Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

Openedges Technology / Equity Capital Markets

<ul>
<li><span>Our valuation analysis suggests an implied target price of 24,813 won per share, representing 38% higher than the high end of the IPO price range of 18,000 won. </span></li>
<li><span>Given the solid upside, we have a Positive view of the Open Edges Technology, despite the weak IPO market conditions. </span></li>
<li>
<a href="https://biz.chosun.com/stock/market_trend/2022/08/16/6JZRHBLIEBHWZL2WTNYPLZZTZA/?utm_source=naver&amp;utm_medium=original&amp;utm_campaign=biz" target="_blank" rel="noopener">Open Edges Technology</a> is one of the leading companies in Korea that specializes in the semiconductor design asset platforms. </li>
</ul>


Our valuation analysis suggests an implied target price of 24,813 won per share, representing 38% higher than the high end of the IPO price range of 18,000 won. 
Given the solid upside, we have a Positive view of the Open Edges Technology, despite the weak IPO market conditions. 

Open Edges Technology is one of the leading companies in Korea that specializes in the semiconductor design asset platforms. 


Open Edges Technology IPO Valuation Analysis

House of Market Insights, Market Radar

Market Radar

House of Market Insights

Quick market updates and lot of ideas for your investments from a multi-asset portfolio manager working for a family office.

Quick Market Updates

Technical Analysis

<ul><li>The S&amp;P 500 had a great reaction in the second part of July and the first half of August, but now he's showing weak again.</li><li>The last high is perfectly aligned with a down-sloping trendline.</li><li>On the other side there is an interesting support close to 3,800. Is the index going to test that level again?</li></ul>

The S&amp;P 500 had a great reaction in the second part of July and the first half of August, but now he's showing weak again.The last high is perfectly aligned with a down-sloping trendline.On the other side there is an interesting support close to 3,800. Is the index going to test that level again?

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>Digital transformation is accelerating across various industries thanks to generational trends like 5G, hyperscale computing, and autonomous vehicles supported by AI, ML, and data analytics.</li><li>These trends are boosting design activity, creating a strong secular tailwind for the core end-to-end EDA, IP, and expanding systems portfolio.</li><li>Cadence also acquired Future Facilities during the quarter to expand its CFD portfolio to include data centres.</li></ul>

Digital transformation is accelerating across various industries thanks to generational trends like 5G, hyperscale computing, and autonomous vehicles supported by AI, ML, and data analytics.These trends are boosting design activity, creating a strong secular tailwind for the core end-to-end EDA, IP, and expanding systems portfolio.Cadence also acquired Future Facilities during the quarter to expand its CFD portfolio to include data centres.

Cadence Design Systems Inc: The Future Facilities Acquisition & Other Drivers

Cadence Design Sys / Equity Capital Markets

<ul><li>Cadence Design delivered a particularly strong 2021 generating over $1 billion in operating cash flow.</li><li>The company expects its innovative solutions to continue driving broad-based business momentum in 2021 and 2022, accelerating revenue growth and profitability, with robust design activity providing a strong tailwind.</li><li>With their digital full flow and an expansion of their system design and analysis products in 2021, Cadence Design strengthened its relationship with Oppo, China's leading mobile phone manufacturer.</li></ul>

Cadence Design delivered a particularly strong 2021 generating over $1 billion in operating cash flow.The company expects its innovative solutions to continue driving broad-based business momentum in 2021 and 2022, accelerating revenue growth and profitability, with robust design activity providing a strong tailwind.With their digital full flow and an expansion of their system design and analysis products in 2021, Cadence Design strengthened its relationship with Oppo, China's leading mobile phone manufacturer.

Cadence Design Systems: Financial & Price Forecasts

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

LiDAR Technology Leader with Proven Technology, Tier 1 Partners, and a Capital-Light Business Model

United States

Cadence Design Systems, Inc. provides software technology, design and consulting services and technology.  The Company licenses its electronic design automation software technology and provides a variety of professional services.  Cadence's design realization solutions are used to design and develop complex chips and electronic systems, including semiconductors.

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Cadence Design Sys (CDNS US)

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Baptista Research

LiDAR Technology Leader with Proven Technology, Tier 1 Partners, and a Capital-Light Business Model

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Water Tower Research

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