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 Capital Markets

<ul><li>Broadcom delivered another solid result with a top-line growth of 16%.</li><li>The company’s core software business remained steady, and the wireless grew single digits.</li><li>Furthermore, the 5G backhaul has resulted in operators all over the world continuing to drive strong growth in Broadcom's Qumran family of products.</li></ul>

Broadcom delivered another solid result with a top-line growth of 16%.The company’s core software business remained steady, and the wireless grew single digits.Furthermore, the 5G backhaul has resulted in operators all over the world continuing to drive strong growth in Broadcom's Qumran family of products.

Broadcom Inc.: Financial & Price Forecasts

<ul><li>Broadcom delivered a strong financial result with revenue increased by $7.4 billion, up 15% compared to the last year.</li><li>Demand for hyper-cloud and service providers remained stable, and strong cellular growth in Q4 was driven by their North American OEM's seasonal launch of next-generation handsets.</li><li>Broadcom saw a double-digit growth after deploying Jericho routers in large-scale AI networks in the cloud, as well as Qumran in 5G infrastructure and DCI.</li></ul>

Broadcom delivered a strong financial result with revenue increased by $7.4 billion, up 15% compared to the last year.Demand for hyper-cloud and service providers remained stable, and strong cellular growth in Q4 was driven by their North American OEM's seasonal launch of next-generation handsets.Broadcom saw a double-digit growth after deploying Jericho routers in large-scale AI networks in the cloud, as well as Qumran in 5G infrastructure and DCI.

TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

Equity Bottom-Up

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<li>Crowdstrike printed another strong quarter, continues to beat and raise despite overblown competitive concerns.</li>
<li>Revenue growth (+64%), Margin expansion (+520bps) and FCF generation (32% FCF margins) shows best in class rule of 40 SaaS metric.</li>
<li>Humio continues to show great traction, achieved 6 month signup target in 6 weeks.</li>
</ul>


Crowdstrike printed another strong quarter, continues to beat and raise despite overblown competitive concerns.
Revenue growth (+64%), Margin expansion (+520bps) and FCF generation (32% FCF margins) shows best in class rule of 40 SaaS metric.
Humio continues to show great traction, achieved 6 month signup target in 6 weeks.


Crowdstrike FY3Q22: Platform, Not Endpoint

Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

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<li>
<a href="https://www.smartkarma.com/entities/mediatek-inc" target="_blank" data-smartkarma-citation="entities:772:1" rel="noopener">Mediatek Inc (2454 TT)</a> is now the world’s largest smartphone AP SoC maker after consistent market share gains over the past 2 years.</li>
<li>Revenue growth should be supported by entry into the flagship mobile phone segment whilst margins should be underpinned by higher ASPs and product mix optimisation.</li>
<li>Attractive 6.4% forward dividend yield, with low risk of a negative surprise given its net cash balance sheet, a relatively low implied pay-out ratio, and muted earnings growth expectations.</li>
</ul>



Mediatek Inc (2454 TT) is now the world’s largest smartphone AP SoC maker after consistent market share gains over the past 2 years.
Revenue growth should be supported by entry into the flagship mobile phone segment whilst margins should be underpinned by higher ASPs and product mix optimisation.
Attractive 6.4% forward dividend yield, with low risk of a negative surprise given its net cash balance sheet, a relatively low implied pay-out ratio, and muted earnings growth expectations.


2022 High Conviction: MediaTek, High Dividend Yield, Solid Fundamental Outlook, Strong Balance Sheet

<ul><li>Broadcom had another solid quarter and surpassed Wall Street expectations on the revenue front as well as the earnings front.</li><li>Its core semiconductor solutions business continued to benefit from the global shortage with and its revenue grew 19% year-on-year to nearly $5 billion.</li><li>Additionally, their networking revenue grew by $1.8 billion, up 19% year-on-year compared to the low double-digit growth and represented 36% of the company's semiconductor revenue.</li></ul>

Broadcom had another solid quarter and surpassed Wall Street expectations on the revenue front as well as the earnings front.Its core semiconductor solutions business continued to benefit from the global shortage with and its revenue grew 19% year-on-year to nearly $5 billion.Additionally, their networking revenue grew by $1.8 billion, up 19% year-on-year compared to the low double-digit growth and represented 36% of the company's semiconductor revenue.

United States

Broadcom Inc. designs, develops, and supplies semiconductor and infrastructure software solutions. The Company offers storage adapters, controllers, networking processors, motion control encoders, and optical sensors, as well as infrastructure and security software to modernize, optimize, and secure the most complex hybrid environments. Broadcom serves customers worldwide.

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Broadcom (AVGO US)

Broadcom Inc.: Financial & Price Forecasts

Broadcom delivered another solid result with a top-line growth of 16%. The company’s core software business remained steady, and the wireless grew...

Baptista Research

Broadcom Inc. - Investment Thesis

Broadcom delivered a strong financial result with revenue increased by $7.4 billion, up 15% compared to the last year. Demand for hyper-cloud and...

Baptista Research

Crowdstrike FY3Q22: Platform, Not Endpoint

Another strong beat and raise despite overblown competitive concerns. Revenue growth (+64%), Margin expansion (+520bps) and FCF generation (32% FCF...

Aaron Gabin

2022 High Conviction: MediaTek, High Dividend Yield, Solid Fundamental Outlook, Strong Balance Sheet

In our 2022 High Conviction pick we revisit MediaTek, the world’s 4th largest fabless semiconductor company, its industry, fundamental outlook, and...

Wium Malan, CFA

Broadcom Inc. - Investment Thesis

Broadcom had another solid quarter and surpassed Wall Street expectations on the revenue front as well as the earnings front. Its core...

Baptista Research

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