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>GlobalFoundries reported solid financial performance for the second quarter of fiscal 2025, surpassing the guidance midpoints for revenue, gross margin, and operating margin.</li><li>The company achieved $1.688 billion in revenue, marking a 6% sequential increase and a 3% year-over-year gain.</li><li>Gross profit amounted to $425 million, with a gross margin of 25.2%.</li></ul>

GlobalFoundries reported solid financial performance for the second quarter of fiscal 2025, surpassing the guidance midpoints for revenue, gross margin, and operating margin.The company achieved $1.688 billion in revenue, marking a 6% sequential increase and a 3% year-over-year gain.Gross profit amounted to $425 million, with a gross margin of 25.2%.

GlobalFoundries: An Insight Into The MIPS Acquisition & Critical Growth Levers—Will RISC-V Innovation Redefine Its AI & Edge Strategy?

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.

Equity Capital Markets

<ul>
<li>ARM prices this Wednesday and trades on Thursday.</li>
<li>I have a lot of thoughts. This will be a great post if you want to learn about ARM. </li>
<li><span style="font-size: var(--content-font-size);">So, without further adieu, let’s dive into the most important IP company in the world.</span></li>
</ul>


ARM prices this Wednesday and trades on Thursday.
I have a lot of thoughts. This will be a great post if you want to learn about ARM. 
So, without further adieu, let’s dive into the most important IP company in the world.


US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/seagate-technology-holdings-pl" target="_blank" data-smartkarma-citation="entities:9129:1" rel="noopener">Seagate Technology (STX US)</a>, <a href="https://www.smartkarma.com/entities/alnylam-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:2191:1" rel="noopener">Alnylam Pharmaceuticals (ALNY US)</a> and <a href="https://www.smartkarma.com/entities/western-digital-corp" target="_blank" data-smartkarma-citation="entities:1094:1" rel="noopener">Western Digital (WDC US)</a> are the top forecasted additions with the highest price surge.</li>
<li>
<a href="https://www.smartkarma.com/entities/trade-desk-inc-the" target="_blank" data-smartkarma-citation="entities:26467:1" rel="noopener">Trade Desk (TTD US)</a>, <a href="https://www.smartkarma.com/entities/on-semiconductor-corp" target="_blank" data-smartkarma-citation="entities:2729:1" rel="noopener">On Semiconductor (ON US)</a> and <a href="https://www.smartkarma.com/entities/lululemon-athletica-inc" target="_blank" data-smartkarma-citation="entities:8316:1" rel="noopener">Lululemon Athletica (LULU US)</a> are the forecasted deletions with the largest price drop.</li>
<li>
<a href="https://www.smartkarma.com/entities/ferrovial-se-d1237de2-ee34-4fbb-8db7-53dd686904f2" target="_blank" data-smartkarma-citation="entities:46086:1" rel="noopener">Ferrovial (FER US)</a> can be a surprise addition depending on the treatment of its foreign listing.</li>
</ul>



Seagate Technology (STX US), Alnylam Pharmaceuticals (ALNY US) and Western Digital (WDC US) are the top forecasted additions with the highest price surge.

Trade Desk (TTD US), On Semiconductor (ON US) and Lululemon Athletica (LULU US) are the forecasted deletions with the largest price drop.

Ferrovial (FER US) can be a surprise addition depending on the treatment of its foreign listing.


Nasdaq100 December 2025 Forecast (Final): 12 Changes

<ul><li>GlobalFoundries has delivered a mixed performance in their first quarter of fiscal 2025, marked by both positive developments and notable challenges.</li><li>On the positive side, the company reported revenues of $1.585 billion, representing a 2% increase year-over-year despite a sequential decline of 13%, achieved partly through significant contributions from its automotive and communications infrastructure and data center segments.</li><li>Notably, the automotive segment accounted for 19% of total revenue and saw a 16% increase year-over-year, driven by increasing silicon content in vehicles that offset a decline in unit sales.</li></ul>

GlobalFoundries has delivered a mixed performance in their first quarter of fiscal 2025, marked by both positive developments and notable challenges.On the positive side, the company reported revenues of $1.585 billion, representing a 2% increase year-over-year despite a sequential decline of 13%, achieved partly through significant contributions from its automotive and communications infrastructure and data center segments.Notably, the automotive segment accounted for 19% of total revenue and saw a 16% increase year-over-year, driven by increasing silicon content in vehicles that offset a decline in unit sales.

GlobalFoundries: Silicon Photonics & Co-Packaged Optics Progress & Other Major Drivers

<ul><li>GlobalFoundries Inc., the U.S.-based contract semiconductor manufacturer, is reportedly exploring a high-stakes merger with Taiwan’s United Microelectronics Corporation (UMC).</li><li>This potential combination, though fraught with regulatory and geopolitical complexities, could mark one of the most significant developments in the mature-node chipmaking industry.</li><li>As reported by various sources including Nikkei Asia and Bloomberg, newly appointed CEO Tim Breen has been open to dealmaking, and this tie-up could be a strategic pivot amid rising global chip demand and evolving supply chain realities.</li></ul>

GlobalFoundries Inc., the U.S.-based contract semiconductor manufacturer, is reportedly exploring a high-stakes merger with Taiwan’s United Microelectronics Corporation (UMC).This potential combination, though fraught with regulatory and geopolitical complexities, could mark one of the most significant developments in the mature-node chipmaking industry.As reported by various sources including Nikkei Asia and Bloomberg, newly appointed CEO Tim Breen has been open to dealmaking, and this tie-up could be a strategic pivot amid rising global chip demand and evolving supply chain realities.

GlobalFoundries & United Microelectronics Merger Could Be the Silicon Power Combo No One Saw Coming!

United States

GLOBALFOUNDRIES Inc. operates as a semiconductor contract manufacturing and design company. The Company offers chips designed for markets such as mobility, automotive, computing and wired connectivity, and consumer internet of things (IoT). GLOBALFOUNDRIES serves customers worldwide.

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GLOBALFOUNDRIES (GFS US)

GlobalFoundries: An Insight Into The MIPS Acquisition & Critical Growth Levers—Will RISC-V Innovation Redefine Its AI & Edge Strategy?

GlobalFoundries reported solid financial performance for the second quarter of fiscal 2025, surpassing the guidance midpoints for revenue, gross...

Baptista Research

ARM IPO Breakdown

ARM prices this Wednesday and trades on Thursday. I have a lot of thoughts. This will be a great post if you want to learn about ARM. So, without...

Fabricated Knowledge

Nasdaq100 December 2025 Forecast (Final): 12 Changes

STX, ALNY, WDC are the top forecasted addition. TTD, ON, LULU are the top forecasted deletions. FER can be a surprise addition displacing EBAY.

Dimitris Ioannidis

GlobalFoundries: Silicon Photonics & Co-Packaged Optics Progress & Other Major Drivers

GlobalFoundries has delivered a mixed performance in their first quarter of fiscal 2025, marked by both positive developments and notable...

Baptista Research

GlobalFoundries & United Microelectronics Merger Could Be the Silicon Power Combo No One Saw Coming!

GlobalFoundries Inc., the U.S.-based contract semiconductor manufacturer, is reportedly exploring a high-stakes merger with Taiwan’s United...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

GlobalFoundries: An Insight Into The MIPS Acquisition & Critical Growth Levers—Will RISC-V Innovation Redefine Its AI & Edge Strategy?

GlobalFoundries reported solid financial performance for the second quarter of fiscal 2025, surpassing the guidance midpoints for revenue, gross...

Baptista Research

ARM IPO Breakdown

ARM prices this Wednesday and trades on Thursday. I have a lot of thoughts. This will be a great post if you want to learn about ARM. So, without...

Fabricated Knowledge

Nasdaq100 December 2025 Forecast (Final): 12 Changes

​STX, ALNY, WDC are the top forecasted addition. TTD, ON, LULU are the top forecasted deletions. FER can be a surprise addition displacing EBAY.

Dimitris Ioannidis

GlobalFoundries: Silicon Photonics & Co-Packaged Optics Progress & Other Major Drivers

GlobalFoundries has delivered a mixed performance in their first quarter of fiscal 2025, marked by both positive developments and notable...

Baptista Research

GlobalFoundries & United Microelectronics Merger Could Be the Silicon Power Combo No One Saw Coming!

GlobalFoundries Inc., the U.S.-based contract semiconductor manufacturer, is reportedly exploring a high-stakes merger with Taiwan’s United...

Baptista Research

STX, ALNY, WDC are the top forecasted addition. TTD, ON, LULU are the top forecasted deletions. FER can be a surprise addition displacing EBAY.