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>Synopsys, a leader in Electronics Design Automation (EDA) and semiconductor IP, reported strong fiscal Q1 2026 results, reflecting a mix of strategic progress and operating challenges.</li><li>Revenue reached the high end of guidance at $2.41 billion, buoyed by a strong performance from the Ansys segment, while non-GAAP earnings per share exceeded expectations, indicating effective financial discipline.</li><li>Ansys, an acquisition made in 2025, contributed significantly with $886 million in revenue, reflecting strong demand for simulation and analysis solutions.</li></ul>

Synopsys, a leader in Electronics Design Automation (EDA) and semiconductor IP, reported strong fiscal Q1 2026 results, reflecting a mix of strategic progress and operating challenges.Revenue reached the high end of guidance at $2.41 billion, buoyed by a strong performance from the Ansys segment, while non-GAAP earnings per share exceeded expectations, indicating effective financial discipline.Ansys, an acquisition made in 2025, contributed significantly with $886 million in revenue, reflecting strong demand for simulation and analysis solutions.

Synopsys: AI Silicon Complexity Is Exploding—Why Its Verification & Simulation Tools Are Becoming Essential!

<ul><li>Synopsys reported results that reflected a year of structural change, with the integration of Ansys reshaping both the scale and scope of the business.</li><li>Revenue reached $7.05 billion for the fiscal year, supported by $757 million of contribution from Ansys, while backlog expanded to $11.4 billion, indicating solid multi-year demand visibility across design automation, simulation, and related software.</li><li>Fourth-quarter revenue and non-GAAP earnings per share came in within or slightly ahead of guidance, supported by disciplined expense control and strong execution in hardware-assisted verification and advanced-node design tools.</li></ul>

Synopsys reported results that reflected a year of structural change, with the integration of Ansys reshaping both the scale and scope of the business.Revenue reached $7.05 billion for the fiscal year, supported by $757 million of contribution from Ansys, while backlog expanded to $11.4 billion, indicating solid multi-year demand visibility across design automation, simulation, and related software.Fourth-quarter revenue and non-GAAP earnings per share came in within or slightly ahead of guidance, supported by disciplined expense control and strong execution in hardware-assisted verification and advanced-node design tools.

Synopsys: How AI-Driven Design Complexity Is Quietly Reshaping Its Revenue Engine!

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

<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?

Podcast On the Business of Semiconductors, The Circuit

The Circuit

Podcast On the Business of Semiconductors

A Podcast On the Business of Semiconductors. With Jay Goldberg and Ben Bajarin

Thematic (Sector/Industry)

<ul><li>Apple launched new AirPods, new watch, and new iPhone lineup with expected upgrades</li><li>New neural cores in the GPU for AI workloads and vapor chamber in the Pro for higher sustained throughput</li><li>Apple's fundamental architecture change to bring neural accelerators to the GPU for on-device processing, hinting at future developments in chip design and performance.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Apple launched new AirPods, new watch, and new iPhone lineup with expected upgradesNew neural cores in the GPU for AI workloads and vapor chamber in the Pro for higher sustained throughputApple's fundamental architecture change to bring neural accelerators to the GPU for on-device processing, hinting at future developments in chip design and performance.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

EP 134: Apple iPhones and Tensor Cores, Synopsis Earnings, Hock's Comments at Goldman

<ul>
<li>CDNS had a record $8.1 billion backlog exiting Q2, with a Current Remaining Performance Obligation coverage ratio of ~58%, providing high visibility into revenue over the next 12 months.</li>
<li>CDNS launched an agentic AI flow (including ChipStack, RapidFire, Veristack, InnoStack, and AuraStack), which bridges the engineering bottleneck by automating complex tasks like RTL code generation and test bench creation.</li>
<li>Due to a projected 30-40x increase in design workload over the next 5–6 years, customers indicate willingness to spend &gt;50% of a human designer’s cost on automation, tokens, and tools</li>
</ul>


CDNS had a record $8.1 billion backlog exiting Q2, with a Current Remaining Performance Obligation coverage ratio of ~58%, providing high visibility into revenue over the next 12 months.
CDNS launched an agentic AI flow (including ChipStack, RapidFire, Veristack, InnoStack, and AuraStack), which bridges the engineering bottleneck by automating complex tasks like RTL code generation and test bench creation.
Due to a projected 30-40x increase in design workload over the next 5–6 years, customers indicate willingness to spend &gt;50% of a human designer’s cost on automation, tokens, and tools


CDNS @ Deutsche Bank 20th Annual Technology Conference. Key Takeaways & Full Transcript

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)

Synopsys: AI Silicon Complexity Is Exploding—Why Its Verification & Simulation Tools Are Becoming Essential!

Synopsys, a leader in Electronics Design Automation (EDA) and semiconductor IP, reported strong fiscal Q1 2026 results, reflecting a mix of...

Baptista Research

Synopsys: How AI-Driven Design Complexity Is Quietly Reshaping Its Revenue Engine!

Synopsys reported results that reflected a year of structural change, with the integration of Ansys reshaping both the scale and scope of the...

Baptista Research

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

EP 134: Apple iPhones and Tensor Cores, Synopsis Earnings, Hock's Comments at Goldman

Apple's recent product launches feature new AirPods, a watch, and an iPhone lineup with advanced features, including neural cores added to the GPU...

The Circuit

CDNS @ Deutsche Bank 20th Annual Technology Conference. Key Takeaways & Full Transcript

Due to a projected 30-40x increase in design workload over the next 5–6 years, customers indicate willingness to spend >50% of a human designer’s...

William Keating

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