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

In our November Strategy book we summarize the basis for our bullish outlook, discuss the deservedly hot topic of value vs. growth. and highlight actionable opportunities within our Manufacturing, Transportation, Materials, Technology, &amp; Consumer Discretionary Sectors.

In our November Strategy book we summarize the basis for our bullish outlook, discuss the deservedly hot topic of value vs. growth. and highlight actionable opportunities within our Manufacturing, Transportation, Materials, Technology, &amp; Consumer Discretionary Sectors.

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

As we write this, fears of a reprisal attack by Saudi Arabia are being priced into the markets. Oil is surging on the back of the largest ever supply disruption in history.  Investment managers are likely caught on the wrong side of the Energy Sector move and were very underweight as the Sector’s performance has, year-to-date, been nothing but an anchor on performance.  The Energy Sector has underperformed for well over a decade and the sector is at its lowest weighting in the S&amp;P 500 going back to 2005. We are taking this opportunity to upgrade the Energy Sector to a Market Weight from an Underweight as we believe retaliatory action is highly likely.The move to value is a trend that we see likely to continue. Small-caps have also done an about face vs large caps (Russell 2000 vs Russell 1000) after having broken to RS lows not seen since 2009. We believe this will result in a move that would likely take us back up to the top of the range assuming a recession is off the table. In this report, we lay out our complete U.S. equity strategy, and make detailed comments and recommendations on each of our 12 Sectors.

 As we write this, fears of a reprisal attack by Saudi Arabia are being priced into the markets. Oil is surging on the back of the largest ever supply disruption in history.  Investment managers are likely caught on the wrong side of the Energy Sector move and were very underweight as the Sector’s performance has, year-to-date, been nothing but an anchor on performance.  The Energy Sector has underperformed for well over a decade and the sector is at its lowest weighting in the S&amp;P 500 going back to 2005. We are taking this opportunity to upgrade the Energy Sector to a Market Weight from an Underweight as we believe retaliatory action is highly likely.The move to value is a trend that we see likely to continue. Small-caps have also done an about face vs large caps (Russell 2000 vs Russell 1000) after having broken to RS lows not seen since 2009. We believe this will result in a move that would likely take us back up to the top of the range assuming a recession is off the table. In this report, we lay out our complete U.S. equity strategy, and make detailed comments and recommendations on each of our 12 Sectors.

U.S. Equity Strategy: Value and Small-Caps Appear to Be on the Cusp of Major Bullish Moves

Of the ten items highlighted in last week’s Compass that we would like to see in order to turn more bullish, two have happened -- equal-weighted Energy and UK/European Financials are breaking out. This only serves to add to our already positive outlook as U.S. equities are poised to test all-time highs. We are upgrading equal-weight Energy to market weight. Also in today’s report, we highlight attractive Groups and stocks within Technology: Large-, Mid-, and Small-Cap Semiconductors.

Of the ten items highlighted in last week’s Compass that we would like to see in order to turn more bullish, two have happened -- equal-weighted Energy and UK/European Financials are breaking out. This only serves to add to our already positive outlook as U.S. equities are poised to test all-time highs. We are upgrading equal-weight Energy to market weight. Also in today’s report, we highlight attractive Groups and stocks within Technology: Large-, Mid-, and Small-Cap Semiconductors.

U.S. Equity Strategy: Upgrading Equal-Weight Energy Sector; Semis Are Leading Tech

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>Cirrus Logic reported robust financial results for the first quarter of fiscal year 2026, reflecting a strong demand for its products, particularly in the smartphone sector.</li><li>The company achieved revenue of $407.3 million, surpassing the higher end of their guidance.</li><li>This performance was primarily driven by strong demand for smartphones featuring Cirrus Logic's silicon, marking a 9% increase in sales year-over-year.</li></ul>

Cirrus Logic reported robust financial results for the first quarter of fiscal year 2026, reflecting a strong demand for its products, particularly in the smartphone sector.The company achieved revenue of $407.3 million, surpassing the higher end of their guidance.This performance was primarily driven by strong demand for smartphones featuring Cirrus Logic's silicon, marking a 9% increase in sales year-over-year.

Cirrus Logic: Expansion into Laptop Market for Increased Market Share In This Domain!

United States

Cirrus Logic, Inc. is a fabless semiconductor company that develops audio and voice IC and software solutions for mobile communications, automotive entertainment, and consumer audio applications. Cirrus Logic is headquartered in Austin, Texas.

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Cirrus Logic (CRUS US)

U.S. Equity Strategy: Remain Bullish

In our November Strategy book we summarize the basis for our bullish outlook, discuss the deservedly hot topic of value vs. growth. and highlight...

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

U.S. Equity Strategy: Value and Small-Caps Appear to Be on the Cusp of Major Bullish Moves

As we write this, fears of a reprisal attack by Saudi Arabia are being priced into the markets. Oil is surging on the back of the largest ever...

Vermilion Research

U.S. Equity Strategy: Upgrading Equal-Weight Energy Sector; Semis Are Leading Tech

Of the ten items highlighted in last week’s Compass that we would like to see in order to turn more bullish, two have happened -- equal-weighted...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

U.S. Equity Strategy: Remain Bullish

In our November Strategy book we summarize the basis for our bullish outlook, discuss the deservedly hot topic of value vs. growth. and highlight...

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

U.S. Equity Strategy: Value and Small-Caps Appear to Be on the Cusp of Major Bullish Moves

As we write this, fears of a reprisal attack by Saudi Arabia are being priced into the markets. Oil is surging on the back of the largest ever...

Vermilion Research

U.S. Equity Strategy: Upgrading Equal-Weight Energy Sector; Semis Are Leading Tech

Of the ten items highlighted in last week’s Compass that we would like to see in order to turn more bullish, two have happened -- equal-weighted...

Vermilion Research

Cirrus Logic: Expansion into Laptop Market for Increased Market Share In This Domain!

Cirrus Logic reported robust financial results for the first quarter of fiscal year 2026, reflecting a strong demand for its products,...

Baptista Research