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>Some more minor data points and highlights: KLIC (ball bonders) says that utilization is 75-80%, which is a good read on China despite the negative industrial headwind.</li>
<li>Allegro Microsystems is definitely scraping the bottom, and while Sanken (its distributor) is still increasing its inventory, I like the setup there.</li>
<li>Arrow Electronics (Distributor) says things are improving, which is a big counterpoint to everything else.</li>
</ul>


Some more minor data points and highlights: KLIC (ball bonders) says that utilization is 75-80%, which is a good read on China despite the negative industrial headwind.
Allegro Microsystems is definitely scraping the bottom, and while Sanken (its distributor) is still increasing its inventory, I like the setup there.
Arrow Electronics (Distributor) says things are improving, which is a big counterpoint to everything else.


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>Arrow Electronics recently disclosed its financial performance for the first quarter of 2024.</li><li>In a detailed review, the company reported total sales of $6.9 billion and non-GAAP earnings per share of $2.41, which was above the projected range.</li><li>This performance occurred against a backdrop of significant global technology supply chain disruptions, which have influenced the cyclical nature of the business, particularly in the components sector.</li></ul>

Arrow Electronics recently disclosed its financial performance for the first quarter of 2024.In a detailed review, the company reported total sales of $6.9 billion and non-GAAP earnings per share of $2.41, which was above the projected range.This performance occurred against a backdrop of significant global technology supply chain disruptions, which have influenced the cyclical nature of the business, particularly in the components sector.

Arrow Electronics Inc.: What Are Its Latest Advancements in Digital Transformation and IT Solutions? - Major Drivers

<ul><li>Arrow Electronics had a decent performance in 2023 despite the challenging macroeconomic conditions and inventory-related issues.</li><li>Arrow Electronics managed to post a full-year revenue of $33.1 billion and a non-GAAP operating margin of 4.8%.</li><li>The company also reported strong cash flow from operations, enabling the repurchase of approximately $750 million in shares over the year.</li></ul>

Arrow Electronics had a decent performance in 2023 despite the challenging macroeconomic conditions and inventory-related issues.Arrow Electronics managed to post a full-year revenue of $33.1 billion and a non-GAAP operating margin of 4.8%.The company also reported strong cash flow from operations, enabling the repurchase of approximately $750 million in shares over the year.

Arrow Electronics: What Are The Biggest Challenges In Its Transition To The IT-As-A-Service Model? - Major Drivers

<ul><li>This is our first report on Arrow Electronics.</li><li>The company reported a decent set of Q3 2023 financial results, demonstrating resilience against broad market challenges.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

This is our first report on Arrow Electronics.The company reported a decent set of Q3 2023 financial results, demonstrating resilience against broad market challenges.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Arrow Electronics: Initiation of Coverage - Inventory Down

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

uPI Semiconductor Corp / Equity Bottom-Up

<ul>
<li>UPI Semi is a specialist designer of electronic components and semiconductors for power management. Power management is a key performance factor for AI devices.</li>
<li>UPI's clients include most of the world's largest leading technology companies for semiconductor distribution and AI products.</li>
<li>UPI shares have lagged the strong performance of its clients -- We see opportunity for UPI to now Outperform.</li>
</ul>


UPI Semi is a specialist designer of electronic components and semiconductors for power management. Power management is a key performance factor for AI devices.
UPI's clients include most of the world's largest leading technology companies for semiconductor distribution and AI products.
UPI shares have lagged the strong performance of its clients -- We see opportunity for UPI to now Outperform.


Power Semiconductor Specialist Will Benefit from AI Yet Lagging Key Customers' Share Price Rallies

United States

Arrow Electronics, Inc. distributes electronic components and computer products to industrial and commercial customers.  The Company distributes a variety of products including computer systems, peripherals, software, and mass storage products to original equipment manufacturers and commercial customers worldwide.

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Arrow Electronics (ARW US)

Earnings: ALGM, LRCX, TOLEY, NVMI, ONTO

Hello, this is a slightly more relaxed week of earnings. I’m going to focus a lot on Allegro and then mention some high-level reads. I’ll keep...

Fabricated Knowledge

Arrow Electronics Inc.: What Are Its Latest Advancements in Digital Transformation and IT Solutions? - Major Drivers

Arrow Electronics recently disclosed its financial performance for the first quarter of 2024. In a detailed review, the company reported total...

Baptista Research

Arrow Electronics: What Are The Biggest Challenges In Its Transition To The IT-As-A-Service Model? - Major Drivers

Arrow Electronics had a decent performance in 2023 despite the challenging macroeconomic conditions and inventory-related issues. Arrow...

Baptista Research

Arrow Electronics: Initiation of Coverage - Inventory Down

This is our first report on Arrow Electronics. The company reported a decent set of Q3 2023 financial results, demonstrating resilience against...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Earnings: ALGM, LRCX, TOLEY, NVMI, ONTO

Hello, this is a slightly more relaxed week of earnings. I’m going to focus a lot on Allegro and then mention some high-level reads. I’ll keep...

Fabricated Knowledge

Arrow Electronics Inc.: What Are Its Latest Advancements in Digital Transformation and IT Solutions? - Major Drivers

Arrow Electronics recently disclosed its financial performance for the first quarter of 2024. In a detailed review, the company reported total...

Baptista Research

Arrow Electronics: What Are The Biggest Challenges In Its Transition To The IT-As-A-Service Model? - Major Drivers

Arrow Electronics had a decent performance in 2023 despite the challenging macroeconomic conditions and inventory-related issues. Arrow...

Baptista Research

Arrow Electronics: Initiation of Coverage - Inventory Down

This is our first report on Arrow Electronics. The company reported a decent set of Q3 2023 financial results, demonstrating resilience against...

Baptista Research

Power Semiconductor Specialist Will Benefit from AI Yet Lagging Key Customers' Share Price Rallies

UPI's clients include most of the world's leading tech companies for chip distribution and AI products. UPI shares have lagged the strong...

Vincent Fernando, CFA