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Analyst
Kelsey Chia
Period: Reporting periods mapped to calendar 2025 Q1 – 2026 Q3 (7 quarters).
- Questions
- 17on tracked calls
- Challenge rate
- 12%2 of 17 questions
- Companies
- 3questioned at least once
- Reporting periods
- 7with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 17 of 17 questions from 3 companies
MPWRMonolithic Power Systems10 questions · 5 reporting periods · 1 of 10 challenging
Calendar 2026 Q2
could you help us think about gross margins and OpEx trajectory?
Show response
Robert Dean and Tony Balow both answered, conceding margin sits at the low end of the model while pointing to operating margin leverage at higher revenue.
I am wondering how much visibility do you have in the enterprise data end market?
Show response
Quantified visibility via book to bill but declined to put a number on 2027, saying the structural growth drivers remain sound.
Calendar 2025 Q4
Could you provide an update with regards to which end markets are currently above or below that corporate average
Show response
Bernie noted margins at low end of 55-60% range but backlog development may allow resumption of 10-20bps sequential improvement cadence during 2026.
Is there any market share gains assumption there, or is it just primarily due to this industry growth?
Show response
Bernie avoided decomposing growth into share vs market, noting MPS is engaged strategically with top 6-7 customers and has long-tail mid/small market exposure.
Calendar 2025 Q3
I was hoping if you could share more, especially with regards to material side of things like gallium nitride, silicon carbide
Show response
Michael confirmed MPS develops own silicon carbide with GaN evaluation at early stage. Highlighted recent silicon MOSFET developments that could compete with SiC cost-effectively.
how do you guys feel today versus a quarter ago. Especially, you guys have come a long way since the start of the year
Show response
Michael declined the quarter-to-quarter comparison. Bernie noted MPS is broadly indexed across all opportunity types, merchant, large ASIC, medium and small.
Calendar 2025 Q2
does it mean that MPS sort of back to the historical kind of diversified growth where there's no one customer that's more than 5%
Show response
Bernie confirmed MPS expects to return to normal diversification with no customer above mid-to-high single-digit percentage as the ASIC portfolio builds.
that would imply sort of like a close to a 20% growth rate perhaps for next year. Is that a right assumption?
Show response
Bernie endorsed ~20% growth for 2026 within plus/minus a couple percentage points, with enterprise data expected to be a key contributor alongside broad-based growth.
Calendar 2025 Q1
is there room for gross margin expansion going forward in the second half?
Show response
Bernie confirmed room for expansion while Michael clarified it would come from new higher-margin products rather than price increases. Next year more positive than current year.
could you provide more color on those applications? And also, when can we expect
Show response
Bernie described communications growth as balanced across network telecom, router/wireless modems, and optical fiber optics rather than concentrated in any one area.
SNPSSynopsys5 questions · 3 reporting periods · 1 of 5 challenging
Calendar 2026 Q3
is it unreasonable to think that IP business could achieve a much stronger growth than the mid-teens
Show response
Ghazi kept the mid-teens long-term IP growth guide despite strong chip-start and hyperscaler demand, deferring any potential upgrade to the September Investor Day.
Calendar 2026 Q1
can we use the Rule of 50 to think about the operating margins at a normalized level
Show response
CFO said IP margins compressed in FY26 due to muted revenue while maintaining investment. Will improve with mid-teens growth restoration but always below corporate average. CEO expects royalty deals to close in FY26.
Is there a risk that Synopsys may miss customer design starts or customers may shift away from using the IP that Synopsys has developed
Show response
CEO emphasized alignment with customer schedules. Portfolio breadth (PCIe, 224G, HBM, LPDDR, UCIe) is sold as package. Confidence in second-half delivery based on roadmap progress.
Calendar 2025 Q4
Is that the same reason for the lower growth rate this year as well? And are there any share shift dynamics happening over there
Show response
CEO acknowledged accelerating share loss in China to local EDA alternatives for restricted customers. Long-term double-digit EDA growth to come from joint ANSYS solutions and agentic AI workflow changes.
Synopsys, Inc. provides several IPs for a large foundry customer, including the in EMID advanced packaging technology
Show response
CEO explained IP monetization depends on foundry customer ramp. Assuming status quo for FY26 on that foundry. CFO confirmed IP margins pressured short-term but expected to improve with mid-teens growth restoration.
CDNSCadence Design Systems2 questions · 2 reporting periods · 0 of 2 challenging
Calendar 2026 Q2
is the engagement around 14A more likely an incremental driver to the sort of 20-25% growth
Show response
Devgan confirmed the agreement is fully incremental and multi-year, spanning multiple Intel business units beyond 14A.
Calendar 2026 Q1
is Cadence able to sort of charge for AgentStack or the increased base licenses as an incremental add-on
Show response
Devgan acknowledged customers will write some agents but said super agents require tight coupling to base tools that only Cadence can provide. Wall added subscription model anchors with consumption-based agentic add-ons.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| MPWR Monolithic Power Systems | 10 | 10%1 of 10 questions |
| SNPS Synopsys | 5 | 20%1 of 5 questions |
| CDNS Cadence Design Systems | 2 | —Rate withheld: fewer than 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2025 Q1 | 2 | 0%none of 2 questions | 1 |
| 2025 Q2 | 2 | 0%none of 2 questions | 1 |
| 2025 Q3 | 2 | 0%none of 2 questions | 1 |
| 2025 Q4 | 4 | 0%none of 4 questions | 2 |
| 2026 Q1 | 3 | 33%1 of 3 questions | 2 |
| 2026 Q2 | 3 | 33%1 of 3 questions | 2 |
| 2026 Q3 | 1 | 0%none of 1 question | 1 |
- 2025 Q12 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q22 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q32 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q44 questions · challenge rate 0% (none of 4 questions) · 2 companies
- 2026 Q13 questions · challenge rate 33% (1 of 3 questions) · 2 companies
- 2026 Q23 questions · challenge rate 33% (1 of 3 questions) · 2 companies
- 2026 Q31 question · challenge rate 0% (none of 1 question) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Competitive Dynamics9
- Margin5
- Cloud & AI5
- Revenue Growth4
- Guidance Reliability2
- Demand2
- Pricing2
- Cost Pressure1
- Regulation Policy1
- Innovation & R&D1