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

Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

The US Department of Commerce has revised its Foreign-Produced Direct Product Rule and the Entity List in an attempt to further undermine Huawei.  This Smartkarma Insight looks at that rule to try and understand its likely implications to the broader semiconductor market over the longer term.  Our opinion is that US firms will be damaged as much as will Huawei.

The US Department of Commerce has revised its Foreign-Produced Direct Product Rule and the Entity List in an attempt to further undermine Huawei.  This Smartkarma Insight looks at that rule to try and understand its likely implications to the broader semiconductor market over the longer term.  Our opinion is that US firms will be damaged as much as will Huawei.

US-Huawei Battle Likely to Harm US Business

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

Continued encouraging COVID-19 news and accommodative moves by the Fed have allowed the bulls to remain in control while short-term support on the S&amp;P 500 held near 2,450. While the bulls remain in control in the short-term, we continue to believe the broad equity market is not yet out of the woods and remains vulnerable -- particularly as Wall Street sentiment has flipped bullish. In today’s report we highlight attractive stocks from a relative strength perspective across Sectors.

Continued encouraging COVID-19 news and accommodative moves by the Fed have allowed the bulls to remain in control while short-term support on the S&amp;P 500 held near 2,450. While the bulls remain in control in the short-term, we continue to believe the broad equity market is not yet out of the woods and remains vulnerable -- particularly as Wall Street sentiment has flipped bullish. In today’s report we highlight attractive stocks from a relative strength perspective across Sectors.

U.S. Equity Strategy: Bulls Still In Driver’s Seat, But For How Long?

As we head into Q4 earnings season we remain bullish on the broad market. Our bullish outlook is supported by the themes highlighted in this report.  In addition, we highlight attractive Groups and stocks within Discretionary and Technology: Casinos &amp; Gaming, Large-Cap, Semiconductors, Mid-Cap, Semiconductors, Small-Cap, Software, Design Solutions.

As we head into Q4 earnings season we remain bullish on the broad market. Our bullish outlook is supported by the themes highlighted in this report.  In addition, we highlight attractive Groups and stocks within Discretionary and Technology: Casinos &amp; Gaming, Large-Cap, Semiconductors, Mid-Cap, Semiconductors, Small-Cap, Software, Design Solutions.

U.S. Equity Strategy: Growth Surging Relative to Value

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

Equity Bottom-Up

<ul>
<li>SNPS reported Q2FY26 revenues of $2.276 billion, above prior guidance; quarterly GAAP earnings per diluted share (EPS) of $0.09, and non-GAAP EPS of $3.35</li>
<li>SNPS raised expectations for FY26 revenue to $9.665 billion, driven by strong performance across the business. Share price crashed ~9% the following day.</li>
<li>On the same day as the earnings call, SNPS entered into a cooperation agreement with Elliott,  including the appointment of Jesse Cohn to its board as an independent director. Yikes!</li>
</ul>


SNPS reported Q2FY26 revenues of $2.276 billion, above prior guidance; quarterly GAAP earnings per diluted share (EPS) of $0.09, and non-GAAP EPS of $3.35
SNPS raised expectations for FY26 revenue to $9.665 billion, driven by strong performance across the business. Share price crashed ~9% the following day.
On the same day as the earnings call, SNPS entered into a cooperation agreement with Elliott,  including the appointment of Jesse Cohn to its board as an independent director. Yikes!


Synopsys Q2 FY26. Beat, Raise, Crash & Hello There Elliott

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)

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

KEY POINTS AEye is the global leader in adaptive, high-performance LiDAR solutions. Its software-driven LiDAR platform (4Sight Foundation), and...

Water Tower Research

US-Huawei Battle Likely to Harm US Business

The US Department of Commerce has revised its Foreign-Produced Direct Product Rule and the Entity List in an attempt to further undermine Huawei. ...

Jim Handy

U.S. Equity Strategy: Bulls Still In Driver’s Seat, But For How Long?

Continued encouraging COVID-19 news and accommodative moves by the Fed have allowed the bulls to remain in control while short-term support on the...

Vermilion Research

U.S. Equity Strategy: Growth Surging Relative to Value

As we head into Q4 earnings season we remain bullish on the broad market. Our bullish outlook is supported by the themes highlighted in this...

Vermilion Research

Synopsys Q2 FY26. Beat, Raise, Crash & Hello There Elliott

On the same day as the earnings call, SNPS entered into a cooperation agreement with Elliott, including the appointment of Jesse Cohn to its board...

William Keating

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