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>Coherent recently held its fiscal year 2025 third-quarter earnings call, during which the company shared both its financial results and strategic initiatives.</li><li>In the quarter, Coherent reported strong revenue growth of approximately 4% sequentially and 24% year-over-year, reaching a record $1.5 billion.</li><li>This growth was mainly driven by continued demand in AI data centers and telecom markets.</li></ul>

Coherent recently held its fiscal year 2025 third-quarter earnings call, during which the company shared both its financial results and strategic initiatives.In the quarter, Coherent reported strong revenue growth of approximately 4% sequentially and 24% year-over-year, reaching a record $1.5 billion.This growth was mainly driven by continued demand in AI data centers and telecom markets.

Coherent Corp.: Can It Capitalize On Macro Tailwinds Through Expansion in Data Center and Communication Markets?

<ul><li>Coherent's latest earnings report for the second quarter of fiscal 2025 illustrates a mixed set of outcomes, reflecting significant advancements in certain segments while highlighting ongoing challenges that the company faces in other areas.</li><li>Revenue reached a record $1.43 billion, marking a 6% sequential and 27% year-over-year growth, driven by substantial progress in AI-related datacom transceivers and increasing demand in the telecom sector.</li><li>This growth is a positive indicator of Coherent's robust position in high-speed optical data communication markets, especially as they continue to expand their customer base for significant transceiver products like the 800-gig and invest in advancing their 1.6T transceiver applications.</li></ul>

Coherent's latest earnings report for the second quarter of fiscal 2025 illustrates a mixed set of outcomes, reflecting significant advancements in certain segments while highlighting ongoing challenges that the company faces in other areas.Revenue reached a record $1.43 billion, marking a 6% sequential and 27% year-over-year growth, driven by substantial progress in AI-related datacom transceivers and increasing demand in the telecom sector.This growth is a positive indicator of Coherent's robust position in high-speed optical data communication markets, especially as they continue to expand their customer base for significant transceiver products like the 800-gig and invest in advancing their 1.6T transceiver applications.

Coherent Corp.: Datacom Revenue Diversification To Secure A Competitive Edge In The Market!

<ul><li>Coherent Corp. recently held a discussion about its first-quarter financial results for fiscal year 2025, presenting a mixed performance marked by notable progress in key areas and challenges in others.</li><li>The company reported a 28% year-over-year revenue increase, reaching $1.35 billion, driven by strong demand for AI-related datacom transceivers and improved performance in the telecom sector.</li><li>Sequential revenue growth highlights the momentum in these segments.</li></ul>

Coherent Corp. recently held a discussion about its first-quarter financial results for fiscal year 2025, presenting a mixed performance marked by notable progress in key areas and challenges in others.The company reported a 28% year-over-year revenue increase, reaching $1.35 billion, driven by strong demand for AI-related datacom transceivers and improved performance in the telecom sector.Sequential revenue growth highlights the momentum in these segments.

Coherent Corp: Expanding Data Center Capabilities For A Possibly Unmatched Revenue Impact! - Major Drivers

<ul><li>Coherent Corp. concluded its fiscal year 2024 with financial results reflecting a positive trajectory, showing a 9% sequential and year-over-year revenue growth primarily driven by robust demand in datacom transceivers for AI data-centric deployments.</li><li>This was further accentuated by Non-GAAP gross margin expansion of 145 basis points compared to the previous quarter, underpinned by resolution of prior transitory issues and a substantial growth in Non-GAAP EPS by 16% sequentially and almost 50% year-over-year.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Coherent Corp. concluded its fiscal year 2024 with financial results reflecting a positive trajectory, showing a 9% sequential and year-over-year revenue growth primarily driven by robust demand in datacom transceivers for AI data-centric deployments.This was further accentuated by Non-GAAP gross margin expansion of 145 basis points compared to the previous quarter, underpinned by resolution of prior transitory issues and a substantial growth in Non-GAAP EPS by 16% sequentially and almost 50% year-over-year.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Coherent Corp.: How Is The Management Executing Portfolio Optimization and Operational Execution Improvements! - Major Drivers

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.

<ul><li><a href="https://www.smartkarma.com/entities/entegris-inc" target="_blank" data-smartkarma-citation="entities:12493" rel="noopener">Entegris Inc (ENTG US)</a> - Memory spending is happening next year, but MSI remains weak.</li><li><a href="https://www.smartkarma.com/entities/astera-labs-inc" target="_blank" data-smartkarma-citation="entities:40921" rel="noopener">Astera Labs (ALAB US)</a> - This is now the second way to play a levered Trainium ramp, as they have extensive content with <a href="https://www.smartkarma.com/entities/amazon-com-inc" target="_blank" data-smartkarma-citation="entities:409" rel="noopener">Amazon.com Inc (AMZN US)</a>.</li><li><a href="https://www.smartkarma.com/entities/lattice-semiconductor-corp" target="_blank" data-smartkarma-citation="entities:7855" rel="noopener">Lattice Semiconductor (LSCC US)</a> - Standard kitchen sink; I like the stock long-term.</li></ul>

Entegris Inc (ENTG US) - Memory spending is happening next year, but MSI remains weak.Astera Labs (ALAB US) - This is now the second way to play a levered Trainium ramp, as they have extensive content with Amazon.com Inc (AMZN US).Lattice Semiconductor (LSCC US) - Standard kitchen sink; I like the stock long-term.

Earnings: ENTG, ALAB, LSCC, SITM, QCOM, MCHP, WOLF, ARM, ACLS, AAOI, ANET, LITE, COHR

United States

Coherent, Inc. is a global company that manufactures and sells a variety of laser-based photonic products.  The Company's products are used in manufacturing and instrumentation applications that include optical telecommunication, semiconductor manufacturing, inspection and test, advance packaging, and reprographics.  The electro-optical market consists of Fortune 500 customers.

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Coherent Inc (COHR US)

Coherent Corp.: Can It Capitalize On Macro Tailwinds Through Expansion in Data Center and Communication Markets?

Coherent recently held its fiscal year 2025 third-quarter earnings call, during which the company shared both its financial results and strategic...

Baptista Research

Coherent Corp.: Datacom Revenue Diversification To Secure A Competitive Edge In The Market!

Coherent's latest earnings report for the second quarter of fiscal 2025 illustrates a mixed set of outcomes, reflecting significant advancements...

Baptista Research

Coherent Corp: Expanding Data Center Capabilities For A Possibly Unmatched Revenue Impact! - Major Drivers

Coherent Corp. recently held a discussion about its first-quarter financial results for fiscal year 2025, presenting a mixed performance marked by...

Baptista Research

Coherent Corp.: How Is The Management Executing Portfolio Optimization and Operational Execution Improvements! - Major Drivers

Coherent Corp. concluded its fiscal year 2024 with financial results reflecting a positive trajectory, showing a 9% sequential and year-over-year...

Baptista Research

Earnings: ENTG, ALAB, LSCC, SITM, QCOM, MCHP, WOLF, ARM, ACLS, AAOI, ANET, LITE, COHR

What a week (I’m a bit late on this)! I wanted to give a quick overview of all the companies that reported last week. Lattice Semiconductor -...

Fabricated Knowledge

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