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 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.

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Market dynamics continue to deteriorate and there are plenty of reasons to be concerned, which we outline below.</li>
<li>With that said, the bottom line is that the Russell 2000 index (IWM) is above $208 support and the Russell Micro Caps index (IWC) is above $135 support.</li>
<li>As long as these supports hold we expect more consolidation and mixed markets ahead, but we would turn bearish on breakdowns.</li>
</ul>


Market dynamics continue to deteriorate and there are plenty of reasons to be concerned, which we outline below.
With that said, the bottom line is that the Russell 2000 index (IWM) is above $208 support and the Russell Micro Caps index (IWC) is above $135 support.
As long as these supports hold we expect more consolidation and mixed markets ahead, but we would turn bearish on breakdowns.


Supports Holding Despite Concerning Developments; Semis & Home Improvement Retailers Attractive

Equity Long-Short Analyst

Pyari Menon

Thematic (Sector/Industry)

<ul>
<li>The companies that are best positioned to take advantage of the 5G growth are a mix of equipment vendors, chipset companies, device makers, and enterprise solution providers. </li>
<li>The top ten companies to benefit from 5G rollout based on innovation and citation count are <strong>Samsung Electronics, Qualcomm, LG Electronics, AT&amp;T, Huawei, Intel, Google, Ericsson, Apple,</strong> and <strong>Nokia </strong>
</li>
<li>A stand-out in 5G technology rankings is <a href="https://www.smartkarma.com/entities/lg-electronics-inc" target="_blank" data-smartkarma-citation="entities:8814:1" rel="noopener">LG Electronics (066570 KS)</a> which is punching well above its current market share in the industry. </li>
</ul>


The companies that are best positioned to take advantage of the 5G growth are a mix of equipment vendors, chipset companies, device makers, and enterprise solution providers. 
The top ten companies to benefit from 5G rollout based on innovation and citation count are Samsung Electronics, Qualcomm, LG Electronics, AT&amp;T, Huawei, Intel, Google, Ericsson, Apple, and Nokia 

A stand-out in 5G technology rankings is LG Electronics (066570 KS) which is punching well above its current market share in the industry. 


Stock Ideas from Data Mining Technical Publications: A Look at 5G

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

<ul>
<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.

<ul>
<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

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. - 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

Supports Holding Despite Concerning Developments; Semis & Home Improvement Retailers Attractive

Market dynamics continue to deteriorate and there are plenty of reasons to be concerned. However, the bottom line is that Russell 2000 (IWM) is...

Vermilion Research

Stock Ideas from Data Mining Technical Publications: A Look at 5G

5G connectivity is expected to spawn new business and services across sectors. We review the technological positioning of companies competing in...

Pyari Menon

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

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