sales Decline—What’s the Real Strategy?

Synopsys Inc. reported a robust second quarter for fiscal year 2025, showcasing substantial strength in revenue growth and operational...

Baptista Research

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

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