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>Analog Devices Inc.'s Q1 2024 earnings reflected a mixed performance amidst challenging global economic conditions, as well as the potential for future growth and leadership in the intelligent edge era.</li><li>The company reported its revenues above the midpoint of their outlook at more than $2.5 billion, backed by operating margins of 42% and an earnings per share of $1.73.</li><li>While these figures are positive, the call also acknowledges an existing inventory rationalization at customers which began in mid-2023 and is expected to continue through Q2.</li></ul>

Analog Devices Inc.'s Q1 2024 earnings reflected a mixed performance amidst challenging global economic conditions, as well as the potential for future growth and leadership in the intelligent edge era.The company reported its revenues above the midpoint of their outlook at more than $2.5 billion, backed by operating margins of 42% and an earnings per share of $1.73.While these figures are positive, the call also acknowledges an existing inventory rationalization at customers which began in mid-2023 and is expected to continue through Q2.

Analog Devices Inc.: AI and Machine Learning In Data Centers As A Massive Growth Catalyst! - Major Drivers

<ul><li>Analog Devices, Inc. delivered a mixed set of results in its most recent result, with revenues above Wall Street expectations but below-par earnings, reaching $2.7 billion, primarily fueled by substantial growth in the automotive sector.</li><li>Amid challenging times, ADI's design win pipeline witnessed double-digit growth, buoyed by sustained momentum in Maxim revenue synergies, surpassing initial expectations.</li><li>In the consumer sector, ADI secured multiple power management sockets in portable applications, showcasing the success of its acquisition strategy.</li></ul>

Analog Devices, Inc. delivered a mixed set of results in its most recent result, with revenues above Wall Street expectations but below-par earnings, reaching $2.7 billion, primarily fueled by substantial growth in the automotive sector.Amid challenging times, ADI's design win pipeline witnessed double-digit growth, buoyed by sustained momentum in Maxim revenue synergies, surpassing initial expectations.In the consumer sector, ADI secured multiple power management sockets in portable applications, showcasing the success of its acquisition strategy.

Analog Devices Inc.: Revolutionizing AI ML Systems with Innovative Power Solutions! - Major 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>Its a quarter too soon to go dumpster diving in the automotive semiconductor industry. Another round of cuts is likely coming. Consider this my earnings preview.</li><li><p>I have leaned bearish automotive semiconductors for a few months, and I think the call has been mostly correct.</p></li><li><p>For me, the beginning of my bearishness started when I highlighted that China would try to murder the supply aspect of the market for the foreseeable future</p></li></ul><div data-component-name="DigestPostEmbed"><a href="https://www.fabricatedknowledge.com/p/chinese-evs-and-the-lagging-edge" target="_blank" rel="noopener"></a></div>

Its a quarter too soon to go dumpster diving in the automotive semiconductor industry. Another round of cuts is likely coming. Consider this my earnings preview.I have leaned bearish automotive semiconductors for a few months, and I think the call has been mostly correct.For me, the beginning of my bearishness started when I highlighted that China would try to murder the supply aspect of the market for the foreseeable future

Hitting the Breaks: Automotive Semiconductors

<ul><li>KLA had a rare miss. The guidance was a bit light for the inspection execution machine.</li><li>KLA rarely misses and is by far the best financially managed of the large-cap semicap companies.</li><li>KLA reports Q2 EPS $6.16 ex-items vs FactSet $5.91</li></ul>

KLA had a rare miss. The guidance was a bit light for the inspection execution machine.KLA rarely misses and is by far the best financially managed of the large-cap semicap companies.KLA reports Q2 EPS $6.16 ex-items vs FactSet $5.91

KLA & LaserTec, AMD, Hyperscaler Capex, SK Hynix, SWKS and QRVO, WOLF, MCHP

Taiwan Tech Focused Senior Analyst

Patrick Liao

<ul>
<li>Silergy foresees the demand will be larger than capacity in 2022. Silergy expects Auto, Sever Mother-board, SSD and others should be showing a strong demand in 2022.</li>
<li>The shipment lead-time is controlled around 5~6 months, which indicated that the demand is strong for 2022~23.</li>
<li>The generation 3rd will be optimized until 2026. Silergy will need some new suppliers for generation 4th in 2023. In 2026, generation 3rd &amp; 4th will dominate Silergy’s revenue. </li>
</ul>


Silergy foresees the demand will be larger than capacity in 2022. Silergy expects Auto, Sever Mother-board, SSD and others should be showing a strong demand in 2022.
The shipment lead-time is controlled around 5~6 months, which indicated that the demand is strong for 2022~23.
The generation 3rd will be optimized until 2026. Silergy will need some new suppliers for generation 4th in 2023. In 2026, generation 3rd &amp; 4th will dominate Silergy’s revenue. 


Silergy (6415.TT): Earnings Conference for 4Q21- The Demand Is Strong for 2022~23.

United States

Analog Devices, Inc. designs, manufactures, and markets integrated circuits used in analog and digital signal processing.  The Company's products are used in communications, computer, industrial, instrumentation, military/aerospace, automotive, and high-performance consumer electronics applications.  Analog Devices sells its products worldwide.

Analog Devices (ADI US)

Analog Devices Inc.: AI and Machine Learning In Data Centers As A Massive Growth Catalyst! - Major Drivers

Analog Devices Inc.'s Q1 2024 earnings reflected a mixed performance amidst challenging global economic conditions, as well as the potential for...

Baptista Research

Analog Devices Inc.: Revolutionizing AI ML Systems with Innovative Power Solutions! - Major Drivers

Analog Devices, Inc. delivered a mixed set of results in its most recent result, with revenues above Wall Street expectations but below-par...

Baptista Research

Hitting the Breaks: Automotive Semiconductors

Its a quarter too soon to go dumpster diving in the automotive semiconductor industry. Another round of cuts is likely coming. Consider this my...

Fabricated Knowledge

KLA & LaserTec, AMD, Hyperscaler Capex, SK Hynix, SWKS and QRVO, WOLF, MCHP

Another week of earnings, with KLA having a rare miss and the guidance being a bit light for the inspection execution machine.

Fabricated Knowledge

Silergy (6415.TT): Earnings Conference for 4Q21- The Demand Is Strong for 2022~23.

Silergy expects Auto, Sever Mother-board, SSD should be showing a strong demand in 2022. The shipment lead-time is controlled at around 5~6 months,...

Patrick Liao