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>Despite a sluggish macro environment, Microchip Technology's quarterly earnings were solid due to resilient end markets and broad client base.</li><li>The company's net sales increased 2.5% sequentially and 16.6% annually to reach $2.29 billion.</li><li>From a product line standpoint, their mixed-signal microcontroller net sales hit another all-time high, increasing 0.8% sequentially and 22.5% annually in the quarter.</li></ul>

Despite a sluggish macro environment, Microchip Technology's quarterly earnings were solid due to resilient end markets and broad client base.The company's net sales increased 2.5% sequentially and 16.6% annually to reach $2.29 billion.From a product line standpoint, their mixed-signal microcontroller net sales hit another all-time high, increasing 0.8% sequentially and 22.5% annually in the quarter.

Microchip Technology: Navigating Through Market Sluggishness! - Major Drivers

<ul><li>Microchip Technology had a strong quarter.</li><li>Non-GAAP gross margin exceeded the company's forecast by 171 basis points to an all-time high of 68.3% in the most recent quarter.</li><li>Additionally, the non-GAAP operating margin, which increased by 292 basis points from the same quarter last year to an all-time high of 47.65%, came in just below the high end of their forecast.</li></ul>

Microchip Technology had a strong quarter.Non-GAAP gross margin exceeded the company's forecast by 171 basis points to an all-time high of 68.3% in the most recent quarter.Additionally, the non-GAAP operating margin, which increased by 292 basis points from the same quarter last year to an all-time high of 47.65%, came in just below the high end of their forecast.

Microchip Technology: Analog & Data Centre Business Upside Is Strong – Key Drivers

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.

Thematic (Sector/Industry)

<ul><li>Markets always act erratically, but I thought I would highlight one aspect that disproportionately impacts semiconductors.</li><li>Factor investing is not new, but we are in a unique period where Momentum has quite a period of outperformance and short-term outperformance.</li><li>This matters because semiconductors are (as far as my memory holds) the most significant weight in Momentum I’ve ever witnessed. </li></ul>

Markets always act erratically, but I thought I would highlight one aspect that disproportionately impacts semiconductors.Factor investing is not new, but we are in a unique period where Momentum has quite a period of outperformance and short-term outperformance.This matters because semiconductors are (as far as my memory holds) the most significant weight in Momentum I’ve ever witnessed. 

<ul><li>The year 2023 began with a significant downturn in the semiconductor market.</li><li>Significant capacity additions were brought on after the historic shortages due to COVID-19, and then demand wobbled as interest rates quickly rose.</li><li>Supply outpaced demand, and the market turned into a period of oversupply.</li></ul>

The year 2023 began with a significant downturn in the semiconductor market.Significant capacity additions were brought on after the historic shortages due to COVID-19, and then demand wobbled as interest rates quickly rose.Supply outpaced demand, and the market turned into a period of oversupply.

Semiconductor Outlook 2024: AI's Adolescence

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

<ul>
<li>There are signs of a recovery in the chip sector</li>
<li>Memory spot prices are up, and revenues have risen for six consecutive months</li>
<li>Growth is higher than average, indicating the start of another super-cycle</li>
</ul>


There are signs of a recovery in the chip sector
Memory spot prices are up, and revenues have risen for six consecutive months
Growth is higher than average, indicating the start of another super-cycle


United States

Microchip Technology Incorporated designs, manufactures, and markets microcontrollers, related mixed-signal and memory products, and application development systems for high-volume embedded control applications. The Company also designs, develops, and markets linear/mixed-signal, power management, and thermal management products.

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Microchip Technology (MCHP US)

Microchip Technology: Navigating Through Market Sluggishness! - Major Drivers

Despite a sluggish macro environment, Microchip Technology's quarterly earnings were solid due to resilient end markets and broad client base. The...

Baptista Research

Microchip Technology: Analog & Data Centre Business Upside Is Strong – Key Drivers

Microchip Technology had a strong quarter. Non-GAAP gross margin exceeded the company's forecast by 171 basis points to an all-time high of 68.3%...

Baptista Research

Factors and Semiconductors

A friendly warning. Momentum is outperforming all factors this year, and Semiconductors are a large part of that. Markets always act erratically,...

Fabricated Knowledge

Semiconductor Outlook 2024: AI's Adolescence

Its time to jog your memory. We've gone through the downturn, what does an upturn look like? The year 2023 began with a significant downturn in the...

Fabricated Knowledge

Are Semiconductors Finally Recovering?

The chip sector is beginning to recover with rising memory prices and six consecutive months of above-average revenue growth, suggesting the onset...

Jim Handy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Microchip Technology: Navigating Through Market Sluggishness! - Major Drivers

Despite a sluggish macro environment, Microchip Technology's quarterly earnings were solid due to resilient end markets and broad client base. The...

Baptista Research

Microchip Technology: Analog & Data Centre Business Upside Is Strong – Key Drivers

Microchip Technology had a strong quarter. Non-GAAP gross margin exceeded the company's forecast by 171 basis points to an all-time high of 68.3%...

Baptista Research

Factors and Semiconductors

A friendly warning. Momentum is outperforming all factors this year, and Semiconductors are a large part of that. Markets always act erratically,...

Fabricated Knowledge

Semiconductor Outlook 2024: AI's Adolescence

Its time to jog your memory. We've gone through the downturn, what does an upturn look like? The year 2023 began with a significant downturn in the...

Fabricated Knowledge

Are Semiconductors Finally Recovering?

​The chip sector is beginning to recover with rising memory prices and six consecutive months of above-average revenue growth, suggesting the onset...

Jim Handy

The chip sector is beginning to recover with rising memory prices and six consecutive months of above-average revenue growth, suggesting the onset...