Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

In today’s report we reiterate our bullish U.S. investment thesis, recap significant technical levels across indexes, and highlight attractive Groups and stocks within Health Care and Technology: Biotech, Mid-Cap, Biotech, Small-Cap, Semiconductors, Large-Cap, and Semiconductors, Mid-Cap..

In today’s report we reiterate our bullish U.S. investment thesis, recap significant technical levels across indexes, and highlight attractive Groups and stocks within Health Care and Technology: Biotech, Mid-Cap, Biotech, Small-Cap, Semiconductors, Large-Cap, and Semiconductors, Mid-Cap..

MSCI ACWI, STOXX 600 Breaking Out, Adding Fuel for Further U.S. Equity Market Rally

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

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing)

On August 26, 2019, GLOBALFOUNDRIES (GF), filed multiple lawsuits in the U.S. and Germany alleging that semiconductor manufacturing technologies used by <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-manufacturing-company-tsmc" target="_blank" data-smartkarma-citation="entities:11230:1" rel="noopener">Taiwan Semiconductor Manufacturing Company (TSMC)</a> infringe 16 GF patents. Predictably, TSMC responded the following day, alleging that the lawsuit is baseless and vowing to vigorously defend itself.  It's not just TSMC that GF is seeking to pursue for damages, but also the bulk of its flagship customers, the likes of Apple, Qualcomm and NVIDIA. The potential ramifications of GF's legal action are huge, for TSMC, its customers and indeed, the fabless model itself.Do GF's lawsuits have merit and are they likely to succeed? We think not. Here's why.

On August 26, 2019, GLOBALFOUNDRIES (GF), filed multiple lawsuits in the U.S. and Germany alleging that semiconductor manufacturing technologies used by Taiwan Semiconductor Manufacturing Company (TSMC) infringe 16 GF patents. Predictably, TSMC responded the following day, alleging that the lawsuit is baseless and vowing to vigorously defend itself.  It's not just TSMC that GF is seeking to pursue for damages, but also the bulk of its flagship customers, the likes of Apple, Qualcomm and NVIDIA. The potential ramifications of GF's legal action are huge, for TSMC, its customers and indeed, the fabless model itself.Do GF's lawsuits have merit and are they likely to succeed? We think not. Here's why. 

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Thematic (Sector/Industry)

The whitelist lifting means that Japan is now able to export restrict about 1,200 materials/products to Korea. It is expected that Japan will unveil more details of the next measures on Aug 8. Until then, it's only a guessing game. Even after Aug 8, it is very possible that we won't have any clearer visual on the situation. Probably, this is what the Japanese government wants: creating uncertainties one after another. Nonetheless, we are not short of local speculations about which specific products or materials to be export restricted in the next round. Here are the 4 strong candidates being speculated by local media and industry experts.<ol>
<li>Silicon wafer</li>
<li>Shadow mask (FMM: fine metal mask)</li>
<li>Image sensor</li>
<li>Li-ion battery separator</li>
</ol>

The whitelist lifting means that Japan is now able to export restrict about 1,200 materials/products to Korea. It is expected that Japan will unveil more details of the next measures on Aug 8. Until then, it's only a guessing game. Even after Aug 8, it is very possible that we won't have any clearer visual on the situation. Probably, this is what the Japanese government wants: creating uncertainties one after another. Nonetheless, we are not short of local speculations about which specific products or materials to be export restricted in the next round. Here are the 4 strong candidates being speculated by local media and industry experts.
Silicon wafer
Shadow mask (FMM: fine metal mask)
Image sensor
Li-ion battery separator


Japan's Second Round of Export Restrictions Against Korea: 4 Candidate Products

Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

The semiconductor industry is undergoing a collapse, as it does every few years.  Investors who understand why this occurs, and how it hits certain sub-sectors more than others, will have an advantage when making investments in the industry.  This Insight helps readers to understand commodity and non-commodity chips and how to tell one from another.  It first defines commodities, then explains which semiconductors are and are not commodities, listing makers of each type, followed by explanations of the impact of commodity cycles upon the semiconductor market as a whole.  It closes with advice on understanding the market and provides the likely duration of the current cycle.

The semiconductor industry is undergoing a collapse, as it does every few years.  Investors who understand why this occurs, and how it hits certain sub-sectors more than others, will have an advantage when making investments in the industry.  This Insight helps readers to understand commodity and non-commodity chips and how to tell one from another.  It first defines commodities, then explains which semiconductors are and are not commodities, listing makers of each type, followed by explanations of the impact of commodity cycles upon the semiconductor market as a whole.  It closes with advice on understanding the market and provides the likely duration of the current cycle.

Why Commodities Drive the Semiconductor Cycle

Relative strength for the PHLX Semiconductor index began a bottoming process in November of 2018. In mid-December. Since then we have expanded our recommendations substantially and upgraded Technology to overweight in late-January. Despite four months of outperformance, we believe the move for semis is just beginning. In today’s report we highlight our favorite technical setups, including: AMAT, MRVL, AMBA, STM, ON, MU, NVDA, SWKS, MCHP, TXN, AVGO, LRCX, NXPI, ASML, TER, MKSI, ICHR, ACLS, and TSEM.

Relative strength for the PHLX Semiconductor index began a bottoming process in November of 2018. In mid-December. Since then we have expanded our recommendations substantially and upgraded Technology to overweight in late-January. Despite four months of outperformance, we believe the move for semis is just beginning. In today’s report we highlight our favorite technical setups, including: AMAT, MRVL, AMBA, STM, ON, MU, NVDA, SWKS, MCHP, TXN, AVGO, LRCX, NXPI, ASML, TER, MKSI, ICHR, ACLS, and TSEM.

Semiconductors Are Breaking Out -- Add Exposure/Overweight

United States

ON Semiconductor Corporation supplies analog, standard logic, and discrete semiconductors for data and power management. The Company's products include integrated circuits, and analog ICs. ON also offers discrete semiconductors in a variety of surface mount and standard packages.

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On Semiconductor (ON US)

MSCI ACWI, STOXX 600 Breaking Out, Adding Fuel for Further U.S. Equity Market Rally

In today’s report we reiterate our bullish U.S. investment thesis, recap significant technical levels across indexes, and highlight attractive...

Vermilion Research

GLOBALFOUNDRIES Sues TSMC. Seriously?

On August 26, 2019, GLOBALFOUNDRIES (GF), filed multiple lawsuits in the U.S. and Germany alleging that semiconductor manufacturing technologies...

William Keating

Japan's Second Round of Export Restrictions Against Korea: 4 Candidate Products

The whitelist lifting means that Japan is now able to export restrict about 1,200 materials/products to Korea. It is expected that Japan will...

Sanghyun Park

Why Commodities Drive the Semiconductor Cycle

The semiconductor industry is undergoing a collapse, as it does every few years. Investors who understand why this occurs, and how it hits certain...

Jim Handy

Semiconductors Are Breaking Out -- Add Exposure/Overweight

Relative strength for the PHLX Semiconductor index began a bottoming process in November of 2018. In mid-December. Since then we have expanded our...

Vermilion Research

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