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>Lattice Semiconductor reported second quarter 2026 revenue of $201 million, marking an 18% sequential increase and a 62% rise year-over-year.</li><li>The surge was broad-based across their end markets, with the Compute and Communications segment achieving record revenue, growing 18% sequentially and 83% year-over-year, primarily driven by rising demand for data center AI applications.</li><li>Factors supporting this growth include increased capital expenditures, higher AI content per server, elevated FPGA attach rates, stricter security requirements, and a shift toward more complex disaggregated architectures.</li></ul>

Lattice Semiconductor reported second quarter 2026 revenue of $201 million, marking an 18% sequential increase and a 62% rise year-over-year.The surge was broad-based across their end markets, with the Compute and Communications segment achieving record revenue, growing 18% sequentially and 83% year-over-year, primarily driven by rising demand for data center AI applications.Factors supporting this growth include increased capital expenditures, higher AI content per server, elevated FPGA attach rates, stricter security requirements, and a shift toward more complex disaggregated architectures.

Lattice Semiconductor’s AMI Acquisition Brings 75%+ Gross Margins To The AI Infrastructure Push!

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

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  <li>
<a href="https://smartkarma.com/entities/lattice-semiconductor-corp">Lattice Semiconductor</a> is a specialized leader in the low-power, small-form-factor Field-Programmable Gate Array (FPGA) market, differentiating itself from larger competitors by focusing on power efficiency and ease of use for customers.</li>
  <li>The company is strategically targeting high-growth end markets, including AI infrastructure, edge computing, automotive, and industrial automation. The recent acquisition of AMI is intended to bolster its position in the AI server and data center market.</li>
  <li>While the company's long-term strategy and market positioning are strong, it faces significant near-term challenges, including integrating the AMI acquisition, navigating a cyclical downturn in revenue and profitability, and justifying a premium valuation relative to its peers.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
Lattice Semiconductor is a specialized leader in the low-power, small-form-factor Field-Programmable Gate Array (FPGA) market, differentiating itself from larger competitors by focusing on power efficiency and ease of use for customers.
  The company is strategically targeting high-growth end markets, including AI infrastructure, edge computing, automotive, and industrial automation. The recent acquisition of AMI is intended to bolster its position in the AI server and data center market.
  While the company's long-term strategy and market positioning are strong, it faces significant near-term challenges, including integrating the AMI acquisition, navigating a cyclical downturn in revenue and profitability, and justifying a premium valuation relative to its peers.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Lattice Semiconductor (LSCC US) - Aug 2026

<ul><li>Lattice Semiconductor completed its $1.65 billion acquisition of AMI with an apparently attractive message for investors: the transaction should improve gross margins, free cash flow and adjusted earnings per share while helping the company exceed a $1 billion annual revenue run rate by the end of 2026.</li><li>Yet Lattice shares fell more than 6.5% after the deal closed, creating a sharp contrast between management’s optimism and the market’s reaction.</li><li>The decline does not necessarily mean investors consider AMI a poor business or the strategic rationale flawed.</li></ul>

Lattice Semiconductor completed its $1.65 billion acquisition of AMI with an apparently attractive message for investors: the transaction should improve gross margins, free cash flow and adjusted earnings per share while helping the company exceed a $1 billion annual revenue run rate by the end of 2026.Yet Lattice shares fell more than 6.5% after the deal closed, creating a sharp contrast between management’s optimism and the market’s reaction.The decline does not necessarily mean investors consider AMI a poor business or the strategic rationale flawed.

Lattice’s AI Deal Promised Growth—Then Shares Crashed!

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><a href="https://www.smartkarma.com/entities/entegris-inc" target="_blank" data-smartkarma-citation="entities:12493" rel="noopener">Entegris Inc (ENTG US)</a> - Memory spending is happening next year, but MSI remains weak.</li><li><a href="https://www.smartkarma.com/entities/astera-labs-inc" target="_blank" data-smartkarma-citation="entities:40921" rel="noopener">Astera Labs (ALAB US)</a> - This is now the second way to play a levered Trainium ramp, as they have extensive content with <a href="https://www.smartkarma.com/entities/amazon-com-inc" target="_blank" data-smartkarma-citation="entities:409" rel="noopener">Amazon.com Inc (AMZN US)</a>.</li><li><a href="https://www.smartkarma.com/entities/lattice-semiconductor-corp" target="_blank" data-smartkarma-citation="entities:7855" rel="noopener">Lattice Semiconductor (LSCC US)</a> - Standard kitchen sink; I like the stock long-term.</li></ul>

Entegris Inc (ENTG US) - Memory spending is happening next year, but MSI remains weak.Astera Labs (ALAB US) - This is now the second way to play a levered Trainium ramp, as they have extensive content with Amazon.com Inc (AMZN US).Lattice Semiconductor (LSCC US) - Standard kitchen sink; I like the stock long-term.

Earnings: ENTG, ALAB, LSCC, SITM, QCOM, MCHP, WOLF, ARM, ACLS, AAOI, ANET, LITE, COHR

<ul><li>It’s an exciting time when your favorite semiconductor CEO comes out of “retirement” to return as a CEO.</li><li>Mine is personally Ford Tamer, who drove Inphi to ship the best DSP in the market against much larger competitors at a much faster pace.</li><li>In my opinion, Inphi was almost a miracle story in semiconductors. It was a literal David versus Goliath, and the man who led the team was Ford.</li></ul>

It’s an exciting time when your favorite semiconductor CEO comes out of “retirement” to return as a CEO.Mine is personally Ford Tamer, who drove Inphi to ship the best DSP in the market against much larger competitors at a much faster pace.In my opinion, Inphi was almost a miracle story in semiconductors. It was a literal David versus Goliath, and the man who led the team was Ford.

United States

Lattice Semiconductor Corporation designs, develops, and markets high speed programmable logic devices.  The Company's products provide electronic systems customers with quickly designed, easily configured components.  Lattice markets its products to original equipment manufacturers of communication, computing, industrial, and military systems.

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Lattice Semiconductor (LSCC US)

Lattice Semiconductor’s AMI Acquisition Brings 75%+ Gross Margins To The AI Infrastructure Push!

Lattice Semiconductor reported second quarter 2026 revenue of $201 million, marking an 18% sequential increase and a 62% rise year-over-year. The...

Baptista Research

Primer: Lattice Semiconductor (LSCC US) - Aug 2026

Lattice Semiconductor is a specialized leader in the low-power, small-form-factor Field-Programmable Gate Array (FPGA) market, differentiating...

αSK Primers

Lattice’s AI Deal Promised Growth—Then Shares Crashed!

Lattice Semiconductor completed its $1.65 billion acquisition of AMI with an apparently attractive message for investors: the transaction should...

Baptista Research

Earnings: ENTG, ALAB, LSCC, SITM, QCOM, MCHP, WOLF, ARM, ACLS, AAOI, ANET, LITE, COHR

What a week (I’m a bit late on this)! I wanted to give a quick overview of all the companies that reported last week. Lattice Semiconductor -...

Fabricated Knowledge

Lattice Semiconductor

It’s an exciting time when your favorite semiconductor CEO comes out of “retirement” to return as a CEO. Mine is personally Ford Tamer, who drove...

Fabricated Knowledge

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